Those managing call centre QC resources are having to juggle like never before, particularly those engaged in any sector concerned with debt repayment. The cost-of-living crisis facing UK households is one of the main themes in the media and this issue is rapidly coming to a head. We know a debt charity is gearing up for a doubling in clients needing support over the next three years. Additionally, UK Finance data shows that at the end of Q1 2019 24,200 homeowners had arrears greater than 10% of their mortgage balance and that the figure is now 29,340. At the same time, a large national UK building society is openly stating, “There is a risk of a downward movement in house prices, given the pressure on household budgets.”
UK lenders and servicers have usually been good at providing tailored forbearance and support to borrowers who need help, ensuring that customers are not put on repayment plans that they cannot afford. Most lenders are conscious that there is a risk that potentially vulnerable customers agree to the first suggested option even though they may not be able to keep to the agreement. Regulators have punished those lenders who do not look after customers appropriately with large fines.
The number of people in arrears contacting call centres is increasing. We have previously commented on how Yabber can assist with agent resource planning, but that’s only one side of the equation. Call centre managers are also under pressure to control increasing costs. Choices are limited; they can accept the increasing costs thereby squeezing tight margins, allow QC oversight to effectively reduce the percentage of cases reviewed or rethink the QC process to be more efficient and cost-effective. It’s the latter option where Yabber can help.
The old way of testing, say 10% of all calls, doesn’t help firms address complex risk questions such as ‘are customers being put into repayment plans they cannot afford?’. That’s where our solution is at its best; we are experienced in script analysis to ensure that Yabber looks for the right data and as it analyses 100% of transcribed calls, failed solutions can be identified and put right quickly.
To learn more and to see how our independent oversight can help you, arrange a demo of the system or simply have a chat, give us a call.