The inaugural DBC for Collections Live Debate was held on Tuesday 28th March at the Law Society, London.
Topic: What disruption will the advent of digital technology bring to the collections industry? Where will traditional collections methods be supplanted by the digital revolution – and where can they work alongside digital to mutual benefit?
While many organisations are enthusiastic to bring digital transformation to their collections operations, opinion is divided on whether this change should take the form of evolution or revolution.
In this Debate, collections experts in the midst of adopting digital strategies discussed their visions of the future.
The discussion points included:
• Is there a future for traditional telephony and direct mail collections
• Champion vs Challenger – what is the case for digital interaction compared with the traditional call and collect model?
• How can digital allow for optimisation in deployment of traditional channel communications?
• Can organisations reap the scalability benefits of a self-serve digital offering while still deploying traditional channels where most suitable?
• Cost reduction vs better customer outcomes – where is the balance of benefit?
• How will the FCA’s indicts of December 2016 factor into developing debt recovery strategies?
The Panel for this Debate:
The Debate was Chaired by Fred Crawley, Consulting Editor, Credit Strategy and Chair of the DBC for Collections. Joining Fred were:
- Derek Usher, Managing Director, Cabot Credit Management
- Paul Stretton, Head of Debt & Credit, Extra Energy
- Sam Taylor, Customer Services Manager, Moneybarn
- Randolph McFarlane, Head of Partnerships, Intelligent Environments