The industry challenge

The rise of internet shopping has revolutionised the home shopping market. Traditionally the preserve of catalogue shopping, the Internet has opened up the market to millions of consumers looking for value and convenience with home delivery.

Retailers offering credit to shoppers need to meet customers’ demands for speed and convenience, but need to achieve this with robust risk management and fraud prevention in the anonymous environment of the Internet and other channels. In the highly competitive market, organisations need to build customer loyalty from the first interaction and maximise customer value, while balancing exposure and the risk of delinquency in large portfolios of low value accounts.

The answer

Experian offers Decision Analytics to meet the challenges of mail order lending. Spanning the customer life cycle, a lender can rapidly make a robust decision for every customer, setting terms and limits that reflect the risk of the applicant.

Once accepted, regular and relevant communication and sales offers create and maintain the customer relationship while accurate customer management ensures regular payments are maintained, exposure is managed and delinquency is dealt with quickly and appropriately.