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.

Related Content

Collections and recoveries blue

Collections

Ensuring fair treatment of customers in financial difficulty

Complaints excellence purple

Complaints Excellence

Turn complainants into advocates by delivering customer service excellence

Complaints outlook 2019 background
Complaints

White Paper: Complaints Outlook 2019

How do your complaints compare against your peers? More importantly, how do you compare with customer expectations?

Operational excellence

Operational Excellence

Ensure that every function in your business is connected, effective and successful

SIGN UP FOR REGULAR INSIGHT

Keeping up-to-date with the latest industry topics and regulatory issues can be quite time-consuming! 

Thankfully, our regulatory experts are here to help you stay on top of it all. Fill in the short form below to receive a monthly round-up of our insight, news and analysis.