Bank Reduces Debt Collection Costs Through Big Data Analytics

Bank Reduces Debt Collection Costs Through Big Data Analytics

forbes.com

Analytics is a hot topic for a reason — it can save firms significant amounts of money by showing that the obvious process isn’t always the most cost-effective.

Mu Sigma, a consultancy based in Chicago and Bangalore, worked with a U.S. regional bank that saw its early stage delinquent credits jump to $45 million during the economic downturn.The bank wanted to see how it could maintain its 98 percent collection rate while reducing staffing and technology costs.

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