How has the pandemic accelerated digital change in collections?

After the fastest operational changes the credit industry has ever seen, Credit Strategy's survey will establish how collections organisations have transitioned since the lockdown.

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.

Everyone who completes the survey gets a complimentary three-month Premium membership, giving you access to the entire Credit Strategy website, with exclusive content such as Best Practice Case Studies based on award-winning entries, webinars, data and benchmarking tools, opinion and CS interviews.

Note: Individual answers provided are subject to the same non-disclosure terms & conditions that apply to all Credit Strategy’s awards entries. These guarantee individual results will not be published anywhere on Credit Strategy’s website, magazine or social media channels. Only aggregated results are published to show trends.

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


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1. How are in-bound call volumes trending in your collections/financial assistance function, during the past month, compared to the previous month?

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2. When your organisation transitioned to accommodate working from home policies in collections & recoveries/financial assistance, please name up to three challenges which were the most difficult to resolve:

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3. Did you make any changes to any of the following functions? (ie deploying new software, upgrades to existing tech, revamping existing methods, or using new methods from existing tech). Please tick:

  Deployed new software Upgraded existing tech Revamped existing methods New methods from existing tech N/A
Open Banking technology
Collections/case management software
Automation
DCA panel management technology
Payment technology
CRA data/product
Call centre/dialler
Digital comms channels with customers
Compliance/risk tech
N/A (skip to question 6)

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4. How quickly were you able to make those changes, please refer to any days/weeks taken, or if it’s ongoing (referring to weeks in motion so far)

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5. Please name any elements involved in this transition you needed/preferred to have taken place faster (or state N/A if it doesn't apply):

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6. Are you now using any new analytics tools, or methods, to assess the impact of Covid-19 on your consumer credit/consumer lending portfolios?

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7. How successful has this new method/tool been? Please give a score out of 10 and refer briefly to any new tool or method used:

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8. Please state up to three ways in which digital engagement with your customers in the collections process has changed, since the national lockdown took effect in March?

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9. Due to the scale of financial assistance required for customers, and volumes likely to fall into collections, does this mean a higher budget allocation for your collections function? Please tick:

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10. If you will be allocated more budget, how is this likely to be deployed? Please tick:

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11. Please provide the following information:

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12. Aggregated data collected from this survey will be shared between the survey owners, Credit Strategy and Qualco, for the purpose of an article to portray industry trends and later, a webinar to discuss sector-wide results. Please click Yes here for consent for your answers to be shared (individual answers will not be published anywhere, and are subject to the same non-disclosure Ts&Cs as our award entries).

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