Date:
July 08, 2010. SAN FRANCISCO & LONDON--(BUSINESS WIRE)--UK home shopping giant Freemans Grattan Holdings (FGH) is predicting an up to 33% reduction in customer debt thanks to next generation customer lifecycle analytics from KXEN.
"It also means that our long-standing customers who have built up a level of trust with our brands are being treated fairly."
FGH - UK arm of Otto Group, the world's largest mail order group and the second largest retailer on the Internet - has deployed KXEN analytics in its credit risk team after three years of using the solution in marketing. Now, with bad debt propensity scoring that relies on internal customer data as well as third party information, FGH is set to reduce customer debt by as much as one third according to predictions.
"We'd used KXEN successfully in marketing for three years and saw no reason to consider a different solution for credit risk modeling," says FGH head of customer management Andy Bryan. "The target was to improve our ability to predict which customers would default. The new KXEN scorecard has significantly improved our authorization process and retrospective analysis suggests we can cut debt by as much as 33% with only a 3% lower acceptance rate for credit."
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