Author: admin

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aliquam ipsum elit, venenatis eu aliquet nec, varius euismod leo. Suspendisse potenti. Fusce malesuada odio erat, a feugiat magna maximus at. Fusce eget consequat erat. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Nullam eu mi egestas, iaculis lacus nec, aliquam quam. Etiam malesuada tortor in volutpat pellentesque. Duis accumsan, nisl et convallis auctor, ante magna luctus lacus, sit amet sodales lectus sem sed purus. In ac purus placerat, bibendum dui at, varius ligula. Nunc at libero ac neque ultrices mattis sit amet sit amet odio.

The largest global fintech event, Money20/20, is taking place in Amsterdam next month. As the market leader in innovative credit management, the coeo Group will be attending to share what we know!

With a growing list of attendees consisting of different companies and speakers from the financial world, there will be much talk about, including the ins and outs of current trends within the payment sector, innovative developments and, more importantly – a vision for the future.

After months of lockdowns, the coeo Group team is looking forward to (re)connecting “in real life” at Money20/20. Colleagues of the coeo offices from all over Europe will be present in Amsterdam on the 7th, 8th and 9th of June, with their own booth to discuss credit management and the possibilities of debt collection services within the ecosystem – while enjoying a cup of coffee.

It promises to be an inspiring event where ideas are exchanged and new partnerships are created. A place where work is done toward the promising future of fintech and where people and companies challenge each other to continue to innovate.

Will we see you there? coeo can be found at stand number E50.

---

? It’s #podcast time!
Kicking off the #coeogroup podcast series with a bang . In this episode we talk to none other than Jan Hansson, Vice President of Collections at Klarna!

https://soundcloud.com/credit-resource-solutions/coeo-customer-focus-special-podcast-klarna

---

https://www.youtube.com/watch?v=WXXCKOVKmwA&ab_channel=coeo%7CUK

---

Here it is!

On March 17th 2022 we held our annual industry showcase, ‘Shaping the Future of Collections’ with one of the standout sessions, returning for a second instalment and appropriately named: ‘The Big Questions’. 

In this session, we invited four independent industry specialists to the stage to make up our expert panel and offer the room their exclusive insight into some of the toughest questions facing our industry right now.

Invited to the stage were:

Sheraz Afzal (SA) Group Legal, Risk and Compliance Director at the Quint Group

Angela Woolham (AW) Third Party Collections Manager at Verastar 

Tony Gundersen (TG) Head of Operations at ONMO 

Sam Challenger (SC) Head of Collections & Customer Experience at Billing Finance. 

(To find out more about our panellists please see the bottom of this article)

The session was hosted by:

Peter Gent (PG) Sales Director at COEO/CRS

---

---

There’s no client we haven’t been able to work with and onboard yet. It’s something we’re extremely proud of so we’ll say it again, there’s not a single client that we haven’t been able to onboard yet

Throughout the past decade we’ve developed specialist teams whose key responsibility is to onboard clients. As you’d expect, questions we’ve been asked repeatedly are, “how easy is it to get set up with you guys and what’s the process for doing so?”. Simply put, due to our experience, for us it’s quite straight forward.

In this blog post we’re going to briefly walk you through our onboarding process and how we make it as easy as possible for you.

Tried and tested process

First up, we apply a tried and tested process that’s been developed over a decade. So, no matter how mature or immature your systems are, we can get you up and running in a matter of days. Did we mention we’ve been doing this for years! We’ve connected to thousands of different systems, across hundreds of different clients and numerous industry sectors. 

How?

We have expert people, processes and importantly we’ve developed and deployed bespoke systems (such as our API, MiSite and our cases loading system: MyCases) all developed in house by our expert technology team. 

Implementation planning

Over time we’ve learned the key to successful onboarding will always start with careful planning. Here are 6 important steps our implementation meeting will uncover:

1. Key contacts
2. File schedules and reporting 
3. Access to procedures and policies
4. Offshoot processes 
5. Customer communications
6. Here to help

Check out the detail…

Key contacts

Let’s decide who we need to speak to, about what and when. For example, do we have a contact about query management. Who is your data protection officer and who will manage the process from your side?

File schedules and reporting

An important step in the onboarding process is ensuring that there’s a clean and secure transfer of data between our company and yours and it’s well defined. We make this as easy as possible through our templates, or, if you have an existing setup, we can replicate this in a matter of seconds. Data transmission is available through our bespoke API or secure SFTP site. 

Our MI Site has all the reporting you need and much more. We set up an introduction call with your team to talk through the key features. From performance reports, to accounts audit functions, to query and process management, the site is an important tool to keep you informed. 

If this isn’t enough MyReport, our reporting platform, can generate custom dashboards and deliver them to you in whichever format you require. 

Access to procedures and policies

As an FCA authorised collections agency, working across several different industries, it’s important that you have access to our key policies and certificates. We’ll provide you with an ‘onboarding pack’ that includes our key compliance documents. 

Offshoot processes

How do we handle complaints, vulnerable customers etc. in line with your processes? We define them up front. We can work with your internal policies or use our defined procedures to ensure that accounts that need extra care are treated correctly. 

Customer communications

All communications will be designed by our strategy team and shared with you to sign off from a compliance and tone perspective. The content and delivery are designed to be none invasive for the customer and with an emphasis on self-service. This approach is received best by customers and consequently positively impacts collections rates and complaints ratios. Also, reference to default notices and other statutory requirements will be built into the strategy to remind customers of the consequences of non-payment.

Here to help

Our team of specialists are on hand for every step of the process guiding you through a quick and pain free implementation. 

The results

The results are twofold: you get set-up correctly and the process will work seamlessly for both you and your customers. There you have it easy implementation for collections solutions that work.

---

“Mergermarket” interview with CEO Elias Reitter

The coeo Group may be able to make multiple strategic company acquisitions in 2022, adding momentum to its growth trajectory. As CEO Elias Reitter outlined in an interview with the transaction industry information service “Mergermarket”, discussions are already underway with a number of companies under consideration that could suitably complement coeo’s business and regional presence in the US as well as in Europe. However, he also noted that the receivables management specialist, which has been represented in Germany, Austria, the Netherlands, Belgium and the UK to date, is also considering moving into new markets independently in addition to these purchases.

With a current workforce of 500 employees, coeo has already grown rapidly in recent years. Sales totalled around USD 200 million in 2021, equating to annual growth of more than 30% in the last four years and an average annual growth rate (CAGR) of almost 60% compared with 2014. On the one hand, the company’s increases in revenue and high level of profitability are attributable to the use of AI and automation, in order to make collection as customer- and debtor-friendly as possible. On the other hand, coeo is perfectly positioned thanks to its specialisation in receivables in the range of EUR 100 to 500 in e-commerce and in the “buy now, pay later” area – both are enjoying consistent growth and received another boost during the pandemic. According to Reitter, coeo even leads the market in the BNPL segment.

Subscribers can read the full Mergermarket article by logging in here

---

It’ll come as no surprise that the implementation of technology into the collections industry is no longer a nice to have but a necessity. Find out more about how customer portals can help you through our blog post on the topic here.