How improving debt collection gave a financial boost to a consumer finance company

A  consumer finance company, striving to do better in difficult market conditions, turns to CRIF and chooses CRIF’s Debt Collection & Recovery solution CLever, to be innovative and efficient in debt collection with a customer-centric approach.

In the midst of an economic crisis, Consum.it, needed an overhaul of its approach to collections in order to improve collections performance while also lowering costs. 

CLIENT: Consum.it, the consumer financing arm of the Monte dei Paschi group.

NEEDS: Debt collection, re-engineering to improve performance and reduce costs.

SOLUTION: CLever, CRIF Credit Management Platform's software for Debt Collection & Recovery, combined with CRIF's expertise in Collection to help  Consum.it analyze and overhaul their debt collection processes including a complete review of the organization of teams involved.

RESULTS: End-to-end management, debt collection management involving 30 external collection agencies, leading to significant cost reduction and debt collection performance improvement with adopt continuous improvement approach to adapt and evolve.

"The roll-out of the new processes and collection management philosophy has led to greater consistency in the activities of Consum.it and our external collection agency partners, enabling us to take advantage of synergies in the operating cost business plan and establishing continuous improvement which starts from the analysis of monitoring the KPIs produced by the strategic reporting and moving to the periodic recalibration of strategies, that brought ongoing improvement in collection rates and positive impact on provisioning".

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Process & Strategy Optimization

Putting our knowledge into practice by helping our customers analyze and improve the efficiency and effectiveness of business operations and strategies in every phase of the credit lifecycle, from engagement and origination to customer management and debt collection.

CLever: Debt Collection & Recovery

CLever provides complete and streamlined management of the collection process, from early collection through late collection and recovery.