Case Study: Financial Services
Blake Teams with Callbi Speech Analytics to Improve Debt Collection
Analyse 100% of all call recordings
OVERVIEW
Blake is a leading provider of specialised debt collection and recovery solutions. Blake makes 5,400,000 outbound calls on a monthly basis and 190,000 inbound calls are fielded from customers. This gives Blake a big opportunity to gain actionable insights from their voice data.
CHALLENGES
The debt collection industry is facing a multitude of operational challenges as a consequence of COVID-19. On the one hand, the overall number of delinquent debtors and the magnitude of consumer debt is rising dramatically. On the other, it has become vital to maintain strict ethical, moral, and regulatory compliance – all within the framework of delivering a positive customer experience that is in line with credit providers’ business and CX strategies.
"It is a delicate balancing act, driven by the need to maximise debt recovery whilst maintaining high levels of compliance and treading the line of best practice."
THE SOLUTION
In October 2020, Blake implemented Callbi Speech Analytics to support the quality assurance and auditing process and to improve debt collection performance results. Speech analytics has traditionally been expensive and difficult to implement but recent developments in locally-developed technologies have made speech analytics affordable, easy to search for auditing and QA to improve performance. Speech analytics is essential to monitoring and improving contact centre performance. With Blake’s modern contact centre platform and call recording capabilities, it was easy to access millions of customer conversations.
“Recent developments in locally-developed technologies have made speech analytics affordable.”
BENEFITS
Callbi Speech Analytics enables Blake’s QA team to:
- Analyse 100% of all call recordings and,
- easily identify insights and specific issues needing urgent attention.
These range from identifying calls where agents are not following prescribed negotiation pathways or missing key compliance components, to flagging calls with high silent times pointing to potential routing issues or agent inefficiencies, and even checking if agents are capturing correct call outcomes. Collections have improved significantly whilst maintaining regulatory compliance, offering a more positive customer experience.
CUSTOMER TESTIMONIAL
“The knowledge and information contained in this latent data is a huge source of deep insights that helps to drive both tactical and strategic interventions in our collections business”, said Shawn Lewis, Operations Executive at Blake Collections. “Callbi Speech Analytics is designed to significantly improve overall operations and simultaneously, protect the integrity of relationships between debtors and credit providers.”
