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In Focus Consumer Credit


Finding the right niche


Samantha Barnard has recently taken up the position of Director of Client Partnerships and Acquisitions at Lantern. Last month, she spoke to CCR about the change


Having spent the last 12 years in the debt purchase industry at Lowell, I have learnt that the importance of customer management is key to any client when considering debt sale. This is even more prevalent when


considering the sale of vulnerable customers, which more and more clients are now considering to a specialist partner, particularly as a result of the impact of the current pandemic. I believe Lantern are second to none


when combining the purchase, onboarding and ongoing management of identified vulnerable customers. This is not just because the purchase of


these portfolios is not common place in the industry (as most debt purchasers do not have an appetite to buy) but because of the way Lantern handle each customer on an individual basis from the outset, throughout the life cycle, and consistently at every touch point across every channel. It is something I know lenders are keen to find a solution for, hence my move.


Vulnerability strategies Many debt purchasers have good strategies once vulnerability is identified; however few can categorically claim to be able to do this from the outset. Lantern can do this, and do this well,


As a result of the pandemic and generally as clients are becoming more aware of the varying types of vulnerability, the number identified is on the rise and our clients need a partner who truly understands the nuances of vulnerability, can manage customers on an individual basis and can demonstrate success by doing the right thing


October 2020


due to a unique Single Customer View (SCV) platform. This platform allows the first and any


subsequent accounts the customer has to be consolidated, so any outbound contact is done in a way that is knowledgeable about the customer circumstances and a way in which the customer chooses. A system that allows all inbound


customer contact and payment plans, regardless of the customer channel of choice, to be joined up – seamless!


Customer experience Of course the system does not deliver the customer experience, Lantern has developed itself to be a specialist, niche if you like.


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Ensuring it has empowered the front-line


agents, across voice, digital and support functions to manage the customer journey end to end. Everyone who has contact with a


customer receives specialist training to ensure they understand the realities customers face, and that those realities are reflected in the outcomes that are agreed on.


Types of vulnerability As I touched on earlier, as a result of the pandemic and generally as clients are becoming more aware of the varying types of vulnerability, the number identified is on the rise and our clients need a partner who truly understands the nuances of vulnerability, can manage customers on an individual basis and can demonstrate success by doing the right thing. Lantern is that partner, and I look


forward to working with clients, old and new, to deliver empathetic, sustainable vulnerable customer management. CCR


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