Poland's Ultimo SA Uses FICO AI-Powered Optimization to Advance Ethical Debt Resolution

Rhea-AI Summary

Ultimo SA, a leading debt management company in Poland, has partnered with FICO to implement AI-driven collections treatment optimization. This collaboration aims to enhance ethical debt resolution by identifying the most effective collections strategies for borrowers. Ultimo, part of B2 Holdings, is committed to leveraging FICO's advanced data science to improve service quality. The initiative marks a significant step in addressing debt remediation challenges intensified by the pandemic, ensuring each collections decision maximizes profitability while adhering to regulatory standards.

Positive

• Ultimo SA enhances its collections process by using FICO's AI-driven optimization tools.
• Collaboration aims to improve ethical debt resolution during the pandemic.
• Utilizing advanced data science is expected to lead to better service for borrowers.

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• None.

LONDON, July 19, 2021 /PRNewswire/ -- Ultimo SA, one of the largest debt management companies in Poland and a part of B2 Holdings, will use FICO collections treatment optimization to take the ideal treatment path for each borrower. Using advanced mathematical optimization from FICO, Ultimo will be able to identify the best, most sustainable collections strategy for each borrower, from among dozens or even hundreds of potential options.

More information: https://www.fico.com/en/solutions/collections-optimization 

"Our mission is to help people get out of debt," said Marek Czystołowski, Chief Operating Officer at Ultimo. "We are members of the Association of Financial Companies in Poland, we follow the Association's Principles of Good Debt Collection Practices, and each year we receive the Association's Ethical Audit Certificate. As an ethical debt management agency, we need the best way to serve our financial services partners and their customers, and using FICO's advanced data science will help us do just that. We are complementing Ultimo's market-leading collections expertise with innovative data science."

"Debt remediation is at the forefront of the financial services industry's response to the pandemic," said Jens Dauner, vice president of FICO overseeing the DACH region and Central Europe. "We are proud to support Ultimo's ethical debt resolution with our AI-powered optimization. There has never been a more important time to ensure every collections decision is the best possible decision."

Collections optimization helps organizations of all sizes strike a balance between loss reduction, resource challenges, and operational constraints to help maximize profitability, meet regulatory requirements, and manage customer satisfaction. It can be leveraged across the collections spectrum — from pre-delinquency and early stage collections through later stage and recovery activities. Using collections optimization, lenders and debt collection agencies can easily and confidently choose the best decisions for account placements, settlements, channel selection, and other strategic treatment decisions.

About Ultimo

Ultimo has been in the debt management market since 2002, and is a member of the Association of Financial Companies in Poland (ZPF), an institution guarding high standards of business conduct. Since 2010, Ultimo has been licensed by the Polish Financial Supervision Authority to manage securitised debts. Since August 2014, the firm has been part of the international B2Holding Group, one of the leaders in the European debt management market. https://ultimo.pl/en/for-business-partners 

About FICO

FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 120 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.

Learn more at https://www.fico.com

FICO is a registered trademark of Fair Isaac Corporation in the U.S. and other countries.

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SOURCE FICO

FAQ

What is the significance of Ultimo SA's partnership with FICO?

The partnership allows Ultimo SA to use FICO's AI-driven optimization tools to improve its debt collections strategies, ensuring better outcomes for borrowers.

When was the press release announcing Ultimo SA's use of FICO published?

The press release was published on July 19, 2021.

How will FICO's optimization technology impact Ultimo SA's operations?

FICO's optimization technology will enable Ultimo SA to identify the most effective collections strategies, enhancing its operational efficiency and ethical debt resolution approaches.

What challenges related to debt resolution is Ultimo SA addressing?

Ultimo SA is addressing challenges in debt remediation that have intensified due to the COVID-19 pandemic, focusing on ethical practices in debt collection.

What company does Ultimo SA belong to?

Ultimo SA is part of B2 Holdings, a leading firm in the European debt management market.