As compounding cost-of-living challenges lead more and more consumers into financial difficulties, Collections & Recoveries teams are gearing up for a significant influx of calls from customers seeking assistance with their situation.
And with the new Consumer Duty legislation demanding firms do more to safeguard customers from making detrimental financial decisions – as well as evidence how exactly they’re working to achieve positive outcomes for their service users – the FCA’s oversight expectations have never been higher.
So how can C&R staff manage these new obligations, ensure they’re going the extra mile for at-risk consumers, and sufficiently evidence good outcomes to the regulator?
In our latest guide, we take a deep-dive into the unique everyday challenges now facing C&R teams - and outline how smart Compliance Analytics could hold the key to easing the mounting compliance burden.
Our Collections & Recoveries whitepaper explores:
— How complete, tech-enabled oversight of all customer interactions offers a valuable extra line of defence for vulnerable service users amid the cost-of-living crisis
— Why leveraging powerful AI trained on use-case specific conversations is critical to unlocking new operational efficiencies and focusing attention where it’s most needed
—How post-call Compliance Analytics helps futureproof your processes and give your team greater visibility of emerging conduct risks
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