Make Data-Driven Decisions…
Help Improve Profitability
Gathering the abundance of data needed to manage customer accounts is only half the battle. This information is useless if it doesn’t prepare your organization to take action.
In other words, the key to profitability is making data-driven decisions based on your business strategy – decisions that ensure the most appropriate action is taken for every customer.
Connecting analytics with action
With the acquisition of Intelligent Results, a leader in customer analytics and decision management, First Data is launching LIFT,SM a family of solutions that integrates data, analytics and action to help improve your portfolio profitability, as well as your collections and recovery performance.
Revenue, customer satisfaction and profitability
First Data LIFT gives you the insight needed to more appropriately determine the optimal action plan for each customer account, while delivering increased levels of control and efficiency to turn these action plans into reality.
LIFT delivers the knowledge to:
- Help improve the effectiveness of your marketing and collections efforts.
- Make daily, time-sensitive decisions regarding which actions to take to improve your business performance.
- Help you increase card usage at the lowest possible cost.
Decision Lifecycle
LIFT gives you access to a powerful decision solution that will systematically guide you through the entire decision process.
- 1) LIFT features a powerful strategy engine to analyze your business drivers and costs to deliver an “action score” for each account.
- 2) This “action score” feeds directly into First Data’s processing system to help streamline control over the industry’s most advanced suite of customer communication, including letters, automated calling, customized statements, electronic messaging such as e-mail as well as multiple other communication vehicles.
- 3) Actions taken are tracked and reported via the First Data system and are available to view through an easy-to-use GUI interface – enabling you to learn from the outcomes and continually refine your strategies in real time.
As a result, you can more easily track progress and help improve your success rates. And, because the LIFT family of analytic solutions is offered in a fully hosted environment, there’s no need to stress your existing IT resources, hire costly statisticians or change business processes to realize these improvements.
The LIFT Family of Analytic Solutions
Usage Manager
Identify accounts where usage is most likely to decline, indicating a greater trend toward inactivity or attrition, and create the right incentives (such as increased reward points, a different pricing structure, etc.) for each cardholder to encourage usage efficiently while minimizing expenses.
Letter Manager
Identify those collections accounts in which the cost of sending a letter is higher than the potential return, thus reducing expenses. You can also set custom strategies that help make it easy to rank accounts, allocate resources and generate responses more quickly.
Call Manager
Improve monthly collections results by optimizing your efforts using intelligent calling queues that direct your resources to the accounts most likely to deliver greater returns and efficiency. Call Manager can be integrated into multiple contact methods, including manual, dialer and automated messaging through 2Way-Connect.SM
Self Cure Manager
Avoid allocating resources to accounts that will pay regardless of treatment.
Settlement Manager
Determine the optimal settlement rate for every delinquent account to help significantly reduce net credit losses and maximize response rates. Actions range from recommending no settlement to determining personalized settlement offers.
Outsource Manager
Reduce contingency fees and balance internal resource constraints by more efficiently managing which and how many accounts need to be sent to collection agencies.
WANT MORE INFORMATION?
To learn more about the LIFT family of analytic solutions from First Data and the advantages they can bring your financial institution, call us today at 888-565-5990 or click here for more information.
