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Agility in collections through Covid-19 - benchmark against your industry

Credit Strategy is calling for industry reponses to a survey to enable creditors and collections firms to benchmark their transitions since the lockdown.

In the context of total payment holidays approaching the two-million mark, and other forms of financial assistance being provided for millions of customers, Credit Strategy is seeking to discover how the pandemic has accelerated digital change in collections.


The survey will produce industry-wide aggregated results, for an article in Credit Strategy, on the volumes collections firms are handling, the challenges in managing WFH policies, and how the use of technology in collections may have changed forever.


By completing the survey, and sharing information to help us inform our members, you will be sent a report in Credit Strategy detailing cross-industry results, enabling you to compare and benchmark against the following:
* Inbound call volume trends in collections;
* Speed of transition to WFH policies in collections;
* Speed of implementation in collections of new technology/methods;
* How successful the deployment of new tech/methods has been, and the difference made for customer journeys/outcomes;
* How digital engagement has changed since the lockdown.


Launched in association with Qualco, the survey will ascertain new trends emerging, or existing trends that have been accelerated, across the collections industry as a whole.


It will yield results on any increases in automation through collections, the use of digital engagement channels, the deployment of communications software and diallers among agents working remotely, any changes to supplier oversight, and how fast organisations have been able to make these changes.


Crucially, as FCA and government policy takes an acute focus on the treatment of customers in the collections process, at the same time that mass operational changes have been made, the survey will also decipher if this means budget changes for collections functions.


Will lenders start to see higher budget allocations in collections, to use or upgrade tech to assess income and expenditure? How else will the pandemic act as a catalyst for change in recoveries?


The quick, five-minute survey, which you can complete here, will provide sector-wide answers to these and other pertinent questions.


Responses will be aggregated for an article in Credit Strategy and discussed in a webinar with Qualco, to decipher longer term implications for collections firms.


Those who take part in the survey will also receive a complimentary copy of Qualco’s practical guide: Adapting customer engagement and collections strategies.


All answers are confidential and subject to Credit Strategy’s privacy policy.


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