Virtual Debt Support Assistant
Lead Participant:
ONE ELEVEN CONSULTING LIMITED
Abstract
As of 15 April 2020 There have been around 1.4 million new Universal Credit claims since mid-March and an ONS survey showed that around 30% of businesses reduced employment and/or hours for their workers during the second half of March.
As a result of the Coronovirus pandemic, customers across the country are feeling increased financial pressure as incomes are reduced and companies struggle to offer tailored debt support to customers during this difficult time.
A virtual debt support assistant focussed on helping customers experiencing difficulty to pay utility and other bills to verify their balance and agree a deferred, extended or tailored payment plan that reduces anxiety and increases access to help. A better solution for suppliers trying to balance increasing debtor days, reduced staff availability and with a duty of care to increasingly vulnerable customer bases.
As a result of the coronavirus pandemic, consumers are experiencing increased financial stress at a time when the suppliers of their essential services are furloughing staff and reducing service availability. As a result, companies need to retain control of cashflow and customers need additional support and new options to help them get through a difficult time. Our innovative Virtual Debt Support Assistant seeks to address this need, simultaneously reducing the load on suppliers while providing a better, more caring experience for customers.
Comprising of programmable SMS chat leading to a personalised landing page with explainer video (personalised to the individual, the account in question and balance outstanding) and a series of 'intelligent decision tree' led screens allowing the user to reject / query the balance, pay, defer or configure a tailored payment plan, the innovative assistant reduces the anxiety of discussing outstanding balances, provides optionality for the user and sign posts additional help for those experiencing difficulty to pay. Fully integrated with supplier and agency core systems, accounts are updated real time removing the need for manual handling and reducing the likelihood of inaccurate and distressing customer communication.
Having built and tested the assistant the recently extended project sees the solution piloted in secure environments with UK utility and broadband suppliers in order to generate user and client benefit data with the objective of allowing wider adoption within an extended range of those client's customer touch points AND into further client instances within the sector.
As a result of the Coronovirus pandemic, customers across the country are feeling increased financial pressure as incomes are reduced and companies struggle to offer tailored debt support to customers during this difficult time.
A virtual debt support assistant focussed on helping customers experiencing difficulty to pay utility and other bills to verify their balance and agree a deferred, extended or tailored payment plan that reduces anxiety and increases access to help. A better solution for suppliers trying to balance increasing debtor days, reduced staff availability and with a duty of care to increasingly vulnerable customer bases.
As a result of the coronavirus pandemic, consumers are experiencing increased financial stress at a time when the suppliers of their essential services are furloughing staff and reducing service availability. As a result, companies need to retain control of cashflow and customers need additional support and new options to help them get through a difficult time. Our innovative Virtual Debt Support Assistant seeks to address this need, simultaneously reducing the load on suppliers while providing a better, more caring experience for customers.
Comprising of programmable SMS chat leading to a personalised landing page with explainer video (personalised to the individual, the account in question and balance outstanding) and a series of 'intelligent decision tree' led screens allowing the user to reject / query the balance, pay, defer or configure a tailored payment plan, the innovative assistant reduces the anxiety of discussing outstanding balances, provides optionality for the user and sign posts additional help for those experiencing difficulty to pay. Fully integrated with supplier and agency core systems, accounts are updated real time removing the need for manual handling and reducing the likelihood of inaccurate and distressing customer communication.
Having built and tested the assistant the recently extended project sees the solution piloted in secure environments with UK utility and broadband suppliers in order to generate user and client benefit data with the objective of allowing wider adoption within an extended range of those client's customer touch points AND into further client instances within the sector.
Lead Participant | Project Cost | Grant Offer |
|---|---|---|
| ONE ELEVEN CONSULTING LIMITED | £71,333 | £ 71,333 |
People |
ORCID iD |
| Chris Gauld (Project Manager) |