DELIVERS CONTROL, CHOICE & FLEXIBILITY DATA SHEET ACI VIRTUAL COLLECTION AGENT COLLECTIONS LEADERSHIP BASED ON PROVEN RESULTS ACI Virtual Collection Agent collects almost $2 billion in consumer debt annually for some of the world s biggest brands. A top three global bank improved collections performance by 5X by shutting down their in-house debt collection website and outsourcing to ACI s Virtual Collection Agent. Virtual Collection Agent emulates the interactions of an organization s best collection agent in a convenient, 24-hour-a-day, online environment. In surveys, consumers have said that they prefer an online environment 4-to-1 over talking to a person to resolve their debts. Virtual Collection Agent is an easy-to-own solution that provides unequaled control of the collections process. Unequaled control means a customer owns their process and directly translates their expertise into more collections, without first having to execute a software project. Virtual Collection Agent is a secure and effective system built on collection best practices and meets all financial industry requirements, IT industry standards and internet security standards. The combination of these domains of expertise is a best-in-class online debt collection and payment solution.
ACI VIRTUAL COLLECTION AGENT CAN GET ORGANIZATIONS TO BEST- IN-CLASS PERFORMANCE IN DEBT COLLECTION. WITH VIRTUAL COLLECTION AGENT, ORGANIZATIONS CAN REACH MORE ACCOUNTS AND COLLECT MORE PAYMENTS. PROVEN RESULTS, BY THE NUMBERS A top-five credit card issuer performed a fivemonth online test of Virtual Collection Agent versus business as usual. Virtual Collection Agent was a fully-branded part of the card issuer website and multiple communications were sent to a random mix of delinquent accounts to invite their participation. Reduced charge-offs: 5.7% reduction in flow rate to charge-off for Virtual Collection Agent versus business as usual, improving loss-avoidance by $3.1M annually on $50M in delinquent accounts More contacts 45% of website visitors were not contacted in over 180 days; 69% of these were late-stage accounts. Over 22% of log-ins were outside the call center window; 18% of log-ins were weekend. Increased payments: 155 basis-point increase in accounts making payments and 53 basis points improvement in debt liquidation FEATURES AT A GLANCE ONLINE DEBT COLLECTION SERVICE THAT EMULATES THE INTERACTIONS OF THE BEST COLLECTION AGENT CALL CENTER AGENTS CAN USE VIRTUAL COLLECTION AGENT AS A TOOL TO UNIFORMLY APPLY THE SAME STRATEGIES TO EVERY ACCOUNT Lower cost: 7.8% increase in payments from late-stage accounts while reducing related call center expense 9% Personalize offers with real-time consumer information customers provide STRATEGY MANAGER ENABLES ORGANIZATIONS TO BUILD AND ADAPT COLLECTION STRATEGIES BASED ON RULE SETS AND INDIVIDUAL CONSUMER INFORMATION PERSONALIZED OFFERS WITH THE CONSUMER S ACCOUNT INFORMATION AND ANY OTHER INFORMATION THAT IS GATHERED DURING WEB SESSIONS RICH REPORTING SO ORGANIZATIONS CAN ADAPT THEIR RULES AND STRATEGIES TO MAXIMIZE COLLECTIONS CLIENT WORK BENCH GIVES ORGANIZATIONS THE POWER TO FULLY CONTROL THE CONTENT AND RULES WITHIN THEIR COLLECTION SITE EASILY CREATE DIFFERENT SITES TO COLLECT DIFFERENT DEBT MULTI-LINGUAL SUPPORT SO CONSUMERS CAN EXPERIENCE EVERY ASPECT OF THE SITE IN THEIR PREFERRED LANGUAGE 2
HOW ACI VIRTUAL COLLECTION AGENT BENEFITS ORGANIZATIONS A COLLECTIONS SOLUTION THAT COLLECTS MORE PAYMENTS FASTER Virtual Collection Agent can get organizations to best-in-class performance in debt collection. With Virtual Collection Agent, organizations can reach more accounts and collect more payments with powerful tools such as a Strategy Manager, smart rules, personalized offers, new incremental payments and rich reporting to maximize consumer acceptance of offers. Virtual Collection Agent also helps assure consistency between web and agent offers, along with the security of activity audit trails for each account. AUTOMATE TOP AGENT BEHAVIOR OVER THE WEB Virtual Collection Agent puts top agent behavior on the web for around-the-clock coverage. Organizations get compelling offers made 24 hours a day, without additional call center costs. Consumers prefer to pay overdue bills online via Virtual Collection Agent by 4-to-1 over other methods. They get a non-confrontational online environment within which to discover and initiate debt repayment at their pace. Using the Strategy Manager inside Virtual Collection Agent, an organization can build and adapt collection strategies based on rule sets and individual consumer information. The offers that apply to each consumer show up during the consumer s visit to the collection website, in the order and at the place chosen. A strategy is a collection of rules and offers organized into a campaign or a specific business application. For example, one strategy may be used every day, but a more aggressive strategy for end-of-month or end-of-year may be used, as warranted. Different strategies are often created to test for the best results. PERSONALIZE OFFERS WITH CONSUMER INFORMATION Payment offers in Virtual Collection Agent can be personalized with the consumer s account information and any other information that is gathered during web sessions. As a result, offers are so relevant that organizations get preferred access to the consumer wallet for earlier debt payment. When more than one loan or debt is held by a consumer, Virtual Collection Agent provides visibility into multiple accounts. So, Virtual Collection Agent can service the complete relationship for even an organization s most valuable accounts. MAXIMIZE OFFER ACCEPTANCE RATES WITH RICH, DETAILED REPORTS Virtual Collection Agent provides rich, detailed reports on the results from payment offers. From this information, organizations can adapt their rules and strategies to maximize the offer acceptance rate. An example of the unique insight organizations get is the cure rate report which shows how accounts cured. The report provides the number of standalone payments, multiple payment schedules created and offers accepted. This data is shown as a ratio of these curing actions to the number of eligible accounts during each reporting interval. Daily and monthly reports available within Virtual Collection Agent can be viewed online or downloaded in PDF, Excel or comma separated value (CSV) formats. 3
VIRTUAL COLLECTION AGENT REPORTS Site Activity reports: Website activity and feature usage Enrollment, logons, security Feature usage Logons by hour Payment activity Collections Activity reports: Website payment activity Collection strategy results Online payments Promise to pay Payment programs enrollment by delinquency stage Payment programs enrollment by program Site activity Cure rate Key performance indicators BUILD ROBUST STRATEGIES WITH THE BUILT-IN WORKFLOW The Strategy Manager provides a complete workflow process to consistently design offer strategies and engage consumers. Not only does Strategy Manager provide a consistent and repeatable process, it also tests strategy elements against a significant sample of accounts to quantify the expected results. The advantage of this building block approach is that each element can be re-used in the future. The elements used within the workflow process are: offers, rules, strategies, publications and applications for an offer. The offer feedback, rich data export and detailed activity history enable continuous process improvement, along with comprehensive reporting and audit support. DESIGN THE STRATEGIES BUILD THE OFFER: DEFINE THE TREATMENT TO BE APPLIED TO DEBTORS Service reports: Use of payment tools by call center personnel Staff usage report Group report Inquiry type report Create name and description for the offer Identify the payment options Identify the payment schedule to be used Build the personalized dialog for the offer Validate and save GET CONSISTENT WEB AND CALL CENTER INTERACTIONS Call center agents can use Virtual Collection Agent as a tool to uniformly apply the same strategies to every account. Not only do organizations get consistency across accounts from agent to agent, they get consistency between the web and their call center. Using the built-in on-screen scripting, all agents can deliver compliant dialogs that reflect an organization s best agent s interactions for each offer. And, whether an account is accessed from the call center by the consumer, Virtual Collection Agent keeps a detailed audit trail so that the history of activities on an account can be viewed at any time in the future. DEVELOP RULES FOR ELIGIBILITY: DEFINE THE ELIGIBILITY RULES FOR OFFERS Create name and description of the rule Build the rule criteria Test the rule and estimate the results Validate and save the rule ASSEMBLE STRATEGIES: IDENTIFY A COLLECTION OF ASSOCIATED RULES AND OFFERS Create name and description of the strategy Choose the rules for the strategy Test the strategy and estimate the results Validate and save the strategy 4
STRATEGY PUBLICATION: GATHER STRATEGIES INTO PUBLICATION CAMPAIGNS Select strategies to be published Test the strategies and estimate the results Prioritize the presentation of strategies to consumers Schedule the publication of the strategy Final review and publishing AN EASY-TO-OWN SYSTEM CONTROLLED FROM THE DESKTOP Virtual Collection Agent is an easy-to-own solution that offers unequaled control of the collections process. With full control, an organization directly translates their expertise into more collections without first having to translate it into a software project. With Virtual Collection Agent, organizations can use the managers within the client workbench to turn rules and features on and off, create different collection sites for different consumers, test offer strategies, configure and change web content, use multiple languages and manage consumer accounts. CONTROL WEB COLLECTIONS From the client workbench within Virtual Collection Agent, an organization can fully control the content and rules within their collection site. So, they never wait on other people s work to complete they make the collection changes they need when they need them. The client workbench gives them the flexibility to easily manage their site quickly and without lengthy, costly, professional services engagements. This empowers continual improvement, testing and quick application of new collection concepts. Whether they are managing multiple brands or simply need to make some changes to their site, the client workbench will make the task easy. Site Configuration Content Management Srategy Management Account Data Interchange Analytics Access Management Account Management Agent Payment Entry Payment Processing Secure Messaging Call Back Request Contact Information Update Authentication Negotiation Compliance Dialog Treatment Presentation 5
ASSURE EFFECTIVE AND COMPLIANT AGENT INTERACTIONS Virtual Collection Agent tools help to ensure effective, consistent and compliant interactions with all consumers, whether by web or by call center. Agents get secure electronic communications with consumers and can view account data through the client workbench. On-screen scripting can be built by the best agents to assure that all agents conduct a consistent, compliant and effective dialog with consumers. Organizations can be confident that the advice of their best and most effective agent is supporting every consumer contact. When combined with the agent activity reports, scripting is a strong agent training and management tool. CREATE DIFFERENT SITES TO COLLECT DIFFERENT DEBT Different sets of consumers, different types of debt and different strategies means organizations need different collection offers, different dialogs and different ways to pay. With Virtual Collection Agent, organizations can use an unlimited number of websites to closely relate with different consumers and maximize offer acceptance rates. Alternative websites are also a great way to test new offers with selected audiences before rolling them out. With Virtual Collection Agent, websites can be used to segment collections by products, business unit, branding or placement. Each site can have its own look, feel, messaging, features, business rules and collection strategy. Once created, organizations can view, delete and edit each site in real time. ACCESS MORE USERS WITH MULTIPLE LANGUAGES AND ADA CERTIFICATION Increasing consumer diversity means that an increasing number of consumers use a language other than English. Organizations need multi-lingual capabilities to deal with this new level of consumer diversity. Website accessibility can be further enhanced with certification to Web Content Accessibility Guidelines 2.0 Level AA. This level of compliance provides for captioning and audio descriptions for prerecorded video to assist hearing- and sight-impaired consumers. This certification is optional for fully configured client websites. ENGAGE CONSUMERS WITH VIRTUAL COLLECTION AGENT CONSUMER APPLICATION: RAISE THE CONSUMER S AWARENESS OF OFFERS Consumers may think all they can do over the web is pay in full. Raising awareness of Virtual Collection Agent s unique capabilities and a company s willingness to work with the consumer toward resolution can boost online contact rates by five, 10, even 20 times the current rate. Promotional codes can be used to track marketing campaigns or agent referrals and even trigger special offers when entered. Answers are used to trigger offers tailored to the specific situation and personalized with the consumer information. This capability significantly improves offer acceptance and the resolution of delinquencies. PRESENT OFFERS: MATCH THE RIGHT OFFERS TO THE RIGHT CONSUMERS Attractive site messaging notifies consumers of available offers based on eligibility rules. Additional online forms can gather information about a consumer s willingness and ability to pay and respond with offers that best fit their particular situation. Making the offer in real time during the consumer s website session increases the likelihood of acceptance and satisfactory completion of the arrangement. With multi-lingual support, consumers can experience every aspect of the site in their preferred language messages, offers, payment flows, even buttons and error messages. Virtual Collection Agent can be deployed in English plus three languages of an organization s choice within each website. So, now organizations can put the online and multi-lingual agents in place to service more of their accounts even better. 6
RESOLVE DELINQUENCY: MAXIMIZE THE VALUE OF EVERY CONSUMER INTERACTION After a rich dialogue informs consumers about the offer, the integrated payment processing guides them through the creation and scheduling of the payments, eliminating the need for any interaction with live agents. If no offer meets the consumer s ability to pay, the consumer can click to chat, schedule a callback from an agent or complete an online rejection survey providing a warm lead for outbound calling. INCREASE EFFECTIVENESS: UNDERSTAND CONSUMER BEHAVIOR For every offer presented to a consumer, the rich reporting within Virtual Collection Agent shows the outcome of that interaction, all the elements of the offer and the consumer s account information. This data tells what offers are working and why those offers are working. This depth of understanding is the basis for meaningful continual improvement. SECURE, EFFECTIVE SERVICE BUILT ON BEST PRACTICES Virtual Collection Agent is a complete system built on collections best practices, financial industry requirements, IT industry guidelines, and internet security standards. Virtual Collection Agent combines the best from all these domains of expertise to provide a best-in-class online collection system. So, organizations can rest easy knowing that they have a secure, up-to-date business system that will stay that way. A SECURE AND RELIABLE VALUE FOR THE BUSINESS Virtual Collection Agent provides best-in-class online debt collection service and payment supported by years of leadership and focused investment. Incorporated into Virtual Collection Agent are the best practices from collection industry leaders across millions of accounts. The security of personal and financial information is the single most important aspect of financial web operations. ACI Worldwide staff experts in data security and integrity use their expertise to ensure that the tens of millions of accounts on file in the company data centers are fully secured from unauthorized access. ACI Worldwide uses the highest level of best practices for security, redundancy and encryption to assure all network traffic and data storage is fully secure and the system exceeds its uptime goal. ACI Worldwide is committed to data security at all levels to ensure this record extends far into the future. ACI Worldwide Corporate Risk Management and Security manages a robust program using independent third-party specialists such as CyberTrust for penetration testing, vulnerability assessment and security testing. Compliance audits are conducted by third-party specialists for: PCI DSS Tier 1 for payment processing security SSAE16 for security and reliability of operational controls Sarbanes-Oxley 404 IT for all information technology controls ACI Worldwide Internal Audits, reporting directly to the board of directors, conducts testing on a regular schedule to satisfy corporate standards for: Financial controls Infrastructure and application penetration Physical and logical security The Federal Financial Institution Examination Council performs an annual technology service provider examination of ACI Worldwide operations for business continuity, disaster recovery, information security, privacy, financial management, IT management, systems support, development, internal audit, payment systems and other areas. INTEROPERABILITY The Virtual Collection Agent integrates with the ACI Bill Payment Engine, a single, integrated platform that orchestrates and manages the complexities of bill presentment and payment processing to achieve the best results possible. After consumers agree to make a payment, Bill Payment Engine handles the payment processing. 7
Business Real Time Digital Scanline ODFI Originating Depository Financial Institution BANK CARD JOSE A MENDEZ Debit Consumer Data Bill Information Analytics ACI BILL PAYMENT ENGINE User Configuration Web Mobile Logic Data Model IVR Custom UI Consumer User s API Agent Settlement Endpoints elockbox Settlement Configurator Payments, History ebills, Maintenance Admin Payments, Inquiries Maintenance Biller Endpoint Network No tificatio ns BEN Bill Payment Engine Reporting Tracking Chargebacks Reconciliations Settlement ebills and Billing Information Electronic Connections 9,000+ Endpoints Returns Biller ebill Information Financial Institutions & Consolidators ebills Billing Account Information Disbursement Information Document Processing Services User Profile Bill Pay Wallet on Cloud PCI Compliance user data Account Data ACH Network 5412 7500 1234 5678 Credit and Debit Card Data Warehouses Payment Networks Processor Network Card Processors REVOLUTIONIZES PAYMENTS ACI Worldwide, the Universal Payments company, powers electronic payments and banking for more than 5,600 financial institutions, retailers, billers and processors around the world. ACI software processes $13 trillion each day in payments and securities transactions for more than 300 of the leading global retailers, and 18 of the world s 20 largest banks. Universal Payments is ACI s strategy to deliver the industry s broadest, most unified end-to-end enterprise payment solutions. Through our comprehensive suite of software products and hosted services, we deliver solutions for payments processing; card and merchant management; online banking; mobile, branch and voice banking; fraud detection; trade finance; and electronic bill presentment and payment. To learn more about ACI, please visit www.aciworldwide. com. You can also find us on Twitter @ACI_Worldwide. 8 www.aciworldwide.com Americas +1 402 390 7600 Asia Pacific +65 6334 4843 Europe, Middle East, Africa +44 (0) 1923 816393 Copyright ACI Worldwide, Inc. 2015 ACI, ACI Payment Systems, the ACI logo, ACI Universal Payments, UP, the UP logo and all ACI product names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties trademarks referenced are the property of their respective owners. ADS5734 03-15