PIC Solutions Optimizes Effectiveness

Stephen Leonard, chief executive officer of PIC Solutions, a leading specialist credit risk solutions company in the EMEA region with offices in several regions of Africa was at the just concluded CardExpo that held at the Civic Centre, Ozumba Mbadiwe Street, Victoria Island, Lagos.
In an exclusive interview with Nigeria CommunicationsWeek, Leonard revealed that the company that delivers integrated analytics, consulting, software solutions and credit scoring to more than thirty countries of the world has been in business for over ten years.
Leonard said the company so far has six clients in Nigeria and that from experience he has observed that one of the problems facing the banks is bad debt and said that with CollectSmart, a collection management system that combines industry best practices, leading edge functionality and the best aspects of many credit management systems into a single powerful and practical collections solution, banks can reduce the incidence of bad debt.
According to him, CollectSmart combines business segmentation with the allocation of appropriate and differentiated actions to individual customer profiles all accessed via an easy to use interface.  Features of the solution include: control of multiple portfolios independently or at consolidated level, user controlled segmentation trees and allocation of actions, real-time allocation of collectors to work queues, customized user friendly collections screens among others.
Leonard intimated that the collections arena is complex and that utilizing a combination of strategy, technology and human capital to achieve the organizations goals becomes inevitable even as he said that what differentiates the best companies from the rest is the ability to effectively mange a number of key areas such as collections costs, recoveries, customer interactions and  collections resources .
Further he said what will be interesting to banks and telecommunication companies is Credit Bureau  which he said holds the whole data of other banks  on a particular creditor. Leonard explained that the product introduced to the Nigeria market in the past seven weeks, is a strong tool that can help telcos to know the financial standing of their postpaid applicants.
In their consulting solutions, Leonard informed that their consulting professionals provide a wide range of customer management solutions which deliver business benefits throughout the entire credit life cycle, from initial marketing pre-screening to applications processing, collections, portfolio management, provisioning and charge-off policies while in the fraud management , their specialist personnel have a track record of adding value across the entire fraud life cycle – from point of application to compromise and usage.