Mobile Collections

In-house teams

Any organisation with a sizeable number of customers who can each generate small value debt will inevitably face resource challenges, given the cost of collecting this debt through in-house collections teams. Mobile Collect helps with this by providing an engaging and convenient “appless app”.

Our Mobile Collect is intuitive and grows with your business needs – it is not a closed development. The platform allows for multiple identify verification steps, and a bespoke UI for your end user to engage with. System integrations are also made simple as our Professional Services teams ensure our platform can “talk” with your CRM and PSPs in realtime.

DCAs

DCAs who have acquired large volumes of small value debt face a big challenge to provide great ROI, given the cost of using traditional communication methods.

Mobile Collections helps with this by providing an engaging and convenient “appless app” which, requires no continual development and uses communication channels that are significantly cheaper than traditional methods.

Mobile Collections also provide a number of options for your customers to engage with you to discuss their situation and make a repayment arrangement, where they previously would have been forced to make an expensive phone call, giving your customer a better experience and reducing your cost to serve.

Utilities

In the water sector alone, the total number of unpaid bills in the UK totalled £2.2 billion in 2015, which was an almost 20% increase on the figure from 2011. This number means that the cost of attempting to recover and write off those debts, added roughly £21 to the bill of every household in England and Wales. (Source)

Mobile Collections offer a tailored approach to resolving this problem, by providing the tools to treat every customer uniquely and fairly depending on their circumstances, which in turn greatly improves the chances of them making a payment.

Local government

Local authorities are under greater financial pressure than ever before to save on costs and recover more outstanding council tax. Recent estimates put the amount owed at £2.8bn, however, approaches to debt recovery vary from area to area, with the majority of councils still relying on more traditional approaches like sending paper reminders and bailiffs. (Source)

Mobile Collections give citizens more flexible ways to pay and could see fewer debts being incurred, a reduction in the stress and anxiety experienced by those with financial difficulties, a greater percentage of debts paid off, and councils spending less in the long run.

Retail

According to a recent study, the average UK shopper now owes an average of £432 across 3 store cards. Yet many consumers don’t see this as “real debt” with 9 out of 10 viewing it as “nothing to worry about” (Source). This attitude can often make collecting retail debt very difficult when combined with ineffective recoupment strategies like sending paper letters and making manual calls.

By using a mobile-focused collection strategy which is far more likely to reach the customer, retailers can not only stress the importance of the customer’s outstanding debt but also provide the convenient tools to make and plan payments.

Insurance

Few industry sectors will have to collect quite as many payments from customers as the insurance sector. While a large percentage of customers choose to make an annual payment, many choose the convenience of a monthly payment – but this, in turn, poses a problem for insurers. I.e. how to most effectively collect and arrange payments from those that miss a payment.

Mobile Collections provide a simple, engaging and cost-effective way for insurers to automate this collections process, while at the same time providers interactive payment scheduling tools which allow the customer to self-serve.

Motor finance

New car deals are being offered with 0% deposits and low monthly payments to entice more new buyers into showrooms – and it’s working! 80% of new car sales in 2017 were registered through personal contract plans, bringing the total amount of UK finance owed on car finance to over £60billion. (Source)

Inevitably, numbers this big will lead to many customers missing payments which would previously have been a massive undertaking to chase. Mobile Collections offer a completely automated way to collect these payments. By providing self-serve, flexible payment tools you’ll be increasing the chances of collecting more debt, and saving your in-house resource.

Personal loans

At the end of 2018 personal debts had risen in the UK to the highest level since before the credit crunch, reaching £239bn – with credit cards accounting for more than £70bn of the total. (Source)

Mobile Collections provide a simple, engaging and cost-effective way for insurers to automate this collections process, while at the same time providers interactive payment scheduling tools which allow the customer to self-serve.