Collections & Recoveries

Economic Challenges International Bank – Case Study

Business issue

With the increasing incidence of mortgage payment defaults (which represented a new challenge) and the need to work more closely with a larger number of customers facing financial difficulties, this international bank recognised the importance of recruiting a seasoned professional with experience working in various economic cycles and, in particular, working in consumer collections during difficult periods.

business-stethoscope

Arum Solutions

  • Arum subject matter expert deployed as Interim Head of Group Consumer Collections Operations, responsible for operations across multiple jurisdictions.
  • Over a 11-month period established a viable Collections operation, creating a new cross jurisdiction operational structure, processes, systems and team.
  • Workflow tool, prioritisation and segmentation, call recording, productivity measurements, Collections Management Information, Collector incentive scheme.
  • Emotional Quotient (EQ) training.

Client benefits (initial)

  • Tangible increase in productivity.
  • Residential Mortgages > 30 days delinquency levels stable, despite significant continuing challenges in the economy and the impact on customers.
  • Increased quality in Collections calls.
  • Trained and passed Arum IP onto internal candidate identified for Collections Manager role.
  • More focused Collections goals and objectives.
  • Trained and passed Arum IP onto internal candidate identified for Collections Head role.
  • Staff development creating  a professional Collections team.