Keep and manage good customers
Keeping good customers is more critical than ever. This means that building loyalty by providing the best possible experience for customers – including those that may have debt problems is essential.
This is difficult to achieve in today’s complex landscape, were strict regulatory environments are increasingly focusing on fairness for consumers.
Lenders have to prove that the products they offer their customers are appropriately targeted, whilst also protecting consumer choice. At the same time, debtor behaviour is changing, making it difficult to distinguish customers who are likely to pay from those are not.
Faced with these challenges, lenders require deep customer insight, throughout the customer relationship. Organisations understand the importance of this, yet often struggle with the high cost and complexity of developing and executing customer-centric strategies.