The challenge
Due to the onset of coronavirus and the government requirement to support customers through the pandemic, Aldermore had to grow their mortgage collections team by 400-500% to meet the demand for payment holidays and on-going forbearance support.
The new additions to the team had a varying mixture of mortgage and collections experience, so Aldermore introduced a full training programme on good practices. On reflection of the quality control results, they identified the need to intensify training and oversight. Having working with Arum previously, Aldermore approached us for support in delivering technical collections training focused on uplifting capability to drive good customer outcomes.
The solution
Well versed in the regulatory requirement of Treating Customers Fairly that ensures fair and appropriate outcomes within a mortgage environment, we designed and delivered a Good Outcomes Training package to meet the Aldermore’s specific requirements including these modules:
- Understanding collections and why good outcomes are important
- An overview of TCF in the delegate’s role and the drivers and consequences of vulnerability
- Collections soft skills and the importance of building a good customer relationship
- The collections toolkit and robust assessment of customers’ circumstances
- “Bringing it all together” in the call and positive customer outcomes with scenario testing
We also completed ongoing testing of learnings, and certification of embedding the learning via call listening following delivery of the training.
The results
The delegates gave an average score of 4.6 out of 5 across the various modules. Aldermore observed several key benefits following the training:
- An initial positive movement in the internal quality control oversight
- Significant improvements in quality scores in the following three months, by increasing the intensity of oversight and interventions to enable colleagues to improve their ability to drive good customer outcomes in line with the training
- From our call listening, we witnessed good customer outcomes, particularly in relation to the customers who had ongoing financial issues due to the pandemic, in line with the FCA’s Tailored Support Guidance
- Aldermore’s arrears stabilised following increases in the prior six months
