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Voice and text options for collections and lending

Collections and lending can benefit greatly from voice and text options from CallFire.

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Voice and text options for collections and lending

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  1. Voice and text options for collections and lending

  2. Collections/lending in the mobile era • Traditionally, collections carried out via wasteful paper mailers, repetitive and useless phone calls • Easy to avoid, easy to tune out • Landlines/mail boxes are ineffective means of contact for younger clients

  3. Collections goals • Increase client debt recovery rates • Minimize overhead costs (labor, premises, etc.) • Ramp up individual employee efficiency

  4. Modern collections strategies • Voice and text connectivity allows for more targeted, specific campaigns to carried out via mobile devices • Individual clients will respond positively and negatively to different outreach techniques, find what works

  5. Multi-pronged approach • Mobile technology allows for multi-faceted approach to collections • Hosted call center • SMS outreach • Voice broadcast • IVR overlay

  6. Hosted Call Center • Computer weeds out bad numbers, wrong numbers • Computer distributes pre-recorded answering machine message so agents don’t have to • Agents spend phone time connected with live clients rather than waiting through dial tones

  7. Hosted Call Center cont’d • Computer displays crucial client information on screen, updates automatically per client • Agents are able to maintain/update client records in real time as they interact on the phone

  8. SMS outreach • Text messages have the highest ‘open’ rate of any other form of personal communication • Clients disinclined to speak on the phone are more likely to respond to text message prompts

  9. Voice Broadcast • Clients receive a phone call with a pre-recorded message pertaining to their account/payments • Scalable from individual to thousands of simultaneous messages

  10. IVR Overlay • In conjunction with voice broadcast, IVR overlay provides clients an automated method through which to connect and make payments. • Clients are prompted to ‘press 1’ during voice broadcast • Touch tone automatically connects with collections agency automated attendant.

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