The Shifting World of Debt Collection Eurofinas Session Introduction by BenchMark Consulting International

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1 The Shifting World of Debt Collection Eurofinas Session Introduction by BenchMark Consulting International October 2014 Consulting for Financial Services with Industry Experts Projects in 40 countries around the globe More information at Helping our clients across the globe become more successful for over 20 years Peter Jobst, Global Managing Director Europe Phone ++49 (172) US Phone Ian Dewsnap, Director European Operations Telephone ++44 (7501)

2 BenchMark Consulting: Expert Consultancy for the Lending Industry Business Experts: Coverage of the strategic, operational and finance view of the business down to desk level. International Focus: Projects delivered for 40 countries worldwide. Client base consists of many well-known leading global lenders. Product Experts: Retail, Wholesale, Fleet Finance, Fleet Management; Loan, Finance Lease, Operational Lease, Credit Lines / Revolving, Services; unsecured asset-based etc. Proprietary Toolkit: Extensive proprietary shelf material for lending, e.g. knowledgebase about industry practices and performances, process maps, business requirements, rfp templates, etc Process Experts: Coverage of the end-to-end process chain from point-of-sale until contract end including debt management. Stability: In business for over 25 years. Strong shareholder background as fully owned subsidiary of Fidelity Information Services (www.fisglobal.com) Consultant Seniority and Experience: All our people are senior experts in our clients segment; minimum 20 years. Company Experience: Projects at > 200 organizations at over 500 operational sites. We are hired by our clients when they need true experts. 2

3 Project Examples Market Intelligence Services Motor Finance Study Italy Market Feedback Survey for Provider of Insurances to Lenders Annual Auto Subprime Study US Truck F&L Risk Ratio Study Strategy Consulting Business Consulting IT Consulting Lease Company Setup Post-Merger Business Model Optimal Retail Finance Structure Operational Due Diligence for Acquisition Target Credit & Collections Assessment New Product: From Design until Launch New CRM Process Assessment of Operational Feasibility for Centralization Future Functional Target Landscape Functional and non-functional Requirements for New Systems (Retail, WS) RFP for New End-to-End Retail Lease & Loan System Business Subject Matter Resource for IT Implementation Debt Management Assessment Example Business Decisioning Tools Development of POS Price Calculator Staffing Model for Operations Operational KPI Model Large bank. Assessment focus was on retail lending (unsecured, secured) to private consumers. Analysis covered structural set-up, technology, process, performance management, and measurements. Key outcomes: High utilization of automation at early delinquency stages prior to manual efforts, in following stages limited technology support. Cost optimization potential through redefined in-house vs outsourcing criteria. Move from purely amount-driven to risk-based collections strategy. Shortening of lifecycle of debt management efforts based on thresholds and cost-benefit criteria. 3

4 Complexity of the Task General Environment Factors and Dimensions of each Case Risk Policy Costs Purpose Economy Product IT Customer Regulations & Legal Issues Operating Model 4

5 Complexity of the Task General Environment Factors and Dimensions of each Case Customer 5

6 Complexity of the Task General Environment Factors and Dimensions of each Case Product 6

7 Complexity of the Task General Environment Factors and Dimensions of each Case 7

8 Thinking about Customers Who Are You Dealing With? It is a sensitive topic to treat people differently, but effective customer segmentation is vital. Focus on customer relationship means an approach to understand the customer situation and determine a solution, which goes beyond collecting a payment. Which is the Best Contact Method for this customer? What is the Best Time to reach this customer? Source: BenchMark Consulting International Without effective customer profiling and a relationship approach to understand the customer situation you will underachieve. 8

9 Examples of High Performer Attributes Attribute High Performers Other Account Treatment Risk- and customer profile-based Calendar-based Key Loss Measures Financial e.g. Vintage analysis, roll rates and activity-based e.g. no-contact aging Portfolio Point-in-Time Collections Focus Focused on solving delinquency Focused on getting a payment Call Model Collections Strategy Changes Automation Account Assignment Reason for Delinquency and Solution to Cure consistently obtained Event and time driven. Fully automated early collection steps for low risk accounts. Based upon competencies, using both dedicated agents and pools; separate high risk unit. Reason only on refusal to pay Time driven. Automation in support of collection process, but not tied to risk profile. Pools Only Staff Empowerment High degree, with appropriate monitoring Low degree, resulting in excessive handoffs Source: BenchMark Consulting International, Excerpt from proprietary best practices knowledgebase. 9

10 Move beyond the traditional financial Metrics requires to......segment the key operational variables to control and analyze how each one is affecting the performance.... utilize qualitative and early warning indicators. Operational Metrics Amount Collected Account Cure Rate % of Arrears Collected Rate of Promises % of Promises Kept Account Flow Rate Repossession Success Rate Collector Hours - % Peak Dialer Connects Dialer Pass Rate Post Dialer Attempts Right Party Connects Inbound Abandon Rate Talk vs idle time etc. Portfolio / Pool based Metrics Vintage Delinquency Vintage Loss Rate First or early Payment Defaults Cost of Risk Charge-Offs Extension Rates Repeat Delinquencies Amounts of Payment Promises kept and broken in relation to income Viability of Payment Arrangements etc. Customer / Account based Signs/ Metrics Duration of No Contact Unreturned Messages Invalid Address Frequent change of address Frequent change of mobile phone Frequent change of bank account Payment plan adjustment Unemployment Divorce etc. 10

11 High Performers non-traditional Metrics Effective collectors focus customer calls on the following critical actions: Define the reason for delinquency Reach a mutually agreeable solution to the delinquency Update customer information Discuss future payments Source: BenchMark Consulting International, How to Navigate Successfully through the Current Collections Challenge, Low High Component Performers Performers Right Party Contact Rate <15% 35-50% Reason for Delinquency <40% >95% Solution to Cure Delinquency <40% >95% Discuss Future Payments <40% >90% Update Demographics <60% >95% Source: BenchMark Consulting International proprietary data based on own measurements for the above components in the US Auto Finance industry. 11

12 Measurable Profit Improvement through a fact-based approach Argentina Australia Austria Belarus Belgium Bulgaria Brazil Canada China Croatia Czech Rep. Denmark Finland France Germany Indonesia Italy Japan Latvia Luxembourg BenchMark Consulting International: The Business Experts! Macedonia Mexico Montenegro Netherlands Norway Peru Poland Portugal Romania Russia Saudi Arabia Serbia South Africa Spain Sweden Switzerland Turkey Ukraine United Kingdom United States BenchMark Consulting is a leading consulting firm globally in the lending segment (consumer commercial, asset-based unsecured, direct channel indirect channel) with unparalleled database about performance ratios and best practices, project and consultant experience and number of clients. Our holistic consultation approach encompassing analysis of the market, product and portfolio, strategy, operational processes and organizational structures is built upon a fact-based, measurable and modular concept that is transparent to clients and controls their financial risk. Our Services for the Financial Services Industry Highlights Projects at > 200 organizations at over 500 operational sites. Projects for 40 countries around the globe. Projects for most leading players in the passenger car and commercial vehicle / truck segment. Coverage of the entire spectrum from Strategy to Finance and Operations down to desk level. Coverage of the entire product and customer spectrum: Retail, Wholesale, Fleet Finance, Fleet Management, Loan, Finance Lease, Operational Lease, Credit Lines / Revolving, Cards, Services etc. Customized process models, KPI and best practices for each product. Coverage of the end-to-end operational chain. All our consultants are senior experts coming from this industry and with a management background. Unique proprietary Best-Practice and KPI Database with strategies, trends, organizational structures, internal policies, business processes, technology support and the effect on business success. Our focus is on actionable results, implementation and generation of measurable added value. We are hired by our clients when they need true experts. 12

41 T Korea, Rep. 52.3. 42 T Netherlands 51.4. 43 T Japan 51.1. 44 E Bulgaria 51.1. 45 T Argentina 50.8. 46 T Czech Republic 50.4. 47 T Greece 50.

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