The Spindown monthly: June
Welcome to the Spindown newsletter!
Your monthly digest for collections insights, takeaways from industry shapers and the latest events.
In this edition:
?? Innovating and diversifying your collections panel: Key takeaways from our latest webinar
Everything you need to know about setting your collections panel up for success, from Justin Parker, Senior Advisor at 2nd Order Solutions .??
From his time leading collections at Upstart, SoFi, Synchrony and Citi, Justin’s experience is second to none.
Here's our top takeaways:
?? Get a deep understanding of your potential partner's experience
Different partners support different needs. To find the right fit for your business, understand the product types, consumer segments and markets that your potential agency is experienced in.
?? Use scorecards to compare performance across all your partners
To really set your collections up for success, measure metrics that are tied back to your organisational goals. Tracking these KPIs across your collections panel will ensure accountability, and drive performance.
??Partner with innovators
The growing demand for personalisation, flexibility and convenience is clear. Work with agencies who demonstrate adaptability to make sure your collections can keep up with shifting customer preferences.
?? How is AI-powered debt collection different from traditional methods?
Traditional debt collection — which relies on teams of agents to recover debt through old-school methods such as phone calls and letters — is increasingly seen as out of touch.
With low engagement rates of 0.5%, consumers and businesses need an alternative.
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??Enter AI-powered debt collection.
It's the next-generation solution that puts the power back into customer’s hands to manage their debt their way, while driving up to 40% higher liquidation.
Advantages of AI-powered debt collection
1?? Personalised collections journey for each customer empowering them to manage their debt, their way.
2?? Omnichannel communication across all digital and voice channels providing a consistent, connected collections experience across all touchpoints.
3?? Unlimited referral capacity enabling your collections to scale with your business, without compromising on customer experience.
4?? Built-in compliance covering all multimarket requirements, protecting your customers and business every step of the way.
?? Global collections: engaging customers in multiple languages
Operating across different regions in multiple languages?
Your collections should do the same.
Collect, our intelligent collections solution provides omnichannel support to customers in their preferred language - including voice with multilingual agents.
With our multilingual collections, one of our consumer lending clients increased liquidation by 59% in one quarter.
More stories we think you'll like:
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