Invoice prediction & analysis for debt collection companies

Offentlig prosjektsammendrag

Goscore develops various solutions within customer profiling and making credit scoring fair and based on real-time data for everyone in the EU. One of the applications of proper credit scoring is helping companies and private individuals pay their debt, which becomes especially important if the claim is forwarded to the debt collector. In this project, we are looking to validate needs for a personalized solution for debt collection companies to help their debtors pay the debt with no additional fees and sacrificing neither personal nor household finance. We are also eager to help debt collectors to reach operational effectiveness which, in turn, will allow them to give significant incentives to the debtors. We have previous experience in analyzing data for loan application decision making; helping lenders to understand and fairly assess loan applications for new and existing customers. And for this pre-project, we want to validate if that knowledge and experience can be applied and leveraged in another industry, debt collection, which has the benefit of being less complicated than banking and don’t have access to most of the data available to banks. The goal of the pre-study is to: • validate the need and strengthen the value proposition; • test if the data analysis help debt collection companies reach operational effectivity, increase debt return rate and get reliable forecasts for each case; • define which cases and tools could be used by the debt collectors to improve return rate and help corporate debtors to maintain cash flow or private individuals to build sustainable personal or household economy; • map out the potential social sustainable impact this solution can have; and • confirm interest in the solution and get proven numbers to sign pilot customer(-s) to integrate and/or have an innovation contract.