LexisNexis® Risk & Information Analytics Group Announces Availability of LexisNexis® Debtor360 for the Collections Industry
Solution Provides Greater Debtor Insight, Enabling more Profitable Collections Efforts
February 5, 2009 — 2009-02-05New York, NY, February 5, 2009 - LexisNexis® Risk & Information Analytics Group today announced the availability of LexisNexis Debtor360, a new data solution that provides collection organizations with greater debtor insight and helps them enhance the efficiency of recovery efforts. Debtor360 provides collection organizations with key debtor indicators that identify critical account characteristics, thereby enabling them to save time and money by avoiding uncollectible accounts and focusing on profitable ones.
The current economic climate, characterized by a mix of increasing debt, presents collections organizations with the challenge of collecting against a higher volume of debtors, many of whom are not easy to locate or contact.
LexisNexis Debtor360 helps collections agencies address this challenge by providing agencies with more insight about the debtors in their portfolio. This enables agencies to easily identify accounts that require special treatment such as debtors who may be bankrupt, deceased, incarcerated or represent litigious behavior or identity fraud. With this information collection organizations can make more strategic decisions about which accounts to pursue, and what methods will be most effective.
"In order to stay profitable amid the current debtor liquidity crisis, collection organizations need to focus resources for maximum effect," said Rob Fite, vice president of collection solutions at LexisNexis Risk & Information Analytics Group. "Debtor360 provides collectors with more debtor insight than ever before, enabling them to avoid wasting time and money on unprofitable accounts and focus efforts on ones that are more profitable."
LexisNexis Debtor360 is available as a stand-alone solution, fully customizable to fit unique collection workflows. It is also available as a fully-integrated component of LexisNexis® Collections Management Solutions.
LexisNexis Collections Management Solutions offer collections professionals the following capabilities:
- Debtor Insight - Data & information intelligence tools that combine data and logic to create a greater degree of debtor insight.
- Collections Analytic Tools - Solutions that allow firms to more effectively segment their portfolios and develop the most effective collections strategies to better build their business and manage their debt portfolios.
- Collection Services - Services and capabilities to help enable key work flow processes for increased performance.
LexisNexis® Debtor360 does not constitute a consumer report as such term is defined in the federal Fair Credit Reporting Act, 15 USC 1681 et seq. ("FCRA"). Accordingly, LexisNexis Debtor360 may not be used to determine eligibility for credit or for any other purpose provided for in the FCRA.
LexisNexis® (www.lexisnexis.com) is a leading global provider of content-enabled workflow solutions to a wide range of professionals in the legal, risk management, corporate, government, law enforcement, accounting and academic markets. LexisNexis originally pioneered online information with its Lexis® and Nexis® services. A member of Reed Elsevier [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), LexisNexis serves customers in more than 100 countries with 18,000 employees worldwide.