Pega Collections Video Series: Solution

Frictionless technology is no longer on the wish list. It is a must-have. The collections environment within the financial sector has a history of being ‘early adopter’ and has innovatively utilized technology to enhance the customer experience, drive efficiency, and ultimately improve collections performance through self -service platforms. The strategy is also aimed at playing an important role in easing the pressure within overburdened contact centers.

Transcript:

Frictionless technology is no longer on the wishlist. It's a must have. The collections environment within the financial sector has a history of being early adopter and has innovatively utilized technology to enhance the customer experience, drive efficiency and ultimately improve collections performance through self-service platforms. The strategy is also aimed at playing an important role in easing the pressure within overburdened contact centers. Customers now expect a personalized and seamless delivery of service, including their collections experience. When they are confronted with an impersonal or irrelevant outreach, or an inoperative self-service tool, their patience wears thin. This is when frustrated customers turn back to traditional communication methods, creating an overwhelming volume of customers to serve within contact centers.

However, when managed effectively collections can drive loyalty, protect future revenue, and deliver an exceptional customer experience at the customer's moment of need. When you apply a fully automated, intelligent, channel-less, contact strategy and use AI throughout the collections journey to automate, and assist customers and employees, and direct the best action, you can deliver empathetic strategies ahead of customer delinquencies and offer real debt solutions.

Clients have increased their per employee caseload between 5 and 10% by fully automating early collections and resolving more debts earlier. Pega Collections allows you to deliver tailored, perfectly timed payment plan recommendations, and offers for each customer, using historical and real time customer insight. This means you are able to create analytically based payment plans unique to each customer when it matters most. Pega Collections can help your organization deliver meaningful assistance to customers in need on any channel they choose while optimizing operational costs and performance. Collections teams just like yours have turned to Pega to address the issue head on, and have the results to show for it. Reducing complex processing down from hours to minutes and increasing cash collection rates by upwards of 10%. We're changing the way the largest banks approach and handle collections. Get in touch today to learn more or visit us at www.pega.com/industries/financial-services/collections.