Southeast Europe bank improves contact rates and decreases service cost per customer using EXUS Collections Self Service

The problem

  • Difficulty to reach customers during working hours.
  • Strict regulatory restrictions were applied in terms of how often the debtor can be contacted.
  • When customers were contacted, collections agents found it difficult to propose on the phone complex repayment schemes and many alternative options for debt restructuring.
  • Some debtors felt uncomfortable having such discussions with the bank’s agents on the phone.

The Solution

  • Bank deployed new EXUS Financial Suite (EFS) product : EXUS Collections Self Service.
  • Bank offered a 24*7 online service to debtors for settling their debts, with all settlement/restructuring options available for reviewing without the “pressure” of an agent.
  • Debtors get detailed information per offering and select the most appropriate for them.
  • Debtors may also provide qualitative data (i.e. reasons for the inability to pay).

The Results

  • Decrease in the number of customers that cannot be reached.
  • Decrease in the cost of service per customer.
  • Increase in acceptance rate of settlements options.

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