In Focus Collections Talking technology
Last month, CCRMagazine and The Zinc Group brought together a group of senior professionals, from amongst the most high profile and forward-thinking businesses in the industry, to share ideas on digital, providing a hub of knowledge and experience to debate the topic. They were: Richard Kerbey, card operations manager, Tandem Bank; Stuart McFadden, head of financial difficulties, Monzo (SM); Pamela Nast, director of billing, payments and credit management, Shell Energy (PM); Marie Moffatt, head of collections and recoveries, Zopa; Emma Ryan, head of servicing and legal, Octopus Property (ER); Simon Bayley, director, Moneybarn (SB); Nick Watson, head of collections, Virgin Money; Nicky Sullivan, servicing director, Kensington Mortgages (NS); Tushar Das, director customer management and insights, GAIN Credit (TD); Andy Allan, operations director, Pollen Street Capital (AA); Katy Everett, senior robotics and AI manager, Vanquis Bank (KE); Dan Smith, senior digital strategy manager, NewDay (DS); Kevin Edgar, TBI Financial Services; Steve Scott, head of strategy, debt management operations, RBS; Matt Fletcher, head of unsecured, Lloyds Banking Group; Craig Proctor, group commercial director, The Zinc Group (CP); Richard Fenton, head of corporate development, The Zinc Group (RF); and Dougie McManus, chief executive, Zinc Group (DM)
web-chat or in app chat already where you can start a conversation, but then you get to a certain point and the business has not invested in customer authentication so the conversation only goes so far or you need to switch channels.
AA: There can be a challenge for people with legacy books – you have onboarded something maybe five or 10 years ago and now you are wanting to communicate digitally, whether that is having a conversation over text message or email, and that was never in the terms and conditions to say that you were allowed to do that. So that can often be a barrier to implementing the technology, as it is just too costly or too hard to implement, as you are not in a situation of starting the journey from day one, where you can say that everything is online.
KE: I do think that if your online offering is sufficiently attractive then you will be able
I do think that if your online offering is sufficiently attractive then you will be able to get people to go through the process to sign off the extra terms and conditions to allow you to give them an easier journey in the future. If you have customers who do want to migrate to those digital channels, then it has to be that dream of a omni-channel experience, that however the customer wanted to deal with us, then we will be able to deal with it
to get people to go through the process to sign off the extra terms and conditions to allow you to give them an easier journey in the future. If you have customers who do want to migrate to those digital channels, then it has to be that dream of a omni- channel experience, that however the customer wanted to deal with us, then we will be able to deal with it. I think that sometimes you have to take a
step back and know that you are going to have to put some extra money in, but also know that it will be worth it in the longer term because your engagement with the customers will be much higher.
How has digital banking impacted customers, what are the positives and are there any negatives? DM: This is the key to it from my point of view: if we were to go around the room, then everyone would say that digital was the way to go, and that is certainly what we should all say, we should be
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Left-right: Kevin Edgar; Marie Moffatt; Matt Fletcher; Nicky Sullivan; Pamela Nast November 2019
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