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Tech Mahindra together with QUALCO, proactively optimise collections process across the Financial Services (FS) customer journey. We utilise the most suitable contact channels and then offer contextual solutions that ensure customer and business sustainability while enhancing the value of collections.
Tech Mahindra together with QUALCO, proactively optimise collections process across the Financial Services (FS) customer journey. We utilise the most suitable contact channels and then offer contextual solutions that ensure customer and business sustainability, while enhancing the value of collections. Here is how we address the collections situation:
Tech Mahindra and QUALCO’s joint solution offers:
Automation led Approach for collection strategies
Analytics driven predictive models for timely recoveries
Highly experienced receivables management team
Optimized resource utilization with “Bolt-on” toolsets
Best collection practices incorporating "Collections Effectiveness Index"
Multichannel communication & E2E transaction execution for all stages
Digital CX, early identification of movers and personalized recovery actions
Our sophisticated digital remote collections process mining with data-driven intelligence is leveraged to tackle the impact of pandemic situations like COVID-19 on utility consumers and ensure collections efficiency index is not compromised. Our approach ensures an improved operating model, improved CX from simple debt collection to financial well-being of the consumers, as well as empowering utilities with proactive engagement models and consumers with digital self-service interventions.
Change current payment plan and choose to reduce monthly payment
Take a payment holiday or place a hold on account request
Manage payments more effectively, even if there is no plan
Target specific customer groups that may currently be at a higher risk
Promote payment plans to help customers repay arrear
Enable customers to discuss a change in their current payment plan
Managing Collections activity using data and analytics is a surprisingly underutilised approach, despite it being proven to deliver significant ROI, through reduced operational costs, reduced losses and higher levels of collections.
Classify customer into different microsegments based on advanced analytics models rather than standard criteria
Forecasting the risk scores based on credit history, past defaults, broken value at risk & more variables with advanced algorithms
Monitor the contact center operations by analyzing agent performance for their collections efforts
Improve the contact rate by highlighting the preferred channel & time of customers