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The Challenge
A reputed financial company was struggling with debt collection during the moratorium due to RBI regulation in the wake of the Covid-19 pandemic. Unnecessary calls were going from different call centres, creating bad customer experiences leading to high attrition rates. Identifying customers willing to opt-out from the moratorium and proceed with their regular EMI payments was a massive challenge.
Stefto’s Solution
Stefto proposed a solution to send SMS to all customers by default for payment with an exclusive offer for customers who are willing to opt-out of the moratorium. The SMS would also contain a missed call alert number, which customers could use to opt-out from the moratorium. This was designed with a proprietary IVR system developed by our technical team at Stefto.
We had received a good response from customers and called them to get the payment & provided the offers as per the eligibility. This has increased the payment of bucket X collection from 67% to 75 % during Covid-19 period. This also resulted in minimizing the customer escalation who were earlier complaining about collection calls.
The client was impressed with our solution and satisfied with the outcome.
Through financial clarity, we provide you with the financial confidence you need to achieve.
And, that’s just the beginning.
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