Collections Case Studies:
As the pressure on credit and consumer lending increases, lending institutions seek new metrics to help them manage their marketing efforts, help evaluate risk, and improve account management.
While existing credit scores and data have their role, knowing your customers’ financial capacity to spend and their ability to pay credit obligations can significantly enhance your firm’s marketing efforts.
IXI’s credit solutions are designed for firms offering credit card, mortgage, HELOC, auto, and consumer lending products and services. Using IXI’s proprietary consumer assets database measuring approximately $10 trillion in anonymous consumer assets as the basis, IXI has developed new metrics to help lending institutions:
- Improve Account Acquisition and Origination: Expand the universe of potential customers for Pre-screened and ITA campaigns, plus differentiate among seemingly like borrowers
- Manage Customer Lifecycle and Grow Charge Volume: Identify consumers with significant spending capacity for cross-sell/up-sell campaigns, offer dynamic account management, and proactively assess consumers’ ability to pay their credit obligations
IXI’s product suite for credit issuers provides unparalleled insight into the credit health of target markets and consumers’ economic positions, enabling more efficient customer and prospect targeting and improved modeling performance. The higher the spending ability and true income of a customer, the more likely they will be able to make significant transactions and meet their credit obligations regardless of rate changes.
IXI’s marketing and customer targeting tools for credit issuers include Discretionary Spending Index (DSI), Income360, Comp360, Discretionary Spending Dollars (DS$), CreditStyles Pro, Ability to Pay Index and Economic Spectrum*. Credit marketers can use these tools to develop marketing treatment groups or to supplement existing marketing models.
Additional segmentation solutions include Financial Cohorts and Economic Cohorts.
Credit issuers can also benefit from CreditMix, which enables firms to better determine market size and share of total outstanding credit behavior within target markets and gain insights on how financial shifts affect customer segments.
Not only can IXI help you enhance your customer marketing strategies, IXI also offers solutions to enable you to target the right small businesses for your products and services. With IXI’s Small Business Assets, firms can better determine which small businesses are most appropriate for premium offers as well as improve prospecting for new small business customers. If your firm offers services for home-based small businesses, then our solutions can help you communicate with them more efficiently.
For over a decade, IXI has worked with the nation’s largest banks, securities, and insurance firms to help them discover hidden financial opportunity among their existing customers, increase sales, and help assess risk.