arum launches a data science and analytics service

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 specialist 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.”