Collection and Recovery Solutions for Consumer Credit
Key Requirements
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Solution provider with customised approach
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Enablement of ‘digital first’ objectives
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Seamless and comprehensive customer journeys
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Operational scalability, security and resilience
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Customer centric approach (e.g. determining cases better suited to debt advice)
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Balanced focus between front-end and back-end activities, including debt prevention
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Regulatory alignment:
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Ensuring compliance with FCA Consumer Duty in all stages of the product cycle
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Aligning with FCA vulnerability guidance
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Improved reporting from suppliers to strengthen risk management with additional layers of data governance and MI
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Access to specialist resources (e.g. financial assessment, income maximisation, debt advice)
Our Approach
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Data analytics to refine treatment paths and priority strategies
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Focus on relief solutions for unique situations (i.e. sensitive customers, low balance debt)
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Flexibility through layered service offering
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‘Digital first’ first-party approach with exception management, hand-offs to lower customer engagement and collections costs
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Seamless switch to third-party (i.e. escalation to DCA)
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Comprehensive digital-first and omni-channel third-party delivery
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Intelligent assessment of customers' financial capacity and customer-centric use for resolution
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Consistent digital and live identification and treatment of vulnerabilities
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Tailored dashboards and MI reporting aligned to key metrics
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Flexible API framework
Consistent Digital-first Omni-channel Capabilities
((1) Being implemented.
Integrated Vulnerability Approach
Meaningful Analytics and Tracked KPIs
Flexibility through Layered Service Offering
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Tailored solutions according to client needs
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Scope to white-label subsets of services
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Ability to serve different industries, customers and requirements
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Flexibility to operate in different parts of the collection process