Technology
Debtors are becoming increasingly more difficult to reach and more sophisticated in their understanding of options when approaching creditors. Yet, the basic technology and approach used in collections has not kept up with changing consumer preferences.
In partnership with Collections Marketing Center, Inc. (CMC), TSYS® offers a multi-channel, browser-based collections system that integrates the various channels into a consolidated platform. TSYS FlexCollectSM allows financial institutions to rapidly deploy a synchronized, multi-channel collections service that significantly enhances agent productivity, reduces charge-offs, and improves the customer experience by giving them access to highly customized self-service payment options.
The goal of this partnership is to provide TSYS customers more advanced tools to improve the efficiency of their operations. By offering integrated TSYS Collections services through CMC, TSYS clients can shorten implementation timeframes, obtain pre-integrated products directly from TSYS, and enhance reporting, which can not be purchased elsewhere in the marketplace. TSYS FlexCollect can also be used for both pre- and post-charge off collections and is hosted by our partners at CMC.
Rapid Deployment
Because TSYS FlexCollect is already integrated with TSYS’ billing and collections capabilities, the client implementation process is lessened and does not require software or hardware capital expenditures.
Enhancement versus Replacement
Whether our clients need to augment existing systems and capabilities within their collections operation or deploy it as a completely integrated frontend to their collections operation, TSYS FlexCollect accommodates a wide range of client environments. As a hosted solution that supports a number of client systems and products (card, consumer loans, home equity, mortgage, student loans), TSYS FlexCollect is the perfect alternative to an increasingly siloed system’s environment.
Multi-Channel Communications
TSYS FlexCollect allows collections strategists to manage, control, and adapt offers and treatments as well as manage collector floor limits and queues at the individual agent, team or call center level. The platform includes a debtor Web site, IVR, e-mail, text messaging, letter and dialer-based contacts as well as providing a fully-integrated Agent Workstation for maintaining consistency of contact with debtors. Clients can deploy one, or more of the channels through TSYS FlexCollect, or in conjunction with existing channels to meet their specific needs.
Productivity Enhancement
TSYS FlexCollect enables a client to focus agent efforts on those hardest-to-contact debtors while optimizing the channels deployed to reach the rest of the portfolio. As a result, clients have experienced upwards of 59 percent of payers never having spoken to an agent at all, resulting in productivity gains of 15 percent or more.
Reduced Chargeoffs
Despite our best efforts to maintain a professional tone and manner, the industry has gained a reputation that has caused a significant portion of the debtor population to be extremely “agent averse.” By providing self-service alternatives and making a multitude of payment programs possible, TSYS FlexCollect has succeeded in reaching a high number of previously uncontacted debtors, which has resulted in clients achieving substantial reductions in charge-offs with the service.
Improved Customer Experience
by managing all the channels and program offers through a single management interface called the Business Command Center, TSYS FlexCollect enables clients to maintain consistency and regulatory compliance, while allowing debtors to self-serve 24 hours a day, seven days a week, and providing the ability to speak to agents who are aware of all previous interactions across all channels.
Adaptability and Optimization
By providing a dataset with all the interactions, queues, offers, and treatments for each customer, TSYS FlexCollect provides clients the ability to optimize their approach in ways that we have all only wished for in the past.
For more information, contact your TSYS client representative, or TSYS Sales at +1.706.649.2307 or sales@tsys.com.
FlexCollect is a registered trademark of CMC.