debt management

Debt management

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case study

A UK bank had a large number of customers with an outstanding debt on their account – they were not responding to letters or calls from agents. The result was a huge operational cost that resulted in debt being written off or unnecessarily being passed to a debt collection agency.

 

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Mobile banking

debt management

We understand that in today’s economic climate, where the potential to generate profit from your customers is limited, the protection of existing revenue streams is paramount. Operations that rely heavily on contact centres and paper correspondence have high operational costs that could be greatly reduced by using mobile communication.

A significant proportion of debtors are able and willing to pay but forget, do not find the time or are too embarrassed to talk about their financial difficulties with an agent. It is counterproductive chasing this kind of debtor. Through our partnerships with leading organisations, such as FICO, we have incorporated industry leading and proven collection strategies into a fully automated process. This allows you to improve your collections productivity by maximising contact rates and freeing your agent resource.

Key Benefits

* Reduced call centre traffic
* Improved agent efficiencies
* Reduction in paper correspondence
* Increased right party contact
* Improved Contact Rates
* Improved contact rates
* Increased collection rates
* Reduced roll rates (65% from bucket 1 to 2)
* Reduction in credit risk
* Reduced debt write off by around 14%

Telrock has provided solutions and consultancy on a global level – transforming inefficient processes through the implementation of both full and partial mobile strategies.

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To see a case study on one of our debt management clients please click here