The rapid growth of motor finance lending, underpinned by personal contract purchase (PCP) is leading to a growth of customers in arrears and an increased workload for collections departments. Our debt management solutions are specifically designed to help motor finance businesses reduce the cost of customer interaction and debt resolution.
Your customers will be able to engage across any device or platform. In addition, we also utilise machine learning, specifically using sentiment analysis to identify where a customer may be vulnerable, thus empowering collections agents to provide the appropriate level of support. This provides consumers with the space, time and information to make an informed offer of repayment for an account in arrears.
Often if a customer is experiencing financial difficulties with their car loan they could well be feeling the financial strain elsewhere, and our intuitive solutions aim to reach a sustainable resolution for the entirety of their debt episode. Our Collaborate solution also takes into account customer’s other repayment obligations.
What are the benefits to you?
- Seamless digital customer journey reduces cost to collect
Easy-to-use by design – reduces drop out, allowing the maximum number of customers to resolve their debt episodes successfully with no agent intervention.
- Rising customer demand for digital communication
The embarrassment factor associated with discussing a debt episode is dramatically reduced, combined with us as a society being “always on” it provides the perfect tool for debt resolution.
- Collaborative digital engagement dramatically reduces confrontation
Leading to more debt collected and improved debt resolution
- Fair and appropriate arrangement and promise creation
Allowing arrangements that are reasonable and affordable to maintain, reducing broken commitments through a first-time resolution
You easily can add our modular solutions to your existing IT infrastructure/collections ecosystem, implementation is quick, cost effective and most importantly shows ROI within weeks not months. From initial implementation to the first customer engagement can be as little as 4 weeks, thus ensuring rapid realisation of the benefits our solution is providing to your finance organisation. At Flexys we know collections and we understand the motor finance sector and the importance of establishing a sustainable debt resolution for both the lender and the customer.