The client is Canada’s largest consumer finance retailer operating hundreds of stores across the country offering a wide range of financial services for their customers.
Optimizing collections process will see limited improvement with industry best practices such as multiple sales training and leveraging omnichannel technology to mass spam customers in order to maintain performance edge.
The client had a process of calling every customer before the loan due date. This meant calling the customers who had a record of paying off their debt on time. This naturally annoyed most of the customers, and affected the performance of the representatives as well as company revenue. To avoid the angst of customers, the Customer Service Representatives weren’t calling up at all, and just marking the customers as called. The entire process needed a new solution.