Can Debt Recovery be more exciting?

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How to build a successful, digital, customer-focused debt collections channel

For too long, debt collections has been characterised as harsh and stressful for both debt collector and debtor. Among consumers particularly, the debt recovery process is often viewed with suspicion and an almost reflexive hostility.

This consumer attitude isn’t hard to understand. While other areas of banking have adopted beautifully designed, user friendly apps which put the customer in control, debt collection channels are anachronistic by comparison. The process remains riddled with bureaucracy, making it difficult for people in debt to organise payments on their terms.

Framing debt recovery’s problems as a customer service challenge might strike you as a little strange at first. Why should you be concerned with the customer experience of debt collection? That would seem like a superficial preoccupation in this challenging business climate.

But client focus in debt collection isn’t just a nice-to-have; it’s a central component in successfully recouping delinquent debts.

The good news is there’s a better, more modern way. A world where clients emerge happy, staff aren’t overwhelmed and, most importantly, where debts are paid quickly and easily. Not in the distant future, right now.