Written by BPS | Jul 21, 2023 1:22:34 PM
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%