Our solutions

Arrears Management

Target's innovative arrears management solution manages the entire arrears cycle from identifying early repayment problems and managing delinquency, through to debt recovery, debt sale and litigation.

Our collections management software puts you in contol of your arrears exposure enabling you to be first in line for payment and prioritising the risk to your business.

We have designed our solution to meet the key challenges of today's market and make a real difference to your business.

Product features

  • Informed Risk Profiling

    • Individual account risk indicators can be applied to arrears portfolios based on current information, historic account data and third party data where available
    • Identification of accounts showing signs of stress can drive pro-active campaigns and strategies throughout the arrears lifecycle
    • Automatic allocation of work based on risk enables the effective management of accounts and customers according to the real risk to your organisation

  • Active Strategy Management

    • Flexible strategies can be quickly and easily amended to support market or regulatory change
    • Rules driven strategies facilitate the application of exception management to deal with non-standard cases
    • Risk profiles direct accounts to most suitable strategies ensuring the right activities are applied to the right account at the right time via the right channels
    • Target's team of experienced Arrears Consultants will work with you to define and configure bespoke strategies

  • Intelligent Automation

    • High levels of automation mean time consuming activities are completed faster and more effectively with minimal manual intervention
    • The automatic extraction, prioritisation and distribution of cases enables realisation of significant savings in supervisory and administration time over manual systems
    • Work can be reallocated to teams or individuals on a real time basis throughout the day
    • Automated assignment of third party agents to relevant cases

  • Arrangements to Pay

    • Configurable user mandates prevent unattractive promises and arrangements being set up
    • Automated payment reminders issued by letter or SMS
    • Tolerance rules can be applied to prevent unnecessary broken promises where payments are outside the terms agreed with the customer
    • Active broken promise strategies drive re-engagement with your customers
    • Broken promises identified day after promise due
    • Easy measurement of success rates of promises taken, allows individual collector performance to be measured

  • Champion Challenger

    • Champion / challenger capability enables thorough testing and analysis of innovative strategies
    • Alternative strategies or stages within strategies can be applied
    • Test new letters and strategy timescales and measure effectiveness against MI

Highlights

  • Client installations currently producing collections results significantly above FLA industry benchmarks
  • High levels of automation for maximum efficiency
  • Risk based approach
  • Encourages early intervention to reduce arrears exposure
  • Use of Champion / Challenger techniques for strategy refinement
  • Comprehensive MI for full transparency

FAQs

Which loan products does your software support?

Target's software supports a wide variety of loan products including residential and commercial mortgages, equity release, second charge, motor, unsecured and insurance premium finance products.

How can I track operator performance to ensure targets are being met?

The solution provides real time reports on key collector performance indicators such as: numbers of accounts worked within each allocated risk category, promises to pay recorded by a collector, amounts collected against specific promises and many more. Target can provide consultancy and support to develop bespoke reports and advice on the provision of data to existing reporting tools or data warehouse facilities to provide a wide reaching reporting capability.