09 Aug elanev Decision Engine Goes live!
The elanev® Decision Engine has been deployed with a UK agency. The Decision Engine enables operational teams to prioritise each account to work, and also determines the most effective channel and outbound content to use. The Engine incorporates a suite of elanev® Propensity Scores all recalibrated daily using the latest in machine learning techniques. The age of each account and the previous actions are also considered in determining the next best action.
The results show that RPC’s have increased by between 30 and 50%, penetration into the portfolio has increased and so have the collections and arrangement rates, whilst reducing the overall OPEX by around 30%. This is in addition to the uplift already provided by the elanev book on propensity scoring.
The elanev Decision Engine also provides a risk assessment of your current portfolio, enabling you to identify your potential “at risk” portfolios or tranches when you still have time to apply mitigation activity. This ensures that your business can always focus on the highest priority accounts. The service also enables the users to extract specific files based on the operational priority or chosen activity for simple integration into the collections system.
The entire process is controlled through the provision of the elanev® Predictive MI tool, enabling the agency and elanev to review the performance of the Decision Engine, the scoring and the business benefits in close to real-time. The profitability of each strategy, tranche and or portfolio can also be assessed, in addition to forecasting the gross and net recovery from each selected cohort of accounts, providing the user with a pro-active management of their costs versus return.
Contact us to see if you could utilise the technology normally restricted to the largest of companies. elanev are prepared to deploy this solution on a benefit share basis, put simply if this solution doesn’t make you sufficient gain, then elanev won’t charge you for the service!