Attunely Inc., a pioneer in deploying machine learning to maximize revenue recovery, is announcing the release of an innovative Time of Day model to their existing suite of dynamic machine learning models to drive more efficient and productive revenue recovery efforts.
Time of Day Model
Leveraging billions of de-identified historical call records, Attunely’s Time of Day model is a new, innovative solution for a longstanding challenge in the financial services industry — finding the optimal times to contact each consumer. Combined with Attunely’s existing Liquidation scoring model, it produces a dialer-ready call file that matches the highest-yielding accounts with their preferred time slots. This allows for more contacts using fewer call attempts, building on Attunely’s comprehensive suite of machine learning models.
“Our chief objective with Time of Day is to provide for a better consumer experience. The opportunities in the fintech space are many and we think the collection and debtor interaction can be greatly improved through the creation and implementation of innovative personalization technologies like the Time of Day solution,” said Scott Ferris, CEO, Attunely.
Powered by de-identified consumer behavior from customers, Attunely’s machine learning platform prescribes the most effective outreach tactics through every phase of the servicing and delinquency life cycle. Attunely’s models are customized to enhance revenue recovery, reduce expenses, prevent customer churn and identify the best time of day to reach a consumer.
“As a long-time participant in the financial services industry, I have seen many innovation initiatives come and go. Some have met expectations, others have not. Attunely is well positioned to be an impactful fintech pioneer by bringing pragmatic machine learning to the consumer delinquency and consumer credit cycle,” said Jack Lavin, Managing Partner, Javlin Partners, and an Attunely outside board director. “Furthermore, Attunely has moved out of the proof of concept stage. They are engaged with customers today to unlock value and create new efficiencies.”
The Time of Day solution joins the following in-market Attunely dynamic scoring models:
Propensity to Pay Model
The Attunely propensity model estimates the likelihood of immediate payment from each delinquent account, producing an overall probability score that changes dynamically in response to ongoing interactions between an organization and its consumers.
The Attunely liquidation model combines behavioral signals with a client’s historical transaction data to produce an expected value when liquidating debt. It is informed by billions of historical calls, letters, emails, and text messages, and dynamically refines an account-level score based on each interaction with the consumer.
The Attunely Omnichannel score ranks each communication channel and identifies the highest-yielding form of outreach on every account. Combined with the liquidation score, this strikes the optimal balance between immediate recovery, maximizing long-term recovery, and giving the consumer time to repay.
Settlement Optimization Model
Attunely’s Settlement models leverage de-identified historical collection data to estimate the likelihood, timing, and expected liquidation value of contingent or purchased debt portfolios. This enables recovery experts to calculate the best offer, whether that’s a settlement, payment plan, or paid-in-full demand for every account.
Delinquency Prevention Model
The Attunely pre-delinquency model estimates the risk of an account entering delinquency. It leverages behavioral analytics and detection of anomalies to identify which accounts are most at-risk and then recommends the most effective communications channel for preemptive outreach, including offering delinquency mitigation programs.
Default Prevention Model
Attunely Default models determine which accounts require minimal intervention and which need additional counseling or support to prevent default. They provide a dedicated approach to handling alternative successful outcomes, such as deferrals, forbearance, or third-party revenue streams.
Agent Productivity Model
The Attunely Agent model provides insights into the performance of each collection agent with different types of accounts. Combined with time of day algorithms, this method enables more effective staffing strategies by matching individual agents with specific accounts and appropriately balancing their work loads.
Adds Attunely CEO Scott Ferris: “Our dynamic scoring models help Attunely customers unlock the value within their own databases by maximizing the best time to reach a consumer, increasing margins, improving resource management, and enhancing compliance. We are excited by the impact they are making in our client environments.”
About Attunely Inc.
Attunely is a cloud-based, yield optimization platform for the financial services and receivables management industry that uses the latest advances in machine learning to increase yield in the revenue recovery process, thus improving outcomes for creditors, lowering risk in the credit ecosystem, and facilitating a better consumer experience. For more information, visit http://www.attunely.com.