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How to be Successful in Digital Debt Collection in 2023

Dates: Tuesday, January 31st at 2pm

Duration: 45mins


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Undoubtedly, the world of debt collections has significantly changed over the last 18-36 months, with many businesses continuing their digital transformation journey.
 

However, not everyone is moving at the same pace. Some debt collection teams have embraced digital debt collection and jumped into the world of digital channels, automation, chatbots, and AI. They have been innovative with their customer engagement strategies and how they manage the nuances of collections conversations and drive operational efficiencies. Others are taking a more measured approach, building upon what they are already doing and applying some digital elements.

But let’s face it, for most, the process of using digital engagement technology is still a little bit disjointed:

  • Where do you start?
  • Where should automation come in?
  • How do agents and chatbots work together?
  • What can AI do?
  • How can it improve ‘my specific’ pain points and deliver business and customer benefits?

The good news is that going digital is not as difficult as you think and can be made easier when there is concrete evidence that it works and you can see what other collections companies are doing.

That is precisely what we are going to address in this session.

In this 45-minutes, we will be looking at a customer success story using live data from a collections company to show how they approached marrying traditional and digital channels to:

  • Introduce Conversational SMS chatbot-driven communications to secure a 56%+ increasein payments
  • Transform the inbound customer call process and reduce call abandonment rates by 70%+
  • Automate friction points in the customer journey and achieve 89% automation
  • Bring payments into live messaging conversations
  • Deal with more debtor queries far more effectively and achieve breaking collection rates from this.

Transform is a big claim to make, but it is apt to describe technology's impact on this collection's operations performance.

We look forward to showing you how it all works and that it is not as complicated as you think.

Join Us On>

  • Thursday, January 26th at 11am or 
  • Tuesday, January 31st at 2pm

 


 
  

 

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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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