The potential of data streaming in collections

Data streaming is transforming collections. While legacy systems struggle with batch bottlenecks, modern platforms process information the moment it is generated. This allows collections teams to work faster and deliver the fair outcomes regulators demand.

Everyday applications of data streaming

Data streaming is already working behind the scenes in your everyday life.

When you swipe your card, your bank instantly checks if it's really you making that purchase. If something looks suspicious, you get a text, app notification or call within seconds asking if you're actually buying something in another country.

Tap your phone at the supermarket and watch everything happen at once: your payment goes through, the item gets removed from their inventory, loyalty points hit your account, and your banking app updates your balance – all in real time. No waiting, no delays, just instant updates across every system that matters to you.

Reducing foreseeable harm in debt collection

Under Consumer Duty, firms must avoid causing foreseeable harm.

Outdated technology often creates negative friction – and this kind of friction causes harm. If a customer cannot resolve an issue because a system hasn't updated, their financial and mental well-being is put at risk.

Supporting vulnerable customers

Real-time data is critical for supporting those in vulnerable circumstances

Consider an anxious customer attempting to engage. If your system relies on overnight updates, that customer is left in limbo. This waiting period can lead to increased anxiety or poor financial decisions, such as turning to high-cost credit.

Real-time systems remove this latency. Agents have immediate access to accurate data, allowing them to finalise decisions and provide support in a single interaction.

Proactive pre-arrears management

The FCA emphasises early intervention. Real-time data allows you to monitor warning signs across all data sources continuously. Instead of waiting for a missed payment to trigger a workflow, real-time systems detect early indicators of financial stress.

This allows you to offer proactive, personalised support through the customer's preferred channel, offering the opportunity to prevent arrears before they occur.

‍

The bottom line: real-time collections that actually work

Real-time data brings the speed and accuracy of modern consumer technology to the collections floor. It ensures you are responsive, compliant, and efficient – eliminating the lag that leads to poor outcomes.

lnk‍