We explore the power of technology in collections from a podcast conversation between Christina Fisher (Manager, Growth Marketing) of C&R Software and Emma Reynolds (UK Account Manager) of TCN.
We outline the strategic approach you should adopt once you’ve identified at-risk customers to support them and potentially avoid delinquency altogether.
The relationship between originations and collections in the credit lifecycle is crucial yet often overlooked.
Technological advancements are reshaping the landscape of credit risk management and collections.
C&R Software’s advanced systems and integrations provide a range of tools to identify, support and clear vulnerable customers in a customer-centric fashion.
AI offers unprecedented insights into new customers entering delinquency, providing the tools to proactively predict, react and manage accounts in a personalized way.
Financial institutions are increasingly shifting towards customer-centric collections that leverage data-driven insights to tailer personalized experiences
Detecting vulnerable customers early is not only key to avoiding payments being missed, but to support your customers around the challenges they’re facing.
You need to understand and identify your vulnerable customers so that you can tailor collections strategies that result in financial stability.
Sludge practices are an outdated collections tactic that can end up damaging your customer relationships and brand loyalty. But filtering out these tactics can be a challenge, especially if you’re using legacy systems.
Building relationships with your customers is a long-term commitment. You need to be positive and supportive from beginning to end of their collections journey, with no inconsistencies.
We’ll be adding thought-provoking content and insights on a regular basis. Let’s stay in touch!