In case you missed our recent webinar in partnership with the CSA,” Changes in Collections – The New Demographic”, on Thursday, 23 Feb 2023, you can check out the discussions we had on the day below.
The #costoflivingcrisis, including high #inflation, rising #interestrates and increasing #energycosts, is pushing many people into #arrears for the first time. These people never thought they would be in these circumstances; many are unprepared and do not know how #collections work.
With more individuals falling behind, we need to rethink debt collection models to truly support our customers.
Joined by a panel of experts, including
1)Vanessa Northam, Head of Charity Development at StepChange Debt Charity,
2) Deven Ghelani, Director at Policy in Practice,
and
3) Gareth Bailey, CEO at DebtStream
The panel discussed the current landscape and approaches needed in collections under the guidance of our host, Nick Georgiades, Strategic Advisor.
Check out our speakers from the ‘Changes in Collections – The New Demographic’ below.
Please get in touch if there is anything discussed by the speakers you want to explore further. If you want to find out more about our products and how best we can help you, request a demo or check out the resources below:
We received some interesting questions from you all during the session, so here is a list of the Q&A that you might find helpful
Consumer Need!
Innovations to reduce costs are simply efficiencies
Innovations that satisfy an unmet consumer need is much harder, it’s the basis of entrepreneurship and disruption – (though it will grow much faster if it can also reduce costs).
We have all been impacted by this. We helped our people recognise the impact their work was having on the people benefiting from income maximisation; Policy in Practice estimates that our better off calculator helps realise £790m through income maximisation and LIFT by a further £150m often to those that wouldn’t know who to turn to for support.
We think it does exactly that – it buys people some breathing space, but it doesn’t get to the root of their issues. This is most evident for people in a negative budget situation. It buys time to carry out e.g. income maximisation or take other support steps, but if they are already accessing all of the support they can it doesn’t do enough.
On Episode 11 of our Unwrapped series Martin O’Donnell caught up with AJ Davison from Acquired.com.
Focussing on the power of payments in improving the customer experience within collections, and touching on AI including Apple Intelligence.
On Episode 10 of our Unwrapped series Martin O’Donnell caught up with AJ Davison and George Boot from Acquired.com for a joint Podcast.
Over the last year, DebtStream and Acquired.com have formed a strong innovative partnership that continues to grow!
DebtStream and TCN are delighted to announce their new partnership, set to transform the contact centre experiences for collections operations. The partnership aims to elevates both agent and customer experiences through enabling businesses across call centre technology, through to customer self-service.
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