Collections Snapshot

Collections Snapshot

The Collections Snapshot offers a comprehensive overview for tracing a consumer and provides the facility for decision-making based on the viability of collection. It ensures a complete understanding of a consumer and their financial stability and empowers the credit provider to make accurate decisions.

Definitions?

  • EARLY STAGE COLLECTION SNAPSHOT
  • Determines the likelihood of a consumer, who is 2-4 months in arrears, paying his accounts and reverting to current. The score indicates the probability of payment, with higher scores having higher payment rates.
  • LATE STAGE COLLECTION SNAPSHOT
  • Determines the likelihood of a consumer, who is 5+ months in arrears, making any payment on his arrears account. The score indicates the probability of payment, with higher scores having higher payment rates.

What is it?

Our solution provides you with an overview of a consumer to enable the collection of debt, in real time or batch.

How it works?

It uses advanced predictive analytics to determine a consumer's possibility of repayment. it is available on our VerifyID platform.

The benefit?

It provides you with the insight to determine if a consumer can pay, when they can pay and what they can afford, making the collections process more efficient and effective.

Collections Snapshot Features

  • CONSUMER SUMMARY
  • DEBT SUMMARY
  • AFFORDABILITY & INSTALMENT DETERMINATION
  • PAYMENT GAP
  • CREDIT ACTIVENESS
  • INDUSTRY ARREARS STATUS
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Pricing

VerifyID's Pricing is based on credits, 1 credit = R1.15. You purchase credits within the system and then with your credits you can purchase the available Searches and Services. Each service costs a variant of credits for example a Bank Account Verifications costs 15 credits or R 17.25.

Service Description Credits Rands
Collections Snapshot Comprehensive view of a consumer’s possibility of repayment based on their past payment history and industry repayment trends. ?? Call for Pricing