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Financial Services Industry Solutions

Contact Center

Debt Collections & Litigation

  • Voice and data specialists supporting your third party collection efforts.
  • Asset research team for litigation investigation
Debt Collection

Workforce Management

  • Removes guesswork from contact center planing
  • Personal data management
  • Schedule development
  • Contract and collector forecasting
  • Shift optimization
Debt Collection

ACD/IVR Dialing Technology

  • Automatic Call Distribution technology for rules-based call routing
  • Integrated Voice Response functionality allows intelligent routing
Debt Collection

Inbound Customer Service

  • Employ key customer service agents
  • Scalable capacity planning
Debt Collection

Data Breach Assistance

  • Scalable contact center based on requirement
  • Communication capabilities in 100 languages
Debt Collection

First Party Extended Client Team

  • Acts as extension of our client's business

Case Study – Financial Services

Reducing Cost & Improving Returns

Challenges

  • In 1998, a large financial services company was looking for a third party collection agency to assist them in recovering auto deficiency account receivables.
  • With a monthly charge off averaging over 28mm with 6 month recovery averages hovering around .35%, their goal was to improve this to above 50%.

Solution

  • We had in-depth management expertise on staff with previous auto deficiency collections experience. Using this knowledge and experience, we recruited, hired and trained a team to meet the client's goal
  • Utilizing a score-based, customer lettering and segmentation strategy along with specific agent dialect assignments designed for auto deficiencies, we were able to cater to the client's needs
  • Within 6 months of onboarding the accounts, we were averaging $9mm in monthly placements and a six month recovery rate at .57%
  • With on-going daily/weekly/monthly strategy reviews and performance tracking, we consistently exceeded client expectations while, month over month, continuing to raise the bar with record-breaking recovery results

Benefits

  • Developed a 16 year relationship
  • Consistent "best in class" performance
  • Raised the performance standard causing the other agencies to invest, rework their strategies and meet the revised delivery expectations of the client
  • Improved revenue for the client while reducing their risk
  • Expanded into other streams of business
  • Sharing key performance indicators and enrichment procedures to assist competitors with improving their levels of recovery
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