Portfolio Recovery Associates Picks Model Provider
CARY, N.C. — Portfolio Recovery Associates, a purchaser and manager of defaulted and bankrupt consumer receivable portfolios for lenders, recently made its choice for a vendor to build predictive portfolio models. Company executives decided to go with the SAS Enterprise Miner for these services.
"Portfolio modeling is critical for us," explained Patrick Lipsky, vice president of analytics for Portfolio Recovery Associates.
"Portfolio Recovery Associates' predictive models help us evaluate potential acquisitions of defaulted consumer receivables as well as collect accounts in our existing portfolios," Lipsky continued.
"With SAS Enterprise Miner, we expect to build high-quality, sensitive models faster, improve the use and understanding of our data on distressed debt and, as a result, maximize revenue and collections," he added.
Portfolio Recovery Associates is looking for the SAS Enterprise Miner to streamline the data mining process. Executives believe the solution can create highly accurate, predictive and descriptive models based on analyzing vast amounts of data.
"Success in collections is about making better decisions throughout the business process, from which portfolios to acquire at what price, to optimizing resources in the recovery process," noted David Wallace, global financial services marketing manager at SAS.
"With SAS, Portfolio Recovery Associates will be able to enhance its predictive models and accelerate its success," Wallace concluded.