TransUnion and Ontario Systems Integrate New Collection Scoring Model to Improve Recovery
TransUnion (NYSE:TRU) and Ontario Systems announced today a new collaboration to provide collection agencies with TransUnion’s new CreditVision® recovery model. The model will integrate with Ontario Systems’ technology and allow collection agencies and debt buyers to increase recovered dollars by up to 9%.
Previously, Ontario Systems and TransUnion customers used traditional recovery scores and credit reports to prioritize collection amounts. Now, Ontario Systems’ customers can access the CreditVision recovery model, which incorporates historical information on each loan and actual payment amounts. Collection agencies and other accounts receivable managers can use the models to better identify payment patterns and increase their average recovery rate.
“While traditional models allow collectors to prioritize accounts, the credit environment has changed and consumers are using credit differently. The new CreditVision model is built on newer, fresher consumer behavior and will help Ontario Systems’ customers identify an average of 3% more payers.”
The integration builds on a recent TransUnion and Ontario Systems partnership to offer batch solutions through TransUnion’s TLOxp. For the past 20 years, both TransUnion and Ontario Systems customers have benefitted from their technology integrations.
“We’ve worked with TransUnion for years to seamlessly integrate our solutions with their technology and data,” said Chris Cochran, senior director, product management at Ontario Systems. “With the new recovery model, our customers will have access to more data and better insights.”
For more information, visit http://www.transunioninsights.com/collectionsmodel/.
About TransUnion (NYSE:TRU)
Information is a powerful thing. At TransUnion, we realize that. We are dedicated to finding innovative ways information can be used to help individuals make better and smarter decisions. We help uncover unique stories, trends and insights behind each data point, using historical information as well as alternative data sources. This allows a variety of markets and businesses to better manage risk and consumers to better manage their credit, personal information and identity. Today, TransUnion has a global presence in more than 30 countries and a leading presence in several international markets across North America, Africa, Latin America and Asia. Through the power of information, TransUnion is working to build stronger economies and families and safer communities worldwide.
We call this Information for GoodSM. http://www.transunion.com/business
About Ontario Systems
Ontario Systems, LLC is a leading provider of accounts receivable and strategic receivables management solutions for the collection and healthcare industries. Offering a full portfolio of software, services and business process expertise, Ontario Systems customers include nine of the 10 largest collection agencies and three of the top six best health systems in the U.S., with 55,000 representatives in more than 500 locations.