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Voice and text options for collections and lending

Collections and lending can benefit greatly from voice and text options from CallFire.

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Voice and text options for collections and lending

  1. 1. Voice and text options for collections and lending
  2. 2. Collections/lending in the mobile era • Traditionally, collections carried out via wasteful paper mailers, repetitive and useless phone calls • Easy to avoid, easy to tune out • Landlines/mail boxes are ineffective means of contact for younger clients
  3. 3. Collections goals • Increase client debt recovery rates • Minimize overhead costs (labor, premises, etc.) • Ramp up individual employee efficiency
  4. 4. Modern collections strategies • Voice and text connectivity allows for more targeted, specific campaigns to carried out via mobile devices • Individual clients will respond positively and negatively to different outreach techniques, find what works
  5. 5. Multi-pronged approach • Mobile technology allows for multi-faceted approach to collections – Hosted call center – SMS outreach – Voice broadcast – IVR overlay
  6. 6. Hosted Call Center • Computer weeds out bad numbers, wrong numbers • Computer distributes pre-recorded answering machine message so agents don’t have to • Agents spend phone time connected with live clients rather than waiting through dial tones
  7. 7. Hosted Call Center cont’d • Computer displays crucial client information on screen, updates automatically per client • Agents are able to maintain/update client records in real time as they interact on the phone
  8. 8. SMS outreach • Text messages have the highest ‘open’ rate of any other form of personal communication • Clients disinclined to speak on the phone are more likely to respond to text message prompts
  9. 9. Voice Broadcast • Clients receive a phone call with a pre- recorded message pertaining to their account/payments • Scalable from individual to thousands of simultaneous messages
  10. 10. IVR Overlay • In conjunction with voice broadcast, IVR overlay provides clients an automated method through which to connect and make payments. • Clients are prompted to ‘press 1’ during voice broadcast • Touch tone automatically connects with collections agency automated attendant.

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Collections and lending can benefit greatly from voice and text options from CallFire.

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