The past few years have been a real test for everyone, and the collections industry is no different. We’ve had to navigate the challenges of the pandemic and lock down, the fall-out of trying to return to life as normal with disrupted supply lines, uncertainty surrounding Brexit, and the war in Ukraine amplifying the cost-of-living […]

Like many in our industry, the back end of 2022 saw a focus towards the implementation of FCA’s Consumer Duty regime. For us to best meet the significant changes introduced by the new regime, for both our clients and their customers, we have been proactive in preparing a plan, had it signed off by the board […]

Business should be about selling the amazing products and services your company produces, not about chasing outstanding debt. Chasing debt can often become onerous, unproductive and costly, and if your business doesn’t have capacity or specialised expertise and exhausted it’s traditional methods of recovery it might be time to consider a debt collection agency (DCA). […]

In Collections, the goal of a client portal is to make a client’s life easier. It offers a single and easily accessible point of contact that keeps clients informed and in control. The days have now gone where every aspect of account reporting was discussed between a DCA and client over several hours and even […]

It‘s impossible to ignore the impact of technology on our lives and nowhere is it more evident than in our professional worlds. Business sectors have been one of the main benefactors of technology and innovation, with advancements helping companies target and interact with customers in real-time anywhere in the world through mobile devices, laptops and […]

There’s a widespread misconception that DCAs use aggressive techniques to collect debt.  This couldn’t be further from the truth, in fact, in this day and age compliance is a key driver in running a successful Debt Collection Agency. In the UK, compliance in the financial services sector is a set of rules and regulations put in place […]

Continuing with our Technology in Debt Collection series, one of the most successful digital touch points (or tools) in the digital customer journey  In debt collection we’ve discovered has been our customer portal, myCRS. With digital adoption accelerated by the pandemic throughout all demographics, the implementation of technology into the Debt Collections industry is no longer a […]

The time of the ‘Skynet’ prophecy and the robot takeover might be upon us… well chatbots for starters but don’t worry we won’t “need your clothes, your boots or your motorcycle”.We’ll apologise in advance for the Terminator references as we explore artificial intelligence and in particular Bots or Chatbots in our Technology in Debt Collection […]

A few years ago when artificial intelligence and chatbots were introduced to the debt collection industry there were concerns it signalled the death of email, but email is the great survivor of the digital age. Instead of butting heads with this smart communications tool it did the ‘smart’ thing, deciding to embrace the bot to […]

Understanding the multitude of ‘moving parts’ involved in the collections process is not an easy job and often we hear our industry partners talking about their frustrations with staying abreast of the endless challenges. The constant need to take into account things like customer trends, evolving customer journey, preferred communications channels and state of mind […]