Case Study: Bank of Queensland
Business Challenge
Consumer
credit has grown to new heights of popularity as loans and mortgages
are used, not just for necessities, but to supplement household income
and improve the general standard of living. The downside to all this
is that a growing number of customers are simply not repaying their
debts. BOQ wanted to adopt the most effective and proven techniques
for ensuring that recovery rates were kept as high as possible, whilst
still maintaining a high level of customer service.
The Decision Analytics answer
The Tallyman Debt Management system was chosen, not only because it fulfilled the criteria of helping the bank to reduce debt and save money, but also because of its ease of use and implementation.
The Benefits
- Increased efficiency: administrative costs of collections department decreased
- Better monitoring: Tallyman enables the performance of the arrears book to be monitored
- Autonomy: Tallyman operates independently within Bank of Queensland and requires no external support
- Automated recovery of accounts based on actions taken
"Customer service is our key differentiator. This means that when
our collectors contact customers in arrears they need to maintain and
build the existing relationship. By giving us a complete view of individual
customers, Tallyman enables us to make smarter, more relevant decisions
– and stay ahead of any problems that might arise."