CollectionLab: Fundamentals

Foundation level understanding of delinquent collection strategies

Course Overview

Course Description

CollectionLab: Fundamentals is a simulation-based training course designed to provide a foundation level understanding of delinquent collections.

CollectionLab: Fundamentals covers best practices for collections management and includes basic principles applied to optimal delinquent collections strategies. With these strategies, participants are able to measure the effectiveness of their collections through various tracking metrics.

Participants will explore technical concepts through a series of lectures, case studies and activities, and then put their skills to the test in a simulation game. In order to win the simulation game, players must successfully operate the most profitable virtual bank with the most satisfied customers. Each team has to demonstrate expertise in each of the key areas of collection management, managing through economic stress and managing to different levels of product volume.

Learning Objectives

DESCRIBE

Describe the stages of delinquency, and for each, consider which best practice collection strategies should be used.

EXPLAIN

Explain the best practices for contacting customers, and how to ‘tilt’ the timing, type, and tone of the contact.

UNDERSTAND

Understand delinquency flow rates, and how to calculate them.

STRATEGY

Appreciate how strategy trees are used for segmented actions for early and late stage collections.

The CollectionLab: Fundamentals Simulation

  • Repetition

    Players repeat strategic decisions in a variety of market conditions, reinforcing learning objectives.

  • Experimentation

    The simulation provides a safe virtual environment for players to test-drive portfolio management strategies.

  • Evaluation

    Players have the opportunity to evaluate and understand the outcome of their portfolio management decisions.

  • Retention

    “Learn by Doing” approach maximizies learning retention.

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