Pega Collections is a debt collection solution for Retail Banking. To improve the success rate on collections, you can use Pega Collections in conjunction with Pega Customer Decision Hub.

Using Pega Customer Decision Hub with Pega Collections

In today's highly mobile society, it is much more difficult for banks to engage with mobile debtors since they do not have the tools necessary to engage with them wherever they happen to be. As a result, debtors quickly become frustrated and what should be a win-win scenario often turns into a lose-lose proposition.

Pega Customer Decision Hub supports Collections decisioning to help you make smarter decisions throughout the collections life cycle, and to help banks save time and increase the success rates on debt collection.

This document will help you understand how you can leverage the Retail Banking Next-Best-Action Designer template to configure your Pega Collections strategy to help you manage debt collection.

• Getting started with Pega Customer Decision Hub for Collections

  To help you implement industry best practices for Retail Banking, configure your Pega Customer Decision Hub implementation application by using Pega Customer Decision Hub accelerators for Financial Services.

• Importing Customer and Account data for decisioning

  To make the best, most relevant next-best-action decisions, provide access to the most current and comprehensive data about your customers, their demographics, product holdings, activity, and other information that may be stored in third-party systems.

• Sending payment reminders

  Send interactive voice and text messages, emails and push notifications to customers who are past due to encourage self-service and accelerate payments. These proactive, automated interactions help your bank get ahead of other creditors while freeing your collectors to focus on more complex issues, reducing the time and cost of treating delinquent accounts.

• Recommending payment plans

  Your customers expect you to make their life easily – providing the payment option that suits their current financial conditions, on the channel they prefer.

• Frequently asked questions about Pega Customer Decision Hub for Collections

  See the following topics for additional information, tips and tricks, and best practices.