Balancing customer outcomes with commercial risks
Firms must ensure they are well equipped to deal with customers, especially those in arrears, who are experiencing financial distress. Huntswood is here to give you confidence in your arrears handling and collections processes, ensuring that they are appropriate and aligned to regulatory requirements, industry best practice and delivering good outcomes for customers. We’re here to provide the support you need to drive increased payments / commitments to pay, operational excellence and cost efficiencies in a manner that protects customers.
How Huntswood can help
Our regulatory experts have a deep understanding of the priorities of the regulator, and its future direction of travel. We use this expertise to provide a comprehensive health check of your current operations, including a regulatory gap analysis, as well as peer benchmarking with full recommendations to ensure you are delivering in line with your regulator’s expectations.
We can support your firm in implementing improvements to your approach, from policy and process design to a full implementation of a new target operating model with all of the training and governance elements required.
Our industry-leading resourcing and recruitment platform can also ensure your business has the trained, vetted and high-quality people you need to carry out complex operations and manage high volumes of customer contact.
Testing outcomes is key to evidencing a tailored and effective approachTesting outcomes is key to evidencing a tailored and effective approach
When consumers find themselves in a collections or recoveries situation, testing outcomes becomes all the more important.
Huntswood usually segments its outcomes testing methodology into the following key areas for collections and recoveries (matching the typical stages in a customer’s journey towards a collections situation). Example questions posed at each stage are outlined below
Identification
Was financial difficulty identified at the earliest opportunity?
Understand
Is up-to-date income and expenditure information held?
Personalise
We enable our workforce with in-office or remote capabilities, creating maximum flexibility without sacrificing operational excellence
Communicate
Was the customer given the opportunity to enter into constructive dialogue?
Judgement
Did the handler exercise sufficient judgement in seeking to agree the best way forward?
Why Huntswood
- We work with you to develop a first-class onboarding process, from the groundworks of strategy and governance, to the operational needs such as resource and technology
- Huntswood provides a layer of defence against risky or fraudulent customers who could pose a threat to your firm
- We’ll help you deliver the kind of frictionless onboarding experience that customers go out of their way to tell their friends and family about
Complaints Outlook 2022
Actionable insight for every stage of the complaints journey
Case study
Delivering a collections programme for a global bank
44%
Reduction in Reportable Complaints
£380,000
Resultant Cost Saving, Re-Directed to BAU
3 Months
Early Completed Delivery
27
Collections Experts Deployed in 4 Weeks
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