The industry challenge
The leasing market covers a wide range of products and services, including automotive, equipment and real estate. Risk management is complex with a range of consumer and commercial customers as well as the different levels of asset securitisation.
The leasing market can be highly competitive and price-led so organisations need to offer a quick and efficient service for new applicants. Unlike many forms of credit, a leasing relationship can be long-term so customer retention and growth are key drivers. Collections need to be managed proactively with early warning of delinquency reducing costs and increasing the likelihood of the asset being recovered.
The answer
Experian's proposition for the leasing industry uses an accurate assessment of risk and value, enabling the organisation to structure lease terms and tailor pricing to each applicant.
Following acceptance, organisations can build a profitable long-term relationship with the customer through effective communication and incentives, as well as proactively managing collections activity.