LONDON, 29 JULY 2019 – ieDigital was recently shortlisted in four categories at the Credit & Collections Technology Awards 2019. The categories are ‘Customer Engagement Solution’, ‘Digital Business Transformation’, ‘Finance Lending Solution’ and ‘Innovation in Collections & Recoveries’. The winners will be announced on 12 September at Crowne Plaza Newcastle.
The Credit & Collections Technology Awards, organised by Credit Connect, recognise innovation in the UK credit and collections industry. The four categories ieDigital was shortlisted for are described as:
ieDigital shortlisted in four categories
Customer Engagement Solution– The winning entry will show clear innovation in customer engagement technology. By providing an overview of customer engagement tools, they would demonstrate how they enabled best customer engagement and outcome. Explaining how the technology was successfully deployed as a contact strategy, they would showcase how customer experience and outcome was improved.
Digital Business Transformation– The winning entry will recognise a partnership has created a positive technological change. This transformation could be the result of an in-house technology team or a fintech/technology provider creating a successful partnership with a creditor/collections specialist.
Finance Lending Solution– The winning entry will show obvious innovation in finance lending technology. The award will highlight a specific innovation which has made a real impact in enhancing financial lending. The entry will demonstrate a new or significantly improved service that enhances a solution benefiting lenders and borrowers.
Innovation in Collections & Recoveries– The winning entry will highlight a specific innovation that has made a real impact in enhancing collections & recoveries processes. An innovation which offers new or significantly improved service that implements benefits to collectors and customers. This technology will demonstrate benefits to collectors and, more importantly, their customers. It would provide evidence of an improvement in performance, not only in terms of monies collected but best customer outcome.
“We are delighted to be recognised by the Credit & Collections Technology Awards across four of its key categories,” said Jerry Young, CEO of ieDigital. “Being shortlisted is an honour not just for the great team at ieDigital, but for our customers, who have put their trust in our technology over the years. Our focus is, and always has been, to strive for and deliver exceptional experiences that revolve around customers. Being shortlisted in this prestigious awards is an indicator that our focus is undimmed.”
The self-serve proposition, to help customers manage their own financial journey
ieDigital created Interact Collect to not only help its clients recover debt, but to help the customer manage their own journey through financial challenges without feeling confused or embarrassed. This is achieved by augmenting traditional collections channels with a digitalised self-serve platform, which is fast becoming the preferred channel for many consumers.
The self-serve approach benefits customers in many ways. Businesses see improved debt recovery and significantly lower operational cost of recovery. Starting at the end of the user journey also allows businesses to gain more accurate customer data and insight, while enhancing the overall customer journey. This increases customer satisfaction. A Tier 1 retail banking client, for instance, implemented Interact Collect debt collection software and achieved ROI in under nine months. It also achieved a 74% reduction in cost per engagement and a £994,000 annual increase in amount collected.