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Since lockdown began in the UK, the number of direct debits being cancelled has skyrocketed. Some of our clients have seen cancellations double in the past six weeks and over 1. 6 million mortgage payment holidays have been offered to homeowners impacted by Covid-19.
For organisations that collect regular payments, the dramatic increase in individuals experiencing financial difficulties because of the COVID-19 pandemic has already been felt keenly. In recent weeks, many of our customers have seen a sizable increase in the number of customers cancelling direct debits and requesting payment holidays.
As many call centres experience unparalleled levels of pressure, what can be put in place to minimise the burden and ensure a positive customer experience?
UK energy suppliers, both big and small, are feeling the pressure of increased wholesale prices, price caps, competition and regulation. Since the beginning of 2018, sixteen challenger energy companies have collapsed
In today’s digital world, traditional collections solutions are no longer fit for purpose for local councils and their customers. But, how can local councils adapt and renew to serve the digital customers of tomorrow, whilst meeting regulatory requirements and budget restrictions?
The past few years have seen a shift in attitude within collections, to one of prevention, not cure.
Ahead of this week’s Credit Summit, part of Credit Week, Achim Cremer looks at three of the most pressing trends and issues facing the UK credit and collections industry.
Last month I attended the 11th Annual Utility Week Consumer Debt Conference in Birmingham, United Kingdom. The conference drew 100+ attendees from the UK energy and water sectors to discuss the most pressing issues facing the sectors.
Experiencing financial difficulty can be tough for everyone involved. When a customer slips into arrears a gap is created between projected and actual revenue.