Bestpair™ Drives a 24% Increase in Collections Performance for a Long-Term Loan Provider
Introduction:
In this case study, we explore the impressive performance achieved by one of our valued clients, a prominent long-term loan provider. By utilizing Bestpair™, our innovative solution for optimizing collection rates, the client’s 195-person collections team experienced a substantial 24% increase in performance during the year 2023
Key Findings:
During 2023, the client’s collections team achieved a remarkable 24% increase in their collection rate, directly attributed to leveraging Bestpair™. This significant boost, achieved in a relatively short campaign duration, underscores the potential for further gains.
Team Response:
The client’s collections team responded with enthusiasm and motivation upon seeing these impressive results, highlighting the positive impact of Bestpair™. Both the client’s team and our own team are eager to build on this momentum and explore additional opportunities for delivering value.
Future Prospects:
As the campaign progresses, we anticipate even more promising outcomes as Bestpair™ continues to improve as the campaign matures. Our process involves assigning each agent a portion of Bestpair™ prospects and a control group of prospects. After a collections cycle, we meticulously compare the value generated from the Bestpair™ prospects to that of the control group prospects. This difference, or delta, represents the precise value generated by Bestpair™.
Furthermore, we use the data from the control group to track agents’ progress and development, ensuring that Bestpair™ continually adapts and refines its pairing strategies in realtime. This iterative approach to optimization means that we’re not only focused on achieving a 24% increase but on exceeding it in the future. As Bestpair™ gets smarter with every set of results, we are committed to pushing the boundaries and delivering even more exceptional results for our clients
Conclusion:
This case study highlights the significant impact of Bestpair™ on our client’s collections performance, achieving a 24% increase within a short period. The campaign showcases the potential for optimizing collection rates in the loan industry, and we are excited about the continued success of this partnership
If you run a collections operation and would like to boost your strike rate, Let’s have a chat!