14 paul noble collections
Post on 17-Feb-2017
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Paul NobleChief Executive Officer
6 October 2015
2
Champion of the Forgotten Borrower
• Launched in Sept 2013 with over 250,000 customers applying for a loan in the past year
• Offer a fair and transparent alternative to under-served borrowers unable to get a bank loan and reluctant to take a short-term, high-cost loan
• Loans £1k to £5k over 12 to 24 months
• APRs from 35.9%
6 October 2015
3
Knowing your customer – beyond acquisition
• Lenders provide great customer experience initially
• We owe the customer the same experience should they fall into arrears
• Data is pivotal to collections conversations
• DMCs know about customer difficulties earlier than lenders
6 October 2015
4
Lenders need to support each other
• Customers often have borrowing across lenders
• CRA data can be out of date to support collections conversations
• Is your customer in arrears with others?
• How do you know whether your customer will maintain any agreement?
6 October 2015
5
Insight can come from non-traditional sources
6 October 2015
6
Let’s share! Do it for YOUR customers
• We need to come together• Embrace technology• Share your data with CRAs
real-time• Protect and support
vulnerable customers
6 October 2015
Thank you
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