Why Collections & Recovery?
Streamline your collections and recovery process with a Zoot solution. Our flexible, nimble platform gives you an unprecedented level of control and flexibility for pre-delinquency, delinquency and post charge-off process management, across multiple portfolio segments and communication channels.
You can improve and inform your collections and recovery process with access to the data you need, from the sources you want. Automate your collection strategies, segment portfolios and standardize your external communications from one easy-to-use, intuitive interface. Deliver best-in-class customer experiences throughout the credit life cycle with increased account visibility and standardization of processes and outreach.
“Zoot’s solutions and the ability to connect to multiple data providers have allowed us to make quick, data driven decisions to protect the financial well-being of our portfolio. We are able to make fast updates to our platforms, which have allowed us to be successful in an ever-changing risk environment.”
Credit Risk Analyst – Top U.S. Retailer
With a Zoot Collections & Recovery Solution, You Can:
- Drive consistent actions and ensure uniform collections processes across the enterprise
- Identify and test new collections strategies
- Increase recovery rates and increase operational efficiencies
- Improve customer experiences using decisioning tracking and preferred contact methods
- Access bureau data, account historical data and alternative/third party data
Improve EffIciency
Using Zoot, you can evaluate accounts by scrubbing and flagging for bankruptcy, deceased and military status, and prioritize by scoring to determine the highest probability of repayment and return. Obtain the best contact information for accounts identified as the most collectible, and implement automated collection triggers such as changes to credit profile and contact information.
Create Consistent Outreach
Tailor communications to delinquent borrowers based on when and how they are contacted, while managing the distribution of letters and emails sent per household. Leverage configurable connections to dialer, email and text message service providers.
Focus, Adapt and Iterate
Adopt a ‘triage’ approach based on the probability of repayment to maximize the amount of debt collected and minimize your effort, time and cost. You can identify and test new collections strategies, as well as segment groups of accounts by various customer and loan characteristics.
Review and Report
You need the ability to automate, schedule and deliver reports across the enterprise – and Zoot delivers. You can create configurable exports to populate and support external systems such as data warehouses, collections agencies and law firms. Easily export data to your internal systems, and integrate with internal and third party systems to validate and reconcile your data.
The New Normal for Collections & Recovery
Find out how the economic impact of recent events has affected the financial industry in the areas of auto loans, student loans and credit card balances.