Collections & Recoveries

Business Process Outsourcer (BPO) – Case Study

Business issue

A BPO arrangement to assist Client build a values-led Mortgage Collections operation for its Client, a start-up bank, covering collections systems, operations and procedure build and training material.

green-people

Arum Solutions

  • Designed and implemented best practice process and procedures for new operation, including Debt Manager system capability and controls for launch; transfer of mortgage arrears process flows into procedures; scripting for arrears case handlers based around procedures/training material/regulatory requirements.
  • Devised full module-based, customer-centric training programme for Collections staff and Supervisors, covering Pre-Arrears, Early-Arrears, Late-Arrears and Recoveries.
  • Training included modules on Emotional Quotient (EQ), Treating Customers Fairly (TCF), system navigation, understanding the customer, best practice, essential reporting, regulatory compliance, and an assessment test.

Client benefits (initial)

  • A fully functional collections operation in line with Clients’ and Regulator’s requirements.
  • Policies and procedures enabled organisation to achieve its aim of being customer-centric and values-led.
  • Established and understood the vision for the Collections operation.
  • Provided with emerging strategies and tools.
  • Able to mitigate risk and deliver early benefits.
  • Tailored training platform enabled the Bank to roll-out in full or pick selected modules appropriate to use.
  • Knowledge transfer from Arum to Collections operation to utilise independently.
  • Training provided enabled operation and staff to be ahead of the regulatory game and focus.