Compared to existing collections processes, BackOnTrack significantly reduces roll rates of your delinquent customers by 100 basis points, using three behavioral principles: empathy, priming, and reciprocity. We work in concert with your existing processes to improve customers’ payment performance.
By priming delinquent customers to consider their financial health, BackOnTrack drives higher enrollment rates for autopay and payment reminders. These payment aids translate to better future payment performance by delinquent customers.
Based on their engagement with BackOnTrack, customers’ roll rate risk is determined using a predictive model. Delinquent customers 56% more likely to roll in the future are identified. Creditors can establish account level strategies to manage future risk and revenues.
Improvement not just in roll rates, but in all recidivism, results in increased cash collected from a portfolio of 1-60 DPD delinquent balances. Gain $1 million more in cash for every $100 million in delinquent balances.
“Thank you for caring enough to offer this opportunity” wrote one collections customer. BackOnTrack is designed to empathize with your customers while providing actionable advice. The result is a markedly better reaction to your collections efforts, helping retain valuable customers.
Learn how BackOnTrack™ can maximize dollars collected from delinquent consumers.