Delivering exceptional customer outcomes while managing surge and helping client collections team overcome cost of living challenges

Context: 

• An  80% increase in arrears due to the 2022-23 cost of living crisis left the  collections team of a leading UK motor finance company facing significant  challenges in addressing future resource demands and straining their  collections capacity.
• he combination of a tight  recruitment market and the introduction of Consumer Duty regulations created  a complex  environment.

Goal:

• Manage  surges in inbound calls, particularly during peak times, quickly adapt its  approach to maintain service standards, ensure exceptional call quality and  deliver positive customer outcomes, while optimising the recovery of overdue  accounts and preserving customer goodwill.
• Ensure  compliance with new Consumer Duty regulations, ensuring customer protection  standards were met.

How we made it  happen:

Exploring Tech

• Digitally  Led Collections: A self-serve strategy is being considered by  the client to enable customers to manage their accounts via their preferred  channel at a time and place that suits them
• Agent  Assist: The client is assessing Agent Assist to support  frontline service. This AI-powered tool provides real-time prompts,  contextual insights, and workflow automation, helping agents respond more  quickly, accurately, and empathetically.
• QA  Automation: AI-driven quality assurance is under review to  ensure consistent service and compliance. It enables full monitoring of  voice, chat, and email interactions using natural language processing to  assess sentiment, compliance, and agent  performance.

Seamlessly  Integrated

• Integration with  Client Systems: The team worked seamlessly with the client’s  dialler, CRM, and payment platforms, ensuring accurate tracking of activity  and compliance.
• Onshore Collections Team:  A dedicated team of 15 FTEs was established to handle outbound  collections at all delinquency stages and support inbound call surges during  peak.
• Collaboration with Specialist Teams:  We integrated with the client’s specialist teams to address  complex cases and enhance customer  support.

Personalised  Powerhouse

• Tailored Collections  Strategy: A new strategy was developed and implemented to  improve the customer journey, integrating digital channels to boost  performance
• Empathetic Customer Engagement:  Agents focused on oering tailored payment solutions based  on individual customer  circumstances.
• Comprehensive Training  Programme: Two weeks of induction training followed by three  weeks of grad bay with joint oversight with client before agents move to full  production.
• Dual-Site Expertise  Optimisation: Engaged dual-site teams to leverage specialist  expertise and optimise performance across  locations.

‍