Having an alert advising something is broken without people and processes in place to react and properly manage the issue behind the alert – is worthless. Telrock have invested significant time and effort into the design and implementation of its tools and processes around Monitoring.
The industry agreement date for implementation (see 1.16 of CP17/10) for Promotion Expiry is April 2018, and Close to Credit limit prompt is July 2018. However for Promotional Rate expiry the FCA expects an interim implementation rate of 95% by January 2018.
First a staggering 88% of all people who login to the portal make a payment plan or attempt to make some sort of payment! I think this shows the usability and intuitiveness of the portal but also speaks to people’s propensity to use online methods to repay. Personally, this comes as no great surprise to me as we live more and more of our lives online from banking to hotel booking, from gaming to dating. There is also the anonymity factor – it’s much less intrusive to deal with an arrears issue by logging into a portal compared with having to speak to someone over the phone
We believed if it was quick and easy, people would be more likely to pay their bills.