Collections business transformation opportunity highlighted in webinar

13th February 2020
Consumer Collections

Credit Connect’s first webinar of 2020  saw the theme of business transformation within collections discussed at an event hosted by Credit Connect in association with Lightico.

Collections professionals from banks, motor finance, utility firms, debt collection agencies, fintechs and credit managers were amongst the viewers. Some of the questions asked in the webinar (with answers) can be viewed at the bottom of this article.

Commenting on the event host Colin White Founding Director at Credit Connect said “It was great to see such a great mix of collections professional show an active interest in this webinar. It was also encouraging to see so much interaction from the audience, we hope to continue the technological theme with more webinars planned soon based on the feedback we have received.”

Gaby Young, Marketing & Communications Director from Lightico said “The webinar examined and solves the technology gap between today’s mobile, distracted customers and desk-based collections teams. This gap causes inefficient collections processes. It was great to showcase Lightico’s digital platform, Collections teams can digitally transform their processes and accelerate effective collections.”

The theme of business transformation and collections strategies will be reviewed at the Collections Technology Think Tank which takes place in Leeds on 11th June. Click here for more details.

The date for the next webinar will be announced soon. If you are interested in viewing or becoming a sponsor for the next event. Then call 01622 437014 or email events@credit-connect.co.uk for more information.

A recording of the webinar can be viewed by clicking here.

The slides from the webinar can be downloaded here.

Webinar Questions round-up

What does “self-service” actually mean? That the customer can complete all collections processes without the agent on the phone.

How does your system work with Open Banking to capture and automate I&E?  Lightico supports integrations with all open banking platforms. The API works with a host of other open platforms. Thanks to Open Banking initiatives, financial data can be integrated into Lightico’s sessions and repatriated in other repositories. The benefits of secure and digital integration mean that I&E evidence from one system can be integrated into other workflows – this is particularly relevant when it comes to capturing of income notifications and the like.
How does your combined communication channel system compare with Twillio? Lightico unlocks a secure digital channel where both customers and agents collaborate. Unlike a pure messaging platform, The technology enables real time collaboration between customers and the business to review, complete, markup, decide, sign, pay and more. Like Twillio, Lightico offers workflows and automation, but uniquely, Lightico is able to offer agent guided offerings and robust interactions like co-reviewing documents, creation of dynamic orders, ID verification and document collection.
Can you take payments via Open Banking as a PISP? Yes, Lightico supports integration with all open banking platforms and PISPs
How safe is the system against fraud? Lightico adheres to the toughest regulatory requirements and enables businesses to do the same, easily. We are proud to exceed worldwide industry standards and comply with the following regulations:  ISO 27001, Entrust Datacard, HIPAA, UETA act and PCI DSS and GDPR.

 

Have you got any statistics on the percentage of collections text opened versus ignored/unopened? Lightico’s customers see an average of 98% text open rate for in-call sessions.

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