Today we are pleased to launch Arum Data Science and Analytics services, specifically designed to help creditor clients unleash the power of internal and external data sources and deliver actionable insights to improve customer journeys and drive better outcomes for their customers in collections.
Data analytics is key to better understanding consumer and business customers – their circumstances, their preferences, their behaviours – especially given the current economic challenges and the increased numbers of customers needing support.
Potential vulnerabilities and financial hardship should be identified before any actions are taken. Collections activities should no longer be based on a ‘one-size-fits-all’ approach, but on defined customer segments, each with differentiated treatment paths appropriate for those customers’ circumstances, using data to select the most appropriate next best action.
For over 23 years, Arum has been helping its clients to prevent and resolve problem debt – with increasing numbers seeking Arum’s help with advanced analytics on portfolio segmentation and the use of third-party data providers, such as credit reference agencies (CRAs). Arum operates independently of any one data provider and our skilled team of practitioners have active experience using data from all three CRAs and also a host of other data providers, combined with deep debt industry expertise.
Using industry-leading tools, Arum can provide advanced reporting and visualisation of complex datasets to turn large volumes of data into actionable insight. This enables clients to maximise returns, manage operational capacity and encourage self-service and digital channels.
Arum’s Managing Director, Carlos Osorio, commented on the launch, “Given the growing size of debt portfolios, many of our clients have been telling us that they want to improve their use of data to make better decisions, but need help. Put simply they want skilled analytical technicians + debt industry expertise + independent of data providers. Arum is perfectly placed to objectively support creditors to understand internal and external data and guide them on the best approach on how to use data to support their focus on treating customer fairly and still maximise portfolio returns.”
About Arum
Arum has been helping organisations resolve problem debt for more than 23 years across 20 global territories. We provide clients (including DWP, Lloyds Banking Group, Barnsley Council, to Westpac in Australia, Butterfield Bank in the Americas, and Hoist across mainland Europe) with independent advice and practitioner support across collections and revenue.
Whether choosing or implementing collections technology, navigating digital business transformation, or improving customer treatments to achieve better outcomes, Arum experts are trusted by leading brands across public sector organisations, financial services (banking, lending, debt purchase), utilities, and telecommunications companies.
The Arum mission is simple: to deliver independent collections and revenue solutions globally. This is achieved by improving regulatory, credit risk and portfolio performance, whilst maximising returns on clients’ technology investments.
Within the public sector, Arum aims to build better outcomes for citizens by improving the collection of local and central government revenues that fund public services. What’s more, the majority of Arum’s team of experts started their careers in government and financial services roles.
Arum provides a blend of practitioner-led consulting and end-to-end change and programme delivery services. Our knowledge of the creditor and software landscape is unrivalled and includes 30+ system vendors such as CGI, Equifax, Experian, Exus, C&R Software/FICO, Pega, Qualco and Tietoevry.
We’re collections and revenue experts and work collaboratively with our clients to prevent and resolve problem debt.
Arum media contact
Hannah Woodward, Head of Marketing, Brand and Communications