System and method for supervising account management operations
First Claim
1. A computerized method for tracking accounts managed by an account agent or agents, the method comprising:
- a) receiving a baseline status of an account from an account database;
b) retrieving an updated status of the account from an account database after a predetermined period;
c) comparing the baseline status to the updated status, wherein the comparing operation is performed using a processor;
d) generating an account metric based on the step (c) of comparing the baseline status to the updated status, the account metric including a weighting according to at least a change in level of delinquency of the account, wherein the generating operation is performed using the processor;
wherein the step (d) of generating an account metric comprises a step (e) of multiplying an account balance by the change in level of delinquency of the account;
wherein the change in level of delinquency of the account comprises monthly buckets designating a number of months behind current for the account; and
f) assigning a score to the account agent or agents based on the account metric,wherein the assigning operation is performed using the processor and wherein the score is used to evaluate the account agent or agents.
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Accused Products
Abstract
A technique for tracking and managing account movement using a delinquency movement matrix is described. Customer Service Representatives or other agents may receive a promise for a payment amount for an account, after which the invention may record the baseline delinquency of the account at the time the promise is received, retrieve updated account information after a predetermined time period, and compare the baseline delinquency of the account to the updated delinquency of the account to determine the movement of that account through delinquency stages. The CSR staff may be awarded points based on the number of levels they are able to advance an account, for instance weighted or multiplied by the balance of the account. Other weightings by risk factors or other variables may be used. Because the CSR staff are incentivized to advance accounts to higher levels of currency, the risk of chargeoffs may be reduced and overall portfolio currency increased.
163 Citations
32 Claims
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1. A computerized method for tracking accounts managed by an account agent or agents, the method comprising:
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a) receiving a baseline status of an account from an account database; b) retrieving an updated status of the account from an account database after a predetermined period; c) comparing the baseline status to the updated status, wherein the comparing operation is performed using a processor; d) generating an account metric based on the step (c) of comparing the baseline status to the updated status, the account metric including a weighting according to at least a change in level of delinquency of the account, wherein the generating operation is performed using the processor; wherein the step (d) of generating an account metric comprises a step (e) of multiplying an account balance by the change in level of delinquency of the account; wherein the change in level of delinquency of the account comprises monthly buckets designating a number of months behind current for the account; and f) assigning a score to the account agent or agents based on the account metric, wherein the assigning operation is performed using the processor and wherein the score is used to evaluate the account agent or agents. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 13, 14, 15, 16)
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9. The method in step 8, wherein the aggregate metric is stored in a database.
- 10. The method of step 9, wherein the database is interrogatable to generate reports.
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17. A system for tracking accounts managed by an account agent or agents, the system comprising:
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an interface to a data source transmitting a baseline status of an account and an updated status of the account after a predetermined period; a processor, communicating with the interface, the processor being adapted to; compare the baseline status to the updated status to identify a change in level of delinquency of the account generate an account metric, the account metric including a weighting according to at least the change in level of delinquency of the account; wherein the account metric is generated by multiplying an account balance by the change in level of delinquency of the account; wherein the change in level of delinquency of the account comprises monthly buckets designating a number of months behind current for the account; and assign a score to the account agent or agents based on the account metric, wherein the score is used to evaluate the account agent or agents. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24, 29, 30, 31, 32)
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- 25. The system of step 24, further comprising a database storing the aggregate metric.
Specification