Services: Platform, Automation and Analytics
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The increasingly digital consumer -: Implications and strategies for the debt collection industry
The global health crisis has drastically changed consumer behavior. McKinsey data shows that in the wake of the pandemic, consumer adoption of digital catapulted five years in just eight weeks. Consumers are increasingly using digital channels to interact and transact with businesses across industries. The debt collection industry is no
What I talk about when I talk about empathy in collections
There’s a huge amount of stigma around debt. It’s the one big secret you’ll keep from your partner and the one element of your life that you’re most likely to hide from. Imagine how hard it is to talk to a stranger about it, or worse still, the debt company
Working with the 5 elephants of business transformation
Most customer experience (CX) innovation will require business transformation. To help leaders drive transformation success, Firstsource commissioned research with 120 senior executives who’ve led change initiatives. The research identified key issues leaders find difficult to address when leading change. We called these the five elephants of business transformation: The business
How to Succeed at Fintech? Disrupt your own business
With fintech sweeping across financial services and disrupting long-standing business models, one ponders: what makes for successful fintech? Success stories in fintech are rooted in transformative business models. Technology is the enabler, not the inspiration. This guide explores the logic behind a business model approach to fintech and uses debt
$3.6M in BNPL debt recovery using a digital-first approach
The challenge: Resolving debt of BNPL customers while lowering cost to collet The client is a BNPL company serving millions of customers in North America, Europe and Australia that sought to lower its cost of collections or liquidations, primarily through speedy resolution of past due credit balances. Quickly resolving debt
How to stop Medicaid member churn over undeliverable mail
Even in today’s digital-first world, the Department of Human Services (DHS) relies heavily on paper-based mail for public assistance programs such as Medicaid and Food Stamps. States routinely mail pre-populated renewal forms to enrollees who return them to the relevant agency to continue their benefits. Even before the pandemic, a
How to unlock the potential of employees to scale automation with a citizen development model
A Firstsource perspective Years back our journey with automation started with technology interventions and building products when programming and development skills were exclusive to IT personnel. However, times have changed. As the demand for quicker development cycles for automation grows, today’s organizations need to operate at warp speed. We embarked
Digital Intake for Patient Hubs
Are manual data capture processes, non-standard data intake, and human-intensive operating models impeding the speed and agility of your patient hub? Accelerate speed of operations and efficiency for better outcomes with Firstsource Firstsource’s Digital Intake Solution harnesses our experience in processing more than 3 billion pages, 350+ sort types, and 180
A guide to transitioning to a Digital Collections model
It is humane and it works
The impact of patient financial experience on hospital profitability
As rising deductibles and co-pays turn patients into payers, financial interactions must be part of the patient experience equation. The financial aspect of care should not be put aside, as it is an essential component of a positive patient experience. But navigating the healthcare financial maze can create unnecessary confusion
