Here’s how we are helping lenders handle peaks in customers coming to the end of their Payment Holiday

Here’s how we are helping lenders handle peaks in customers coming to the end of their Payment Holiday

In addition to all the usual Embark features accessible to our clients, we have introduced:

Digital Triage

Our new digital triage feature has been developed to help lenders effectively manage customers coming to the end of their Payment Holidays, alongside those requesting an extension to their Payment Holiday. This helps to reduce the additional headcount cost you would normally incur by having more agents on the phones.

A combination of website and chatbot functionality means your customers can quickly provide your agents with an update on their circumstances.

How it works;

The customer will be asked a number of basic questions to understand their current circumstances and find out if they have been financially impacted further by Covid 19 since taking a payment holiday. At this point the system will automatically route the customer to the next stage, this could be one of the following:

The customer proposes a repayment towards their arrears

Outcome – the system then pushes this outcome back into your own system for agreement by an agent

The customer is unsure how much they can afford to repay

Outcome – the customer will be asked to complete Embark to help them understand how much they can afford to repay

At the end of the Embark journey the customer is then provided with further options:

They can propose a different payment towards their arrears

agent-advice

They don’t propose a payment and need further agent advice, this could be a request to extend the payment holiday period

debt-advice

The customer can refer themselves for Debt Advice where they meet your predefined criteria

The outcome can then automatically be pushed back into your case management system, taking all the manual labour away from your agents and removing any bottlenecks on your phone system.

Bulk upload

This feature allows you to individually tailor content, and send emails or text messages en masse to specific customer groups.  This allows you to segment your customers according to your preferred criteria and send tailored requests to each customer category, enabling them to complete their affordability assessment.

Book a demo or speak to us

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