Achieving Collections Agility: Supporting Collections Strategy with New Operational Capabilities
"I want to be able to tailor offers, communications and treatments for individual debtors and change them quickly in response to new learnings."
-Head of Collections, Credit Card Portfolio
Despite serious investments in technology and resources, collections organizations continue to be constrained by underlying structural limitations inherent in agent-centric approaches and the siloed collections technologies and organizations that grew to support them. These structural limitations negatively impact operational and financial performance, resulting in:
- Independent siloed messages versus a single customer dialogue
- Lost agent productivity and wasted channel spend
- Time consuming, costly and difficult to maintain integrations that delay new strategy deployment
- Lost opportunity to impact payment rates, roll-rates, charge-offs, and cost to collect
CMC’s FlexCollect® managed service solutions address these challenges and reflect the lessons we’ve learned working with some of the world’s largest lenders. We combine deep collections subject matter expertise and cutting-edge technology to help clients collect more and spend less by:
- Creating a synchronized collections dialogue, individualized to each customer through coordinated offers, treatments and communications
- Increasing payment volume while reducing roll rates and charge-offs
- Right-sizing channel spend through decisioning of collections strategies at the individual customer level
- Deploying a 24 x 7 online presence within the individualized strategy to allow agent-averse debtors to self serve, maximizing agent productivity through tighter coordination of self-serve and agent-based interactions
- Automating loan modification processes and increasing pull through
- Eliminating the CapEx and IT intervention required to deploy new collections strategies
