| Bank of Queensland Case Study |
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Enabling smarter, more relevant decisions |
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 solution
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.”
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