Financial services legal
Our client is one of the largest retail outlets for home electronics in the southern part of the US. As most of their inventory is large ticket price, they provide a branch of self-financing for their customers. The finance department is supported by a contact centre that manages relations for all customers who apply and use credit, including new credit, purchases, general services and collections of bad debt.
The challenge
Customers sometimes default on the loans they arrange, to which their debt is managed under the collections group. Often, our client finds that these customers use litigious language in defense of their bad debt, creating a situation that could lead to unnecessary legal costs. The client engaged BPA Quality to help reduce the percentage of bad credit clients that end up in court.
Approach
BPA Speech Analysts established queries that scoured every call for words typically used in litigious situations (eg “lawyer”, “I am going to sue you” etc.). Analytics were performed daily to produce a case list that would be then forwarded to a specialised legal queue, trained in managing high-tension credit risk customers.
Key learnings
- Ability to quickly identify high-risk, litigious calls
- Development of a process that allows cases to be managed outside of court
- Development of a bank of training calls to teach agents how to handle high-risk and high-tension calls
Impact
Armed with an accurate list of potentially litigious cases, our client was able to establish a queue of high-risk specialists.
This queue worked specifically on these cases, focusing on resolving issues outside of court.
With the installation of this process, the client realised a drop of approximately 14% in total calls that resulted in court time. The process also has the side benefit of establishing a method for the proper archiving of audio files that are used to establish credit case facts.
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