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Beth Yelland - Westpac Group - Hardship Management - Hardship management: the Westpac journey

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Beth Yelland delivered the presentation at the 2014 Collections and Hardship Programs in Utilities, Banks and Telecommunications Conference. …

Beth Yelland delivered the presentation at the 2014 Collections and Hardship Programs in Utilities, Banks and Telecommunications Conference.

The 2014 Collections and Hardship Programs in Utilities, Banks and Telecommunications Conference explored ways to manage the complex issues with recovering debt in utilities, telecommunications and financial sectors.

For more information about the event, please visit: http://www.informa.com.au/hardshiputilities 14

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  • 1. Westpac Banking Corporation ABN 33 007 457 141. Beth Yelland June 2014 Hardship Management The Westpac Journey
  • 2. Collections Overview| February 2014 2 Westpac’s Evolution of Hardship Management • Cottage Industry 1996 • ‘Assist’2008 • $$$$$2010 Compliance2013 Our FY14 - FY15 Focus Getting The Balance Right • Community Sector • Industry Forums • Learn, Share, Deliver • Easy To Do Business With • Right Solutions • Get the Balance Right • Meet Requirements • System Controls • No Surprises
  • 3. Collections Overview| February 2014 3 Making Hardship Sustainable Westpac Group Assist Yearly Averages 170,000 Calls 43,000 Applications 90% Approval Rate Keys to Sustainability 1. People & Attitude 2. Compliance & Transparency 3. Customer & Community 4. Innovate & Evolve- Get the balance right!
  • 4. Collections Overview| February 2014 4 The Impact Of Getting It Wrong Disengaged Media Threat Threat Of Harm The Change Curve: Until we feel a compelling reason to change, we tend not to act. We might think about changing, but lasting change rarely happens unless the need for change is clear and strong. Formal Complaint Argumentative Customer Leaves
  • 5. Presentation Title | March 2012 I AM Complaints Compliments Innovative solutions first Reduce Waste More Dollars collected Advocacy & Retention The Benefits Of Getting It Right