LaSer Nederland, part of the LaSer Group -the number one proprietary card company in Europe with 10 million customers- has announced it has achieved a significant improvement in the automation of its origination process in the first year of operation of the New Business SM system from Experian, the global information services company. The tools and processes implemented have enabled the issuer to reduce referrals by more than 65% in the initial deployment phase and reduce external data costs with no impact on bad debt.
The New Business SM delivered for LaSer is a multicall decisioning system which is seamlessly embedded into their Consumer Credit and Card services application processing system. The fully automated decisioning tool takes the information from the application form and accesses multiple internal data sources including existing customer data.
An assessment is made to determine whether this data will be sufficient to make a decision, if so, the system does not access the external data sources and incur the associated charges. This smart data retrieval strategy that has the target decrease in data costs by 20%. If external data is required, the system automatically retrieves data from a number of sources including the Experian Credit Bureau.
If a decision is made to accept, LaSer can implement sophisticated risk-based pricing and strategies to offer alternative products in order to achieve the best return and risk management for the portfolio.
Herman Peeters, Head of Risk and Fraud at LaSer Nederland, commented: “The system has enabled LaSer to increase automation significantly while reducing the operational costs of underwriting resources and data retrieval. We are now on target to reduce our referrals almost to zero, giving us a significant reduction in operational costs while maintaining bad debt levels”.
Marco Nobel, Vertical Market Head Netherlands, Experian’s Decision Analytics division, said: “We are proud of this collaboration, which reinforces the fruitful relationship between both organisations in Europe.”
For further information on the press release please contact:
Beatriz Sanjuan, Media Relations Experian Decision Analytics EMEAI
Tel: +34 617 390 451
Email: beatriz.sanjuan@experian.com