The Challenge:
The bank faced regulatory pressure to improve collections processes and customer outcomes. It required rapid deployment of skilled resources with technical knowledge of repayment plans, IVAs, bankruptcy, and forbearance options, as well as strong communication and empathy skills to support vulnerable customers.
The Solution:
Huntswood designed and managed a ringfenced operation, deploying 27 collections experts within four weeks. We also delivered a bespoke training solution to improve the bank’s first-time resolution metric, reducing complaints significantly.
Our team worked at pace to bring the bank back within SLA, completing all objectives three months ahead of schedule. The success of the engagement generated a surplus budget, which was redirected to deliver additional training for BAU teams on identifying and supporting vulnerable customers.
The Results:
- 27 collections experts deployed in four weeks
- 44% reduction in collections complaints (from 910 to 510 per month)
- Delivery completed three months early
- £380,000 cost saving redirected to BAU improvements