BNP Paribas Personal Finance Financially fragile loan holder prevention program CUSTOMERS IN DIFFICULTY: QUICKER IDENTIFICATION MEANS BETTER SUPPORT Brussels, December 12th 2014
Why BNPP PF has developed a system to detect vulnerability? no tool can at the time of the granting assessment of a credit to predict an accident of the life In a time of financial crisis, unforeseen expenditure can become increasingly difficult to cope with the plans to support vulnerable customers are not sufficient Social organizations continue to point the finger at loopholes in over-indebtedness prevention policy At Cetelem, we are able to identify vulnerable Customers before their financial difficulties become insurmountable. 2
How BNPP PF has developed a system to detect vulnerability A program to anticipate loan holders budget problems before the degradation of their financial situations become too important 3
What Makes Our Program Special Its Preventive nature An early-stage detection system : we are able to identify vulnerable customers before their financial difficulties become insurmountable The development of a proactive scoring system Its dedicated team of budget Two different ways of detecting vulnerable customers : An algorithm identifies the likelihood of a customer missing a repayment within the next three to six months. The interactive voice server or IVS. Provided to all Cetelem customers, this phone number routes calls from those potentially facing financial problems directly to the CID team Better listening means better advice :. Customers In Difficulty are helped and supported by a dedicated team, whose members analyse their situation to confirm whether or not they are financially vulnerable and to offer personalised solutions where needed. 4
Description of the program Identification Diagnostic Assistance Exit to establish a diagnosis of the situation of the customers in order to identify and to describe vulnerability To make the offer most adapted with the situation customers identified To monitor the stabilization of the situation customers To gradually reinstate the customers in the normal processing Solutions offered by PF in wich 10% transferred to Cresus Customer refusal 5
the causes of financial vulnerability The causes of financial vulnerability of customers are numerous and of very different nature 6
Conditions of success A transversal project based on responsibility Nearly 2 years of lab tests A strong cooperation with stakeholders and a partnership with a French association dedicated to overindebtedness prevention and assistance 7