at Commonwealth Bank
Today, collections journeys are often distressing for customers and inefficient for banks
Partnering with Vizolution, Commonwealth Bank can reduce collections journey times to just 20 minutes while increasing customer NPS to 90+
Take a look: see how a debt refinancing journey could look when powered by Vizolution’s platform
Click through the demo below to see how we’ve imagined a digital collections process might look for you. Socius is our demo brand, please type in your name and use the buttons at the bottom right of the demo to proceed.
Please use a desktop to access your click through demo to see how
your digital collections process could look with Vizolution.
Your Collections Process – Agent-Assisted, Self-Serve, or Both
Vizolution’s technology allows you to serve your customers through their channel of choice: enable customers to self-serve at their own convenience, provide agent-assistance guiding customers through the journey, or offer a combination of both.
Replicate the face-to-face customer experience remotely, by providing your contact centre agents and advisors with the tools to visually display content to customers, exchange documents in real time, collect electronic signatures and help customers co-browse your website, all whilst on a live video call or phone call.
Allow your customers to self-serve where possible with a convenient and highly secure digital portal, where they can progress their cases and applications, upload and download required documents, sign agreements and receive automated reminders of updates and outstanding actions.
Santander Transforms Collections with Vizolution
Vizolution helped digitise Santander Brazil’s Automotive Finance Collections journey increasing NPS, reducing costs and remaining compliant.
You too can realise significant KPI improvements. These will include reduced levels of debt write off, increased customer satisfaction at the same time as increased productivity and a reduction in the need for extra FTEs when volume of cases rises.
Key KPI improvements included:
- Increase of NPS to 97
- 100% paperless journey
- 20% increase in conversion rates
- 500% increase in first call resolution
- 14 minutes average journey length
(previously 6 days)
Download the case study and discover how Vizolution helped digitise
Santander Brazil’s Automotive Finance Collections journey.
Why you need to act now?
As the lockdown measures that were put in place to stop the spread of COVID-19 recede, many of the government programmes put in place to support both individuals and businesses are also coming to an end.
The question for lenders is – how can they best prepare themselves for the coming debt tsunami and multitude of customers needing support?
Current debt statistics make for frightening reading and the potential pressure on collections teams is frightening too. Read ‘The debt tsunami is coming’ to find out why acting now is vital.