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Capquest Partners with FICO and Latitude Software

October 08, 2013

Capquest, a firm that helps customers mitigate debt, announced that it is forming a partnership with two different software providers in order to better its ability to work with its large troves of data.

It has had its eyes on software providers Latitude Software, a debt collection software company, and FICO, a provider of predictive analytics and decision-making solutions which include credit scoring. Both companies fit Capquest's strategic interests like a glove, making sure that the financial organization runs efficiently.

“The new software platforms will enable us to treat our customers as individuals and in the most cost effective way possible. The software will allow us to learn and understand our customer's needs, rather than limiting us to create a one-size-fits-all solution,” said Helen Ashton, CEO of Capquest. “Every customer's situation is different and it is therefore imperative that we have the ability to understand their needs, so we can work with them to find the most effective solution.”

Latitude Software is an Interactive Intelligence company that creates software solutions catering to first party creditors, collection agencies, and debt purchasers that streamline the process of collecting debt. Its solutions operate either on-premises or on the cloud, offering a significant amount of flexibility for each customer's needs and giving them an edge that allows them, in turn, to offer more competitive packages to their end customers. The provider’s MO is mainly ensuring that companies can collect debt and recover their portfolios more efficiently.

FICO's software will help Capquest manage its data by providing a top-down view of all its customer portfolios, allowing Capquest to make more informed decisions in the process of interacting with clients.

“They will be able to tailor every customer treatment, rapidly deploy leading collections analytics, and continually refine their collections strategies,” said Hayley Kershaw, general manager for FICO in Europe, the Middle East and Africa. “This is what the future of collections looks like.”

Edited by Alisen Downey