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Balance collections with retention for each customer
In the highly competitive retail banking environment, banks are spending large marketing budgets to win new customers.
However rising acquisition costs also mean that customer retention is key, with banks looking to prevent attrition and maximise the value of existing customers. To add to this, the growth in the availability of credit over recent years has lead to increasing numbers of banking customers becoming indebted across a number of different products.
Banks have recognised that managing credit loss and the customer relationship is a challenge and working together with Experian, a solution has been developed to address these key debt mananagement issues.
With Experian Tallyman banks can now minimise bad debt and rehabilitate customers rapidly to reduce attrition and maintain revenue streams for the future profitability of the organisation.
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