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How Banks Are Transforming Their Collection Processes with Call Center Software?

Banking & Finance March 10, 2022

For many years, the banking industry has started using technology tools as a call center solution. From processing credit card requests to resolving common customer questions, much has been resolved using the call center solution for banks.

Along with meeting day to day operational needs of banks, this software is also useful in optimizing some banking operations and enhancing its results. The debt collection process has been transformed using the call center software for banks.

The call center solution for banks uses specific features such as collection module, customer profiling, sticky agent, preview dialer, predictive dialer, etc. to transform the traditional process into an enhanced one.

A. Classify Leads

The call center solution for banks with a collection module lets supervisors filter leads depending on different criteria such as lead score, payment history, number of due EMIs, etc. Depending on the group of leads, banks run custom calling campaigns using a predictive dialer or a preview dialer.

B. Send an automated reminder multiple times

The banks use voice broadcasting and SMS broadcasting features available in the contact center solutions for banks to send reminders to the customers about the due date of EMI. These features don’t involve agents in the calling campaign. This keeps agents available for other productive jobs such as running collection campaigns for overdue customer accounts.

The banks can send automated reminders, multiple times to customers using these call center automation features.

C. Tight follow-ups on overdue EMIs

There can be some customers with multiple overdue EMIs. These accounts need to be dealt with personalization and expertise. The call center software with a collection module will have a payment utility feature, which will show details of such customers. The banks can run personalized campaigns for this group of customers to increase the chances of payment and collection. Preview dialer and call center CRM integration come to the rescue of the agents to achieve increased collection.

D. Get certain answers from customers

The call center software for banks with a collection module makes some customer form fields mandatory to get more certain responses from customers. For example, if a customer promises to pay, he has to share the date of payment and the agent has to put that date before wrapping up the call.

E. Contextual discussion with mapped customer journey

Even if a bank uses an omnichannel contact center solution, the call center software for the bank will show all conversations between the banking call center and the customer. This will give context to the agents while having a discussion with customers. This helps in personalizing conversations and increasing collection.

The tailored unified communication solutions for banks transform various banking operations to do better. The contact center solution for banks with customized features helps banks to increase collection and improve other KPIs.

We offer call center collection integration to integrate a collection module into the call center software.

We also offer tailored unified communication solutions for banks like an omnichannel contact center solution, IP PBX software, video conferencing solution, and custom telephony solutions. Contact us to book a demo and know more about these solutions.

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