Exploring customer experience and staff training for a High Street bank

31/10/2014 By Mark Long

A well-known High Street bank approached BVA BDRC stating that increasing levels of consumer credit arrears had thrown a focus on the activity of collections and recoveries agents across secured and unsecured lending functions. Following these developments, the client wanted to explore the current customer experience and understand the balance between effective customer servicing and assertive collections activity. Additionally, the client also wanted to assess the impact of a recently delivered agent training initiative.

Using our expertise and experience, BVA BDRC set up exploratory qualitative research via tele-depths followed by a quantification stage via telephone interviews. The use of client supplied sample stratified by credit product, servicing site and collections history enabled us to analyse and segment findings in the most relevant fashion.

Following this research we were able to supply the client with a comprehensive view of internal collections performance data fused to customer experience feedback. This allowed for the improvement of collections efficiency, and the volume of repayment promises made and kept. Operational centre managers were able to focus on specific strengths and weaknesses of their local operation, and training has been refined as a result.