Video: 20-25% Reduction in Auto Lender Delinquencies…Yes Please
Blog: Enterprise Decision Management Blog
Over the past two years, the total open balances of outstanding automotive loans has grown from $784B to $968B, up nearly 25% between Q3 2013 and Q3 2015 (source: Experian-Oliver Wyman Market Intelligence Reports). Couple that with the fact that the average term of the loans, the average amount financed and the average monthly payment are all increasing year over year, and it appears the auto lending market is heating up.
There’s an unfortunate flip side to that coin: delinquencies. We’ve seen that using analytics to target potentially delinquent customers before they get into trouble is a good way to keep customers on track. Analytics can also help companies appropriately assign collection treatments to reduce losses and keep operational costs down.
In this video, Tom Dehler, customer management segment leader at FICO, discusses how auto lenders can get 20-25% reductions in delinquencies.
The post Video: 20-25% Reduction in Auto Lender Delinquencies…Yes Please appeared first on FICO.
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