0
0
New offering helps lenders and servicers transform account-level decisions into tailored collection communications using behavioral design and automated fulfillment
Creative Solutions International has announced that its Collections Marketing Platform is now available on FICO Marketplace, a decision asset-based marketplace powered by FICO Platform. The listing gives lenders and servicers access to a solution designed to connect account-level collection decisions with personalized customer communications.
FICO Marketplace enables organizations to discover, access and deploy third-party offerings, including AI models, data services, analytics and other decisioning capabilities. The ecosystem is designed to help businesses adopt new technologies while retaining the flexibility to integrate their own intellectual property and customer experiences.
Moving Beyond Generic Collection Communications
Creative Solutions’ Collections Marketing Platform helps financial institutions replace generic, system-generated collection letters with communications tailored to individual customer segments and account circumstances.
The platform applies behavioral science, message framing and decision design to develop communications based on how customers read and respond to different messages. It also automates the design, production and fulfillment process, reducing the manual work involved in managing collection campaigns.
Creative Solutions International CEO Kevin B. Foley said the FICO Marketplace listing will make the company’s approach available to lenders and servicers through an established decisioning environment. He added that the platform uses data and behavioral design to deliver relevant messages and offers at different stages of the collections journey without increasing operational complexity.
Connecting Account-Level Decisions to Fulfillment
Once integrated with a lender’s existing collections workflow, the platform processes daily account files and applies segmentation logic to generate communications suited to each account’s delinquency stage, account type and behavioral profile.
Creative Solutions manages daily production and fulfillment, while response and performance data are used to refine targeting and creative over time. This creates a process that connects account-level decisioning with customer communications without requiring lenders to manage campaign production manually.
FICO Chief Revenue Officer Jason Andrew noted that decisions in collections must ultimately reach customers through channels such as letters and email. He said FICO Marketplace allows lenders to access specialized partners such as Creative Solutions without having to rebuild their underlying systems.
Reported Improvements in Collections Performance
Creative Solutions said its behavioral and cognitive design framework has delivered measurable results for financial institutions, including:
- 26% reduction in roll rates
- 15% increase in payment rates
- 48% improvement in settlements
In a separate test comparing combined letter-and-email communications with email-only outreach, adding letters resulted in a 7.2% increase in payers among a settlement population and a 33% increase in payers among a pre-sale population.
Expanding Access Through FICO Marketplace
FICO Marketplace is a digital ecosystem embedded within FICO Platform that connects customers with third-party data, AI and optimization models, and integrated solutions for decisioning workflows.
The marketplace is designed to help organizations bring additional capabilities into their existing operations and support AI-powered experiences across business functions. Its growing range of shared offerings also aims to help customers and providers develop differentiated solutions for existing and emerging use cases.
The availability of Creative Solutions’ Collections Marketing Platform adds a specialized customer communications capability to this ecosystem, giving lenders and servicers a way to connect collection decisions with behavioral design and automated fulfillment.
