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What is hyper-personalization? The role of one-to-one personalization through debt recovery

Hyper-personalization is becoming a popular term in the collections and recovery space. It represents an enhanced form of personalization that takes advantage of AI capabilities to provide a seamlessly data-driven and truly humanized collections journey.

Blogs

5 ways to improve your customers’ experience with the debt collections process

Improved collection experiences directly lead to an increased likelihood of resolved debt. Not only are your customers more likely to engage with you again after they become current, but you’ll be better informed to develop personalized solutions through the increase of available data.

Blogs

Operationalizing AI in debt collections

AI provides collections businesses with a range of tools and capabilities to both humanize the process for customers and enhance collection performance for credit issuers.

Blogs

Self-Service: An effective Consumer Duty solution

The UK’s Consumer Duty guidelines has established a standard of customer centricity for financial services. The goal of this humanized approach is more than just compliance, and more to build stronger relationships between businesses and their customers.

Blogs

The importance of customer behavior in designing effective collections journeys

A one-size-fits-all approach to customer engagement is futile. Instead, you need to build an understanding of customer behavior to be able to guide individual accounts to financial health

Blogs

Consumer service: how Consumer Duty changes customer engagement during a collection

The benefit-focused outcomes outlined by the UK’s Consumer Duty sets a precedent for financial firms to provide a consistent and high-quality level of customer service.

Blogs

C&R Software Joins Forces with StepChange: Paving the Way for Empowered Financial Wellbeing

Blogs

The data-driven collections operation: what it is and how to achieve it

Data management in traditional collections processes is time consuming. Teams need to procure information from different sources (specific departments, third parties, storage locations) and then perform manual analysis to inform their engagement with each customer.

Blogs

How technology is changing the mindset of collections

The landscape of collections is evolving. Customers were, until quite recently, considered debtors and fell into one of two categories: can’t pay or won’t pay. The industry has come a long way, and now customer service has become a priority to provide a consistent and beneficial experience.

Blogs

The impact of Consumer Duty regulations on collections and recovery

In this article, we dive into the impact each Consumer Duty requirement has on collections and recovery, and pose solutions to make the standards beneficial to both consumers and businesses alike.

Blogs

What is the Consumer Duty? What does it mean for collections and recovery?

Consumer Duty is a continuation of the FCA’s Treating Customers Fairly (TCF) mandate that protects customers from unfair treatment.

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