Category Archives: Collections & Recovery

Collections & Recovery Video: NAB Succeeds With Analytically-Driven Collections

Analytically driven collections
Apr302018

National Australia Bank, one of the four largest financial institutions in Australia, auto-resolves 75% of delinquent conversations with customers while maintaining its posture as a leader in customer care. The bank has done this by harnessing the power of FICO’s Customer Communication Services (CCS) to bring analytically-driven automation to its collections process. The implementation has resulted in 75% automation of all cases, a lower cost-to-collect and reduced impairment. It has also produced a Net Promoter Score of 63. That means that 63 out of every 100 customers handled in NAB Collections would promote their positive experience to others. Now there’s a thought, brand promotion from those you might not expect! Previous to the move to analytically-driven collections, NAB was using an inefficient dialer and SMS platform. They needed a lot of people to service customers and a lot of the calls weren’t very effective.  In the past NAB’s collections staff were... [Read More]

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