Midpoint Resolution Group Raises the Profit Bar with LexisNexis® Collection Solutions
公司规模
SME
地区
- America
国家
- United States
产品
- LexisNexis Accurint for Collections
- Acxiom Insight
- LexisNexis RecoverScore
技术栈
- Advanced Link Analysis Technology
实施规模
- Enterprise-wide Deployment
影响指标
- Productivity Improvements
- Revenue Growth
- Customer Satisfaction
技术
- 分析与建模 - 预测分析
- 应用基础设施与中间件 - 数据交换与集成
适用行业
- 金融与保险
适用功能
- 商业运营
用例
- 补货预测
服务
- 数据科学服务
- 系统集成
关于客户
Midpoint Resolution Group, based in Buffalo, NY, provides a full range of collections services including pre-collection, skip-tracing, contingency recoveries, commercial collections, letter series, bankruptcy and probate services and litigation and arbitration services. In early 2007, Midpoint set a goal of increasing revenue and expanding its client base. The company expected to benefit from the growth in demand for collections services stemming from the dramatic increase in consumer, corporate and government debt. Midpoint is a growth-oriented company that continuously seeks ways to improve its collections efforts and increase efficiencies. By leveraging advanced tools and technologies, Midpoint aims to stay ahead in the competitive collections industry and deliver superior results for its clients.
挑战
While the collections industry continues to grow due to the increase in debt, that growth has spurred greater competition and produced debt-savvy consumers who are adept at subverting collections efforts. These trends combine to drive down margins, increase operating expenses and lower contingency fees, thereby making it essential for agencies to work smarter and more decisively to locate debtors and recover delinquent debt. As Midpoint reviewed the market, and its prospects for growth, it knew that success hinged on identifying and employing the right research and skiptracing tools. Midpoint already subscribed to a pair of competitive solutions to aid its skip-tracing work and identify Right Party Contacts (RPCs), including LexisNexis® Accurint® for Collections. Accurint for Collections provides collections agencies with comprehensive data on people, businesses and assets. The solution aggregates data from thousands of sources and features advanced link analysis technology to deliver the answers collections agencies need to locate debtors and shorten the collection cycle. Over the years Midpoint had fallen into the habit of minimizing usage of Accurint for Collections in favor of Acxiom® Insight. In early 2007, they decided to test the two systems to determine which solution was the right tool to stimulate and support growth.
解决方案
Midpoint generated a large placement file and split it in half with equal parts going to Accurint for Collections and Acxiom Insight. Midpoint collected on these files for three months and then created a report detailing how each solution performed in terms of the number of RPCs generated, the rate of payment and the gross dollar figure collected. The results of the test were striking. From a pool of 3,548 debtors, Accurint for Collections produced 397 RPCs—Acxiom Insight produced only 144 RPCs from its pool of 3,553 debtors. These numbers translate into an RPC rate of 11.19 percent for Accurint for Collections, compared to a rate of 4.05 percent for the Acxiom Insight. Overall, Accurint for Collections generated 176 percent more RPCs than Acxiom Insight. In addition, Midpoint evaluated the two systems on their ability to produce contact information for relatives of debtors. Contacting relatives is often a powerful way of finding delinquent debtors. The results of the test showed that Accurint for Collections was able to return contact information for debtor relatives on 66 percent of its contacts. Acxiom Insight was able to return relative contact information on fewer than 31 percent of its contacts. As a result of this test Midpoint selected Accurint for Collections as its preferred research tool for skip-tracing and the identification of RPCs.
运营影响
数量效益
Case Study missing?
Start adding your own!
Register with your work email and create a new case study profile for your business.
相关案例.
Case Study
Real-time In-vehicle Monitoring
The telematic solution provides this vital premium-adjusting information. The solution also helps detect and deter vehicle or trailer theft – as soon as a theft occurs, monitoring personnel can alert the appropriate authorities, providing an exact location.“With more and more insurance companies and major fleet operators interested in monitoring driver behaviour on the grounds of road safety, efficient logistics and costs, the market for this type of device and associated e-business services is growing rapidly within Italy and the rest of Europe,” says Franco.“The insurance companies are especially interested in the pay-per-use and pay-as-you-drive applications while other organisations employ the technology for road user charging.”“One million vehicles in Italy currently carry such devices and forecasts indicate that the European market will increase tenfold by 2014.However, for our technology to work effectively, we needed a highly reliable wireless data network to carry the information between the vehicles and monitoring stations.”
Case Study
Safety First with Folksam
The competitiveness of the car insurance market is driving UBI growth as a means for insurance companies to differentiate their customer propositions as well as improving operational efficiency. An insurance model - usage-based insurance ("UBI") - offers possibilities for insurers to do more efficient market segmentation and accurate risk assessment and pricing. Insurers require an IoT solution for the purpose of data collection and performance analysis
Case Study
Smooth Transition to Energy Savings
The building was equipped with four end-of-life Trane water cooled chillers, located in the basement. Johnson Controls installed four York water cooled centrifugal chillers with unit mounted variable speed drives and a total installed cooling capacity of 6,8 MW. Each chiller has a capacity of 1,6 MW (variable to 1.9MW depending upon condenser water temperatures). Johnson Controls needed to design the equipment in such way that it would fit the dimensional constraints of the existing plant area and plant access route but also the specific performance requirements of the client. Morgan Stanley required the chiller plant to match the building load profile, turn down to match the low load requirement when needed and provide an improvement in the Energy Efficiency Ratio across the entire operating range. Other requirements were a reduction in the chiller noise level to improve the working environment in the plant room and a wide operating envelope coupled with intelligent controls to allow possible variation in both flow rate and temperature. The latter was needed to leverage increased capacity from a reduced number of machines during the different installation phases and allow future enhancement to a variable primary flow system.
Case Study
Automated Pallet Labeling Solution for SPR Packaging
SPR Packaging, an American supplier of packaging solutions, was in search of an automated pallet labeling solution that could meet their immediate and future needs. They aimed to equip their lines with automatic printer applicators, but also required a solution that could interface with their accounting software. The challenge was to find a system that could read a 2D code on pallets at the stretch wrapper, track the pallet, and flag any pallets with unread barcodes for inspection. The pallets could be single or double stacked, and the system needed to be able to differentiate between the two. SPR Packaging sought a system integrator with extensive experience in advanced printing and tracking solutions to provide a complete traceability system.
Case Study
Transforming insurance pricing while improving driver safety
The Internet of Things (IoT) is revolutionizing the car insurance industry on a scale not seen since the introduction of the car itself. For decades, premiums have been calculated using proxy-based risk assessment models and historical data. Today, a growing number of innovative companies such as Quebec-based Industrielle Alliance are moving to usage-based insurance (UBI) models, driven by the advancement of telematics technologies and smart tracking devices.
Case Study
Enhancing Security and Compliance in Remitly's Global Money Transfer Service with Fastly
Remitly, an online remittance service, was faced with the challenge of securing its proprietary global transfer network. The company needed a security solution that could meet PCI requirements and protect customers' sensitive transactions through its mobile application. The solution had to be capable of defending against new and emerging attack types without impacting performance. Remitly also had to deal with irregular traffic patterns, such as a sudden spike in account transfers from a small network segment on the Pacific coastline of South America. The company needed to determine in real time whether such traffic indicated an attack or valid requests. A traditional web application firewall (WAF) would not be able to distinguish this traffic, potentially leading to customer frustration if the IP was blacklisted.
