SAN ANTONIO—SWBC is reporting it has implemented FICO Customer Communication Services for Collections to build what it said is an “enhanced digital communications system that provides its clients with best-in-class communication tools to interact with their borrowers.”
SWBC said the move not only has improved service offerings for clients, but also created internal efficiencies with more automation.
“Our clients are looking for multiple-channel contact options to reach borrowers during the delinquency cycle,” said Jeff Mortenson, VP of client relations, collections, for SWBC’s Financial Institution Group. “Leveraging FICO CCS provides our clients with the opportunity to use digital communications, which includes outbound and inbound IVR, text, and email. This is a less invasive approach to collections that creates engagement by offering borrowers self-service options and achieves results.”
By integrating FICO’s technology with its existing best-in-class live agent program, SWBC said it can offer clients omnichannel communications options for customizable borrower interaction during the delinquency cycle.
Key Benefits
According to the company, key benefits of the FICO CCS implementation include:
- Customization: SWBC can provide its clients with various communication channels to modernize their debt resolution strategies with borrowers, which can be automated in a way that is convenient for them
- Self-Service: SWBC’s clients can provide borrowers with the ability to self-serve their past due account by allowing them to make a payment or promise-to-pay, improving the debt resolution experience
“Offering consumers personalized communications with a human touch is important to customer satisfaction. Integrating FICO CCS allows organizations like SWBC to offer communication methods that lead to debt resolution but do so in a way that shows consumers that their financial institutions do understand their situation and the best way to communicate with them,” said Michael Magaard, vice president of CCS at FICO.
Smart & Personalized
FICO added, “FICO Customer Communication Services for Collections enables businesses to deliver communications that are smart, personalized, and scalable due to the company's expertise in combining automation with analytics. This solution engages consumers in automated dialogues that are convenient and respectful of channel preferences, including self-service, virtual and human agents, SMS, mobile apps, and interactive voice response (IVR), ultimately driving debt resolution and enhancing the customer experience.”