Outdated identities are the hidden cause of untapped revenue in government collections. Start collecting debt that is owed to your agency.
LexisNexis®—a leader in debt recovery solutions—offers a comprehensive suite of tools that address all phases of the collections cycle.
LexisNexis understands that government collections personnel are faced with a mighty task—to collect as much as possible of the unpaid debts that are owed. What makes this task so difficult is the fact that debtors’ circumstances and identities are not static—they are constantly changing. To make matters more challenging, a substantial percentage of debtor records are unverified and inaccurate upon origination.
When identities change in real life, the changes are not reflected in your static debtor records, and a gap between you and the debtor is created.
If static data is the problem, dynamic identity analytics is the solution. LexisNexis monitors and constantly updates hundreds of millions of unique identity records. Advanced linking technology creates and maintains a dynamic history around each identity. As an individual’s identity information evolves over time, so does the LexisNexis identity associated with that individual—in practically real-time.
Debt collection remains a critical revenue source for government agencies. Through several tests with its customers, LexisNexis has found about 70% of old debt is not collectable due to inaccurate identity information. With LexisNexis® Revenue Recovery Solution, including Identity Contact Resolution, agencies can verify and resolve identities, locate and contact debtors, and continuously monitor for updates to critical account information—so you can stop searching and start collecting.