$394 Million Collected in last 5 years at 79% of the cost of doing early and mid-stage collections onshore
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The Client
Top 20 US retail bank
Challenge
Enabling multi-million in early stage collections offshore, at a lower cost, than onshore operations without any degradation in quality of service
Solution & Execution
Trainers and leadership team were certified onshore
New hires were subjected to English profiency testing to ensure as close to native communications skills as possible
All new hires were subjected to rigorous training and hires with the slightest defects were given extended training and/or focus before endorsed to go-live scenario.
Based on top collector analysis, collections scripts were modified to have softer toned verbiage to maintain high kept percentages
Proactively chose to evaluate compliance at a higher rate of 6 call per agent per month compared to the industry average 4 per agent per month
Value Delivered
Kept percentage over the last 3 years has averaged at 91% versus the 85% target of the bank
Consistent million dollar collection achieved at 79% of the cost
Annual collections capability of $112 Million
Industry leading compliance of 97% as compared to industry average of 91%
