Portfolio Recovery Associates selects SAS® for proprietary modeling
CARY, NC (Apr. 06, 2010) – To enhance its proprietary, state-of-the-art process of building predictive portfolio models, Portfolio Recovery Associates Inc. (NASDAQ: PRAA) has selected SAS® Enterprise Miner TM from the leader in business analytics software and services.
“Portfolio modeling is critical for us,” said Patrick Lipsky, Vice President of Analytics for Portfolio Recovery Associates. “Portfolio Recovery Associate’s predictive models help us evaluate potential acquisitions of defaulted consumer receivables as well as collect accounts in our existing portfolios. With SAS Enterprise Miner, we expect to build high-quality, sensitive models faster, improve the use and understanding of our data on distressed debt and, as a result, maximize revenue and collections.”
A longtime SAS customer, Portfolio Recovery Associates purchases and manages portfolios of defaulted and bankrupt consumer receivables and provides accounts receivable management services to lenders, service providers, governments and others.
SAS Enterprise Miner streamlines the data mining process, creating highly accurate, predictive and descriptive models based on analyzing vast amounts of data from across the enterprise. Forward-thinking organizations today use SAS data mining software to detect fraud, minimize credit risk, anticipate resource demands, increase response rates for marketing campaigns and curb customer attrition.
“Success in collections is about making better decisions throughout the business process, from which portfolios to acquire at what price, to optimizing resources in the recovery process,” said David M. Wallace, Global Financial Services Marketing Manager at SAS. “With SAS, Portfolio Recovery Associates will be able to enhance its predictive models and accelerate its success.”
About Portfolio Recovery Associates Inc.
Portfolio Recovery Associates is a full-service provider of outsourced receivables management, payment processing and related services. The Company's primary business is the purchase, collection and management of portfolios of defaulted consumer receivables. These are the unpaid obligations of individuals to credit originators, which include banks, credit unions, consumer and auto finance companies, and retail merchants. Portfolio Recovery Associates also provides a broad range of collection services, including revenue administration for government entities through its RDS and MuniServices businesses, and collateral-location services for credit originators via IGS.
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions delivered within an integrated framework, SAS helps customers at more than 45,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world
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