Firstsource provide innovative Collections and Recovery solutions to global organisations. Our customer centric approach, supported by industry business intelligence, enables us to deliver exceptional results whilst building the brand of the clients with whom we work.
We recognise that the management of collections is often a laborious, costly and resource intensive course for businesses, but efficient and operative management of collections is critical for delivering a positive customer experience. As a global top 20 Collections service provider, Firstsource has the solution.
We have experience partnering with leading global financial institutions, healthcare providers and universities, who rely on us due to our commitment to service excellence and compliance. Our mission is to maximise financial recovery output and deliver great service for our clients’ customers. Our scalable, flexible delivery model offers clients a customised combination of on-shore and off-shore staffing models – which we can adapt to their requirements. Our services include credit cards, bank cards, private label retail cards, automotive loans, personal loans, overdraft accounts, and mortgage collections.
With more than 1,600 collection professionals in five service centres throughout the USA, we also work with eight of the top ten leading US credit card issuers and the UK’s largest financial institution.
We have also provided healthcare collection services for 30+ years, serving a range of healthcare providers including hospitals, physician groups, large national healthcare systems, small rural hospitals, and government facilities. We also have a proven record in collections, default management, prevention services, and recovery solutions to clients in the higher education industry.
Firstsource successfully managed maximizing financial recovery output for a Fortune 500 company and one of America’s top 10 largest banks, all the while ensuring a positive customer experience. The partnership model spanning 16 years with continued investment in performance and quality, has ensured that a culture of compliance, quality and customer experience have been driven and thereby ensuring the best outcomes for both the Client and their customers.
Firstsource has grown rapidly through market share wins based on performance and have been awarded multiple accolades by the Client including ‘Agency of the year award’, ‘Client services award’ and the ‘Service quality award’ to name a few as a direct result of the compliance, quality and customer experience driven culture provided.
Firstsource have generated $65 million annually for this Client through debt recovery services, delivered through stringent data security governance and audit ready processes.
Our client, a leading US bank, required a partner to provide excellent customer service and collections support to customers, with the ability to impact cure rates and charge off rates through performing in cash collected per hour, close rate and securing future arrangements. Firstsource were also required to deliver a FTE production hour model while maintaining flexibility to increase as market demands.
The partnership engagement extended to sharing industry trends, insights and best practices as well as providing a positive customer experience to help customers retain their ability to extend a continual relationship with the bank.
The Client have recognized Firstsource for our internal agility when navigating changes in quality, compliance, contractual changes and KPIs as Firstsource have consistently delivered top ranking performance in the SLAs and KPIs as compared to the internal collections group and the competing vendors. These efforts have resulted in annualized revenues worth $8 million for the Client as well as safeguarding the Client brand.