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For Collectors, LexisNexis Now Offers RecoverScore Through Accurint
Leading Technology Incorporates Robust Data To Rank Order Collectability
BOCA RATON, FL, February 21, 2006 - LexisNexis U.S., a leading provider of information and services solutions, today announced the availability of the RecoverScore® solution for its collections customers. In the collections industry, the RecoverScore solution has shown that the top-10 percent of ranked accounts will typically generate 10-times more revenue compared to the bottom 10, and the top-50 percent of scored accounts often produce 80 percent of total payments. The RecoverScore solution uses advanced data mining and modeling techniques to identify the most collectible accounts and rank order them.
The RecoverScore solution analyzes accounts based on debt characteristics, contact ability and liquidity. These are key factors that determine collection effectiveness and can help determine what strategies to deploy in working various accounts. Because the product is linked into the LexisNexis and Accurint® data repositories, clients save the time and expenses associated with obtaining information on their own from credit bureaus, skip-tracing services and other data vendors.
"RecoverScore incorporates advanced LexisNexis modeling techniques to help collections professionals focus their efforts on the accounts with the highest probability of recovery," said Steve Seoane, senior director of analytics for LexisNexis Risk Management. "By offering RecoverScore through Accurint, LexisNexis continues to provide the collections industry with premium technologies and resources that help professionals save time and increase collections."
The LexisNexis RecoverScore solution has the capability to analyze debt characteristics including type of debt, age of debt, last payment and balance. Furthermore, the product searches liquidity characteristics including homeownership records, commercial properties and other assets, proximity of known relatives and other documentation containing personal records and information to create a rank ordering of accounts.
RecoverScore also provides separate rank orders and scores for different types of account portfolios, such as bank card, utility or medical expenses owed. Clients can easily devise collection strategies based on this specific data.
About LexisNexis
LexisNexis® (www.lexisnexis.com) is a leading provider of information and services solutions, including its flagship Web-based Lexis® and Nexis® research services, to a wide range of professionals in the legal, risk management, corporate, government, law enforcement, accounting and academic markets. A member of Reed Elsevier Group plc [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), the company does business in 100 countries with 13,000 employees worldwide.
Through its risk management solutions including Accurint®, Banko® and RiskWise®, LexisNexis helps to analyze risk, locate people and assets, authenticate identity, conduct background screening, and support national security initiatives. Customers include almost every federal government agency, the top 100 law firms, and Fortune 500 companies in the fields of national security, financial services, collection and recovery, insurance, telecommunications, e-commerce and retail.
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