Spotlight – Paylink Collections
Paylink Collections was developed as a business to consumer information gathering portal, primarily to support businesses in making key financial decisions about their customers.
Derived from our Embark I&E platform, Paylink Collections’ success has stemmed from the accurate targeting of relevant financial information, allowing our clients to make informed decisions relating to their customers’ individual circumstances. Where financial problems are highlighted, customers can then be directed to sister company, PayPlan, for independent free debt advice.
Partner firms integrate Paylink Collections into their own systems to gather income and expenditure (I&E) data from customers, who find it extremely easy to use (as reflected by a satisfaction score of 4.5/5).
- Self-service journeys can be instigated by email / text or entered directly via a website form / app
- Credit Reference Data and Open Banking Data improve speed and accuracy of the I&E process
- Quick and efficient triage to free debt advice with seamless transfer of customer and I&E data
With over 70,000 I&Es completed since its launch and a 75% in-app completion rate (that is constantly improving), we are confident that this tool is adding great value to its users.
Let us find out a little more about Paylink Collections
Customers can either opt for a PayPlan referral themselves at the end of their I&E journey, or have this recommended by our partner firm
- The completed I&E is passed onto PayPlan, building trust and reducing duplication
- Self-referring customers may have limited knowledge of what PayPlan can do for them when they first speak to us, so knowing how they were referred via Paylink Collections is crucial to engagement
- Experience shows that referred customers have a high preference for starting their engagement via Live Chat. They are then supported by the Digital Triage Team, where a thorough introduction of the benefits of PayPlan’s advice can be delivered
Why does Paylink Collections improve PayPlan’s Debt Advice Journey?
The platform allows PayPlan to spend more time understanding customers’ needs and gives a truly bespoke solution to each and every person. Completed I&Es can be viewed via Scanned Documents within PayPlan’s Vulcan database, which makes it easy for PayPlan to view customers’ details quickly and advise them based on their circumstances.
The live chat option is very popular, Annabel Swales, PayPlan’s Digital Manager explains:
PayPlan has a great range of digital communication options, and one of these is Live Chat. Our team consists of highly trained debt advisors and you are always taking to a person — you can even see their picture! This ensures the Live Chat experience is comforting, convenient and time efficient, fitting in with everyday busy lives. Customers that access Paylink Collections on a mobile device will also benefit from the same positive journey.