With growing understanding that future market share will be as much won on customer experience as on product and price, customer-first collections are not only socially responsible but will be critical to building customer loyalty and reducing churn. This article looks at what constitutes customer-first collections and why more businesses should be using this approach…
These are very strange times for those in the business of consumer debt collection. Despite significant moves forward by the industry towards a more customer centric approach, it is not uncommon for any debt resolution activity to be met by consumers with either blind panic and fear or aggressive dismissal. The industry needs to address…
Outlined in this document are the key challenges facing businesses in 2022 and the credit and collections industry trends we believe will be seen as businesses position themselves to overcome them. UK Debt Collection Industry Report: Key Trends for 2022 Contents About Us Author About Barratt Smith Brown Introduction Challenging Economic Landscape Short to medium…
The FCA Finalised Guidance For Firm On The Fair Treatment of Vulnerable Customers identifies three areas which are essential for firms to consider when building a vulnerable strategy as outlined in the below diagram. For businesses which are just starting out building their customer vulnerability strategy, we have broken these down further in to 7…
