|
|
|
|
LexisNexis Search and Intelligent Results Develop Hosted Solution
|
|
Boca Raton, Florida - (Website Hosting Directory) - July 5, 2006 - LexisNexis Risk Management, the legal, news, business information and risk management services firm, and customer analytics software for financial services company, Intelligent Results, have joined to form a hosted solution for the collections industry, designed to facilitate operational efficiencies and increase agency revenue streams.
The hosted solution will combine data amassed by LexisNexis and Intelligent Results strategy software. The LexisNexis(R) data includes information on individuals, businesses, assets and more. LexisNexis Risk Management is licensing key components of Intelligent Results' Predigy platform to provide a decision management solution for the collections industry -- from real-time what-if analysis, strategy development and predictive modeling all the way through execution, deployment, and reporting.
The $15 billion collections industry faces unprecedented challenges, including rising costs and deteriorating debt portfolios that are eroding margins for collections agencies. One way to reverse this trend is to provide agencies with comprehensive and reliable data along with analytics and modeling capabilities to increase the probability of successful portfolio collections.
LexisNexis is a leader in information services and works with more than 14,000 financial institutions to provide collection and recovery solutions that help customers increase revenue and reduce the risks associated with conducting business. Intelligent Results, which works with five of the top 10 banks and leading collections agencies, offers both an integrated analytics and decision management platform called Predigy and a series of specialized Action Applications for collections.
While analytics and strategy development software has typically been used by the largest players in the industry, the hosted solution will also enable small to mid-size agencies to have the same capabilities.
The agreement enables LexisNexis Risk Management to provide collections customers with end-to-end solutions that combine data and analytics to improve operational efficiency. The alliance enables Intelligent Results to extend its capabilities to LexisNexis Risk Management's broad customer base across the industry. The hosted solution is scheduled for release before the end of the year, with a jointly developed collection score scheduled for release during the third quarter.
Dane Mauldin, Vice President of Collections Markets for the LexisNexis Risk Management business unit explained, ''Collections agencies are facing increased pressure on their margins and need cost-effective solutions to help them determine how to speed up and optimize their business. LexisNexis has an extensive data repository of intelligence, helping our customers drastically improve contactability and collectability. With Intelligent Results, we can now offer our customers the ability to incorporate analytics linked directly to operational decision making to improve their top and bottom lines.''
Stan Shull, Vice President of Business Development for Intelligent Results added, ''Intelligent Results' mission is to enable companies to make smarter decisions and take action based on those decisions as quickly as possible, by aligning with LexisNexis, we believe we can help change the economics and performance of the collections industry.''
LexisNexis is a comprehensive legal, news and business information and tailored applications. A member of Reed Elsevier Group plc (NYSE:ENL)(NYSE:RUK) (www.reedelsevier.com), the company does business in 100 countries with 13,000 employees worldwide. For more than 30 years, LexisNexis has provided secure data, and information policy. Through its risk management flagship products, Accurint, Banko, and RiskWise, LexisNexis helps to locate people and assets, authenticate identity, enable commerce, conduct background screening, and support national security initiatives. Customers include almost every federal government agency, the top 100 law firms, and Fortune 500 companies in the fields of national security, financial services, collection and recovery, insurance, telecommunications, e-commerce and retail.
Intelligent Results endeavors to enable companies in the financial services industry to run businesses more dynamically with a new standard in customer analytics and decision management. The Intelligent Results Predigy software platform allows companies to better understand and predict customer behavior and then quickly plan and operationalize targeted strategies. This empowers companies to improve the customer experience, allocate resources more effectively and produce profitable results.
Intelligent Results' approach, platform and applications result from 20 years of work that began in the national labs. Intelligent Results was founded by leading thinkers in predictive analytics with real-world experience at forward-thinking companies such as Amazon.com. As the company has grown, it has added executives and staff with extensive financial services experience. Since the launch of the beta version of Predigy, over two dozen new customers and partners have chosen to work with Intelligent Results.
To learn more about Intelligent Results, please visit: www.intelligentresults.com.
To learn more about Lexis/Nexis, please visit: www.lexisnexis.com.
Click here to research hosting.
|
|
|
|
