Using e-channels for debt collection can, and should, be an efficient and positive experience for the customer. Yet, as an industry, our use of available technology remains out of step with customer needs and expectations. For example, our research suggests that fewer than one in 20 debt collection transactions were conducted online in 2012, despite the fact that OfCom’s International Communications Report (December 2012) revealed that the UK was number one in the world for online shopping, with 16% of all web traffic in the UK being on a mobile or tablet device – outstripping that of any other European country. With the latest IMRG Capgemini e-Retail Sales Index survey predicting that online sales will reach £87bn in 2013, and Google saying that 59% of consumers now have and use mobile internet, how long can the debt industry continue to ignore the potential of the online and mobile internet channel?
Read the full article, originally published in the February edition of CCR, here.
By Carlos Osorio, Director e-collections and payment services, TDX Group