Digital – helping customers open up – better engagement

When individuals who have never fallen behind on loan repayments experience their first missed payment, they may feel embarrassed and reluctant to seek help. They might choose to ignore the issue, hoping it resolves itself over time. Consequently, they are less likely to proactively disclose their struggles and ask for assistance. To address this, sending a straightforward email with various available options can be effective. The email should assure borrowers that support is accessible and provide details on the alternatives… Read more

Collections and Recoveries Trends and Benchmarking – 2023

We are updating our survey on Collections and Recoveries Trends and Benchmarking for the end of 2023. This covers all markets and market sectors. Digital DRA is kindly supporting this survey and we have included a copy of the questionnaire below. Information will be anonymised, and aggregated, with a copy of the results distributed to all participants and shared with Digital DRA. If you would like to take part please complete the questionaire below, it should only take a few… Read more

Growing and Changing Vulnerabilities for Customers

The focus has shifted towards addressing vulnerability in light of current circumstances such as rising living costs, energy issues, and inflation. More individuals find themselves in vulnerable situations who may not have previously required assistance. The changing nature of vulnerability means that debt collection agencies are encountering people who have never dealt with debt collection before. Many individuals are struggling due to circumstances beyond their control, which adds to the comp... Access this content for FREE by signing up for… Read more

Digital – it doesn’t mean you don’t speak to customers

The presence of digital channels does not eliminate the need for human interaction in customer service. While self-service digital journeys have their benefits, it is essential to maintain a human touch throughout the customer experience. Offering the option to transfer to a resolution team or engage with an agent through various communication channels like web chat or WhatsApp ensures a seamless customer journey. This approach combines the convenience of digital self-service with the availability of real people to provide assistance… Read more

Different Channels – Different Journey (but) – Same Outcomes

The use of different channels, whether digital or non-digital, does not necessarily lead to different outcomes in terms of customer outcomes. By integrating digital channels like web chat, agents can assist customers in real-time, guiding them through processes and generating personalized links to streamline interactions. This approach allows customers to skip certain steps and increases the success rate of completing payment arrangements. Continuously exploring touchpoints and debt points to e... Access this content for FREE by signing up for ROAR… Read more

Navigating Digital Customer Journeys and Vulnerability – [FULL INTERVIEW]

In this full interview with Daniel Calcott , from Digital DRA, we discuss the evolving landscape of digital approaches and customer engagement within the debt resolution industry. While digital channels have become the norm, Dan emphaises the importance of maintaining a human touch and offering seamless transition to agent assistance. It remains important to identify and support vulnerable customers, with a focus on proactively providing options beyond traditional debt advice. Looking ahead, the industry’s next focus areas include proactive customer… Read more