Credit Strategy awards Arvato Financial Solutions' consumer-oriented debt collection services
Glasgow - December 22, 2021 - Arvato Financial Solutions has been honoured by Credit Strategy for its consumer-focused debt collection. The award centres on an outsourcing project in which the company took over 100 employees during the height of the pandemic while expanding the financial services provider's field service offering.
At the Vulnerability Awareness Gala, Arvato Financial Solutions received the Utilities & Telco Award in the category "Best Outsourcing & Partnership Initiative of the Year." In the midst of the Corona pandemic, the financial services provider had taken over around 100 employees from the field service team of a major energy provider and smoothly integrated them into its own organization. "I am proud of our team. Through targeted training programs and our modern process and reporting tools, we managed to integrate the customer's entire field team. At the same time, we succeeded in keeping the service for consumers stable and expanding it," says a delighted Debbie Nolan, Local Unit Lead UK, at Arvato Financial Solutions.
As a result, when in summer 2020, after the end of the lockdown, the number of outstanding energy bills in the UK increased significantly, the team was able to contact 160,000 customers within four months and helped them to settle their claims. "We were able to help people during a very difficult period," Nolan said. Credit Strategy's judges were impressed with the integration project, just as Arvato Financial Solutions managed to significantly expand its support for those financially affected by the Corona pandemic.
Personal contact with consumers prior to initiating debt collection processes is a legal requirement in the UK and central to Arvato Financial Solutions' move towards a more consumer-focused approach to debt collection. The specially trained field agents discuss solutions with consumers on site and in person in order to settle outstanding debts. "The award encourages us to find individual solutions for outstanding receivables in the interests of consumers and our clients. We will consistently pursue this path," Nolan sums up.
About Arvato Financial Solutions
Arvato Financial Solutions provides professional financial services to renowned international brands as well as respected local businesses — allowing them to leave their credit management to a professional, so they can focus on what matters most for their business.
The services centre around cash flow in all segments of the customer lifecycle: from credit risk management to payment, factoring and accounting services to debt collection.
The Arvato Financial Solutions team is made up of around 7,000 experts in 15 countries and is aligned by a common goal: to make sure client’s credit management runs effortlessly and efficiently, ultimately resulting in optimized financial performance.