Research is imperative to digitally transform processes to accelerate effective collections. Today’s debt collection pain points are the broken communication channels between customers and collectors. Poor tools ultimately confuse customers, frustrate debtors and collectors, and make it far less likely that parties can come to agreeable terms. There are tools and processes that can modernise the processes and make the results more profitable and amicable – reducing the number of collection calls and eliminating needless customer complaints.
British household debt increased 11% in the last 3 year period while regulators continue to tighten accepted collection practices. As a result, we see that collectors are having a more difficult time to collect without the adoption of smarter tools and processes. In addition, recent research indicates that optimising debt collection for an increasingly mobile population is no longer an option, but an industry requirement. In the United Kingdom, 45% of households have no landline, while close to 85% have a mobile phone. Another key insight: PEW research reveals that the indebted population segment relies more heavily on mobile devices than higher-income households.
These figures pose a major challenge for debt collection agencies, many of whom are struggling to adapt their processes to help today’s borrowers resolve outstanding account issues.
Gaby Young from Lightico will join Colin White from Credit Connect to explore both the challenges and the solutions in a new webinar taking place on Tuesday 11th February at 11 am. Find out more by registering here to view the webinar
Gaby Young, Director of Marketing Communications, Lightico
The webinar will explore how digital solutions are accelerating consumer debt collections. The webinar presented by Credit Connect and Lightico will explore how consumer debt collections can be optimised for 2020. The webinar will analyse key insights gleaned from 100,000 collection calls and share practical, provenly effective insights on how collectors are using digital solutions to streamline their collection processes, especially in an era where their customers are more mobile and distracted than ever.
The webinar will provide best practice techniques and tools for effective collection calls, as well as tips for agents to make the most out of each customer interaction. Highlights include:
- How technology-based collection tools are empowering debtors to engage in more productive conversations with agents
- How mobile-friendly processes are increasing collection rates, reducing agents’ rework time and boosting customer satisfaction levels
- Tools to enable customers to instantly submit proofs of documentation, income statements, invoices and ID
- How agents can increase contact centre productivity by helping customers complete payment forms and submit all required signatures in one call
- How to make debt collection more mobile-friendly, compliant and secure
Who Should Attend:
- Collections professionals
- Heads of Operations
The webinar takes place on Tuesday 11th February at 11 am GMT. To register for the FREE webinar click here.