Goal
Enhance collections performance, accelerate digital transformation that extends beyond customer acquisition, and
personalize customer interactions to reduce costs and boost revenue
Challenges
Lack of Digital Strategy
There was no established digital approach, leading to outdated methods for interacting with customers during collections.
Ineffective Outbound Calls
The Right Party Contact rate was below 3%, making outbound calls inefficient.
Rising Delinquency Rates
Post-COVID, delinquency rates increased, necessitating improved performance and strategies.
How We Made it Happen:
Deploying a Customized Digital Solution
With a comprehensive digital strategy coupled with a 24/7 automated collections platform, customers received personalized support and seamless access to human support when needed
Utilizing Predictive Analytics
Deployed proprietary predictive analytics to assess customers’ propensity to pay, allowing for targeted outreach based on individual financial situations and behaviors, leading to a higher right-party contract rate (RPC).
Fostering Empathetic Communication
Adopting a “Here To Help” mindset, emphasizing empathy and tailored communication, led to exceptional customer satisfaction scores. With automation taking care of routine tasks, agents could focus on what really matters – delivering a superior customer experience.
Tech-in-all to drive revenue and efficiency
Our solution boosted liquidation rates by 24% within 6 months and reduced the delinquency rates. Personalized digital interaction enabled the client to outperform competitors with over 2 years of experience.