Jaywing announces Digital Collections 2.0 upgrade
Jaywing has announced the release of Digital Collections 2.0. The enhanced product offers improved repayment functionality, extensive analytical data extracts, new modules for Marketing and User Training, and a much improved user interface.
Digital Collections is a web-based system that integrates seamlessly with clients’ existing Collections operation, enabling customers to securely make repayments and propose repayment schedules. The site is completely configurable, putting the client in control of all the rules and parameters, ensuring that accept/decline/refer decisions made online are consistent with those made by collections agents. The customer site offers budgeting tools and debt advice, and can be fully customised with the client’s branding, colours and bespoke content.
New features within Digital Collections 2.0 include:
- Repayment Agreements: The core repayment functionality has been expanded to give a choice of approaches, which can be turned on and off for different customer types. In addition to instantly assessing a customer’s proposed repayment, the system can also push counter-offers to facilitate earlier repayment, and make ‘full and final’ settlement offers to selected cases, depending on their severity/profile.
- Data extracts: The service records every page visited, and every click and input that the customer makes. We now make this critical data available for analysis – enabling the behaviour of online customers to be modelled, understood, and turned into useable segmentation, further enhancing performance of your Collections site.
- Marketing Module: A cost effective mechanism for promoting the Digital Collections system to debtors, increasing adoption. The more debtors who register and use the system, the more money can be collected, producing healthier returns, and with the added benefit of collecting more data and a clearer understanding of customers’ financial circumstances.
- User Training Module: Jaywing recommends its user training module for some or all users of the system: from Collections agents to the teams responsible for configuring business rules and accessing the system’s reporting tools. Training is bespoke to each client, according to the tools available within each specific implementation.
- User Interface: The much improved UI brings the product right up to date with the latest web design standards and makes it even easier for customers to make payments and find the advice they need. The agent portal has also been greatly enhanced, ensuring agents can quickly see a full picture of each customer’s status and provide advice as needed.
Jaywing managing director Adrian Lingard said, “These enhancements take the system from a good product to a great one. The clients we have shown it to love the new interface and with the addition of the Marketing Module we will ensure maximum adoption by debtors, while improving their likelihood of re-engaging as customers once their account is clear. With 67% of the UK population preferring to bank online, credit providers ignore the online collections channel at their peril.”