SCENARIO:

Huntswood was engaged by a global bank to support in its collections and recoveries function following the identification of poor customer outcomes and resulting regulatory scrutiny.

We designed and managed a ringfenced operation, deploying experts with technical knowledge of repayment plans, IVAs, bankruptcy and forbearance options, and the communication and empathy skills to engage with customers experiencing financial difficulty.

We were also asked to improve the bank’s first-time resolution metric, and delivered a bespoke training solution to enhance their capability, supporting the reduction in complaints. Collections complaints subsequently reduced from 910 to 510 per month.

Our ringfenced operation supported the bank to get back within its SLA. Through increased productivity levels, we completed the engagement well ahead of the client’s expectation, completing all objectives within 7 months against an expectation of 10.

Due to the success of the delivery, and the surplus budget resulting from early completion, we delivered additional training to enhance the BAU team’s identification and handling of vulnerable customers.

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