Challenge

Our banking client was experiencing a high inflow of live customers who were showing signs of going into financial distress and falling one instalment or more, into arrears.

The bank did not have the resources to deal with the inflow, nor did they want to adopt a “Vanilla” collections approach as these customers were still active. The potential for brand damage was high.

Solution

We developed a rehabilitation type protocol with a dedicated team of agents to get the customers back into a normal payment rhythm while at the same time ensuring they caught up their arrear instalments.

Our solution included a white labelled hotline, secure FTP site to eliminate passing of data, handover files and payment file via email.

Management reports were compiled to analyse the book and yields achieved.

Results

The book was rehabilitated with no brand damage.

We were awarded new work on additional Special Projects

We achieved an average collection/recovery rate of 50-55% arrears on the portfolio versus a target of 45%.

Quality Assurance was 100% aligned to the client, using the same scores and measures to access the quality of calls made.