The focus has started to increase digital or non-digital focusing on how customer journeys are designed to support vulnerable customers. One of the key elements, whether through an agent or a digital journey, is personalisation, as customers fall into different circumstances that can be considered vulnerable. So ensuring data is leveraged/captured to identify the customer’s circumstances with the understanding of relevant support for them allows you to build out journeys to facilitate delivering this support.

We should all consider how we use digital to improve our products for better business and outcomes for all.

Communities can, if used correctly, be really valuable; as digital grows, gaining feedback from people using online services and any difficulties they have can be helpful but also, at the same time, supports customers understanding through communities that you are there to support them, based on their circumstances.

If it is affordable for a customer, you can set them up with a smaller payment plan which can be reviewed through self-service or the call centre to increase the plan as their circumstances improve. As you’ve noted, this would also support the creditor from having the account time-barred.

Collections operations and roles of traditional collectors are evolving.  From the digital interactions through to the agent interactions vulnerability is a key piece in areas such as agent training to support these customers or capturing signs / data showing customers who could be vulnerable through digital journeys to enable offering them the right support. 

This is a decision for businesses, but supporting these customers should be across the lifecycle so customer service teams and collections teams alike are aware of how to support people in vulnerable circumstances, it is not just something to consider for one or the other in terms of departments.

The team at TieTa can support collections & recoveries outsourcing from early arrears through to later stage which includes litigation, including partner companies who are specialists in litigation.

As core CRMs or Collections systems are modernising, leveraging data and digital technology this has enabled more insights or personalised agents journeys to be brought through to the agent.  Some of the key areas we have seen this happen is highlighting to an agent key prompts on the customer, such as:

• The customer has been identified as being potentially vulnerable previously or through external data sources, allowing the agent to tailor their conversation to support this customer.
• Identifying a customer who has missed previous arrangements, prompting the agent to get in place an alternative arrangement that is more sustainable for the customer.
• Data being used to personalise the agents journey itself, showing key areas the agent needs to confirm with the customer or take them through reducing QA issues for example with adhering to regulations.
• Digital engagement data showing different activities customers have completed online enabling agents to offer more informed conversations with customers.

Skills based routing has been a topic for a few years in the industry through profiling agents, ensuring the customers are directed to the right person to help them with their account.  This is something that will evolve further and profiling will be key, enabling personalised journeys for agents within collections systems, giving additional prompts to guide them through if an agent is identified as not being very strong in a particular area for example.