How to Get Paid First With Customer-Centric Collections Strategies
Putting the customer first has always been a proven strategy for strengthening customer loyalty — and your bottom line. Collections is no exception. When you put your customers first, those customers put you first on their list when prioritizing which debts to repay. And we have the evidence to prove it. Bridgeforce helped a top-ten global bank build a customer care team so successful that the bank’s overall collections customer satisfaction scores increased from 72% to 88%.
Download the Latest Collections Playbook to Help You Get Paid First
Get the industry-leading guide responsible for helping Bridgeforce achieve stellar results for its clients. Use the Bridgeforce Collections Playbook to:
- Tap into an easy-to-use tool to assess where you fall on the customer-centric digital maturity scale.
- Read about the top blind spots to avoid when implementing a customer-focused digital collections program that will foster greater customer loyalty.
- Use a proven call model framework and training techniques to create improved customer satisfaction and successful agent habits.
How Bridgeforce Helped a Top-10 Global Bank Transform Customer Care in Collections
A top-ten global bank sought a different approach to support struggling customers. Recognizing the need to provide support at the human level, the bank sought a better way to manage difficult emotions during customer calls and provide appropriate solutions.
Bridgeforce made it possible for the client to meet an extremely aggressive deadline of six weeks to recruit, hire, train and deploy a new customer care team. Through our empathy-focused training of the entire collections division, the bank achieved a significant customer satisfaction increase from 72% to 88%.
To date, they’ve fielded up to 70k calls, helped thousands of customers with tailored programs and ~80% of those customers continued to make payments. More…
Don’t Wait for a Delinquency Uptick – Prepare Now [Free Insights]
Unlock the Power of Data: The Key to Digital Debt Collection
Looking for an edge in your digital collections strategy? In this blog, we show you how your own customer data can drive (and maximize) success in your digital debt collection. READ
The Complete Guide to Debt Sales in 2023
The challenges of today’s lending environment, along with the slow yet persistent rise of delinquencies, are leading to burgeoning debt sales discussions across the industry. Here’s what to consider when deciding to sell debt. READ
Boost Your Success with a Positive Customer Experience in Collections
Over half of all customers will experience a collections event. So the customer experience you provide is vital to creating customer engagement that results in improved collection rates and ultimately, long term value. READ
Bridgeforce: The Trusted Problem-Solvers for the Collections Industry
Within the past five years alone, our experts have completed more than 75 successful collections projects — leading all aspects of digital vendor selections and implementations for both regional and top 10 banks.
In the past five years we have…
- Designed and developed end-to-end people management strategies (including hiring, agent and management training, incentives/compensation strategies, and performance management) for default management operations.
- Built and implemented custom collections and recovery systems for two top 5 credit card issuers.
- Selected and implemented vendor-based collections and recovery solutions for a top 5 UK lender and a top 5 captive auto lender.
- Designed and implemented a custom workflow-based collections system for a top 10 credit card issuer.
- Created requirements for a super-regional consumer lender to support the build of a system of record conversion for an enterprise transformation in servicing and collections and recovery.
- Developed a QA/QC program and implemented change management initiatives to ensure sustainability for ongoing change to collections agent incentives.