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Demystifying Automation in Digital Debt Collection

On Demand 
Duration:  45mins

Debt is still a growing issue for many people, with millions having been forced to increase their borrowing to cope with the pandemic. Just about every company faces the challenge of trying to engage with customers about collections and payments, whilst trying to deliver positive customer experiences that are compliant and understanding of customers' personal situations and treating them fairly.   
 
Over the past 12 months, technology, and in particular conversational technology has played a crucial role in enhancing how we interact with customers.  From reducing call waiting times by 85% to reducing agent processing times by 90%, the added value that automation and chatbots deliver across the digital journey is becoming more apparent. 
 
But even with the growing evidence of success, many still don’t understand how automation is working today in debt collections and have valid concerns about how do you handle the range of issues collections conversations cover, vulnerability being an example. 
 
In this webinar, we will focus on showing how and where automation, chatbots, and messaging strategies are delivering success in debt collections. Part of introducing any new technology is to know what’s possible and what best practice looks like; knowing what parts of the customer journey to automate, when to blend agents and chatbots, what processes should be automated, and which ones should not.

100% automation should never be the goal, but rather automation with human touch should be at the heart of any digital debt collection customer engagement strategy.

In 45-minutes, we will look at:

  • Where and why automation is a good fit for debt collections.
  • Simplifying the digital journey and highlighting where automation really adds-value.
  • How blended agent/chatbot engagement works to your advantage.
  • Using live data to improve operational efficiencies and customer experience.
  • How structured and unstructured customer responses are managed with rules and NLU are transforming debt collections.

Key takeaways:

  • An understanding of where automation can fit into your business.
  • The 4 key things you need to do to get started
  • Real success stats from leading UK credit, collections, and payments companies

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METRICS WE’VE ACHIEVED

52%
Uplift in Payment Arrangements
42%
Increase in Agent Productivity
57%
Decrease in Operational Costs
48%
Increase in Customer Engagement

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