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4 actions to help UK consumers get out of mounting debt in 2023
Many UK consumers are in the grips of the cost-of-living crisis. For those carrying debt, there seems to be no way out, and data shows it is taking a significant toll on personal financial and mental health. In 2020 at the pandemic’s height, UK households sharply reduced their expenditures as
How to address CFPB Regulation F compliance: A step-by-step guide
Debt sucks people in like a black hole. The pull to spend more money is strong, the debt spirals, and it’s difficult to break free. Also, it’s hard on everyone — the person who owes the debt, and the person who services the debt. Nobody likes getting a call from
Why merchant experience matters to BNPL growth
It’s a platform world and it’s only getting bigger; thanks to the Buy Now Pay Later (BNPL) boom. With BNPL, consumers can make bite-sized payments for purchases over time, either online or in-store. Think digital layaway. What was once old is new again. With mostly zero interest fees, BNPL is wildly popular
Sensitive collections for a fast-paced world
I love cooking. But I like to do it at my own pace. I don’t get a thrill from the daily prep, serve, eat, wash up, dry up routine that is business as usual in the Mitra kitchen. I prefer the long, drawn-out preparation of weekend and celebratory meals when
Saving a US debt buyer $5M using a global outsourcing model
The challenge: Slash collections costs and create a pathway to profitable growth The client is one of the largest debt buyers in the US and concentrates on investing in consumer charge-off and bankruptcy accounts. The client’s in-house collections staff had swelled to 200 FTEs in the US. It was also
Digital-first customer lifecycle management for BNPL companies
The exponential growth in ‘pay-later’ adoption is forcing BNPL companies to focus on elevating the customer experience to increase customer satisfaction and lifetime value and enhance bottom-line impact. The challenge? Robust omnichannel customer lifecycle management demands seamless orchestration of multiple components – from streamlining processes and deploying the right technologies
Next-gen merchant lifecycle management for BNPL companies
Consumer adoption of Buy Now, Pay Later (BNPL) services is growing exponentially, both among low and high credit consumers. At the same time, merchants are embracing BNPL as they realize its value in increasing cart conversions and attracting new customers. This means BNPL companies must focus on elevating merchant engagement
Helping BNPL companies outperform
Consumer adoption of Buy Now, Pay Later (BNPL) services is growing exponentially, both among low and high credit consumers. BNPL is expected to hit $100 billion in 2021, up from just $24 billion in 2020. At the same time, merchants are embracing BNPL as they realize its value in increasing
PE-owned software company boosts CX while saving $4M in costs
The challenge: Meeting response times for tech and product support The client is a leading US-based and private-equity-backed Enterprise Performance Management (EPM) software and analytics product company serving the healthcare, higher education, and financial sectors. They faced a massive backlog of open and ageing cases for tech and product support.
E-commerce giant onboards 300 merchants in a quarter with a hybrid model
The challenge: Scaling merchant onboarding and engagement A global e-commerce leader was looking to scale merchant onboarding and empower merchants to succeed on their platform — having a strong ecosystem of merchants was critical to their growth strategy. The current process was lengthy and resource-intensive. Since, only a third of
