Firstsource’s partnership with the world’s largest payment processor began in 2005 and initially focused on improving collections. As the client expanded globally, they turned to Firstsource for further cost reductions, enhanced collections, and a shift to a fully digital model. This collaboration has resulted in significant gains in effciency, cost savings, and customer satisfaction.
Challenges
Enhance collections performance consistently throughout the year, from Day 1 to Day 365.
Accelerate the transition to a digital model capable of handling 30,000 transactions per second.
Adopt an empathy-driven approach, putting the customer at the center with personalized, non-intrusive touchpoints to empower customers in managing their debt.
How We Made it Happen
Empathetic collections
With our “Here to Help” approach, we put the borrower at the heart of the process. Customers were met where they were, with personalized touchpoints that empowered them to take control of their debt. This freed agents to focus on more strategic tasks, leading to stronger customer relationships and better debt recovery outcomes.
White label digital solution
We introduced a digital collections platform, leveraging the client’s role in processing over $1 billion in debit and credit card transactions daily for small businesses and merchant accounts. The automated platform focused on intuitive, self-service, non-intrusive communication, available 24/7, with human support when necessary
Predictive analytics deployment
Utilized proprietary analytics to create a predictive model for assessing customers’ propensity to pay and prioritize outreach, enabling optimized debt recovery.
