Blog & Insights
In Their Own Words: Customers’ Thoughts on Katabat
We’re happy to tell you about how Katabat has been trusted by leading lenders for more than 15 years. But some of you may want to hear about the product from actual customers. So, in this blog post, we’ve compiled comments and feedback from actual Katabat users.
Let’s take a look at what they had to say.
humm group serves more than 2.7 million customers throughout Australia, New Zealand, the United Kingdom, and Ireland. It provides innovative, accessible consumer finance products to purchase the things they want and pay for the things they need.
When the COVID-19 pandemic hit, and economic hardship relief programs were introduced, humm group knew that it needed to deploy an automated intelligent workflow and decisioning system so its agents weren’t swept up in a tsunami of phone calls.
Using Katabat’s robust configuration controls and its Strategy Engine, a custom solution was created for humm group. The basic design elements included:
- User-friendly front-end: Converted official paper documents into digital forms that walked the user through the process of filling out hardship applications.
- Branding by product: The environment for each specific type of financial service would have the same look and feel, helping users feel more comfortable.
- Automated workflow and decisioning: Combined powerful decision tree and workflow capabilities in one unified platform, making it fast and easy to design unique and interactive customer experiences.
humm group has enjoyed multiple benefits since deploying Katabat, including:
- Enormous time savings for agents
- Ease of use for customers and agents
- Enhanced customer engagement
- Increased flexibility
- Seamless flow of information
- Auditability of all actions
- Forecasting lower write-offs
“Our customers really appreciate our automated workflow and decisioning. This makes it a double win, because the automation makes life easier at our end as well,” said the Head of Collections Strategy at humm group.
Capital Services is a family-owned payment portfolio management and servicing company that creates, evolves, and services credit card programs in partnership with its clients. Focused on generating sustainable financial strength, the company has more than 1 million accounts under management.
Wanting to provide more ways to serve its cardholders, Capital Services sought a digital strategy solution to help it expand beyond traditional telephone contacts to embrace texts and emails.
“Great software! Very easy to create strategies and flows with this very flexible system.”
Capital Services chose Katabat for account segmentation and designing an omnichannel communication strategy. Katabat gives Capital Services agents visibility into omnichannel messaging, to help them determine the most effective communication tools to use—while not exceeding their internal and industry best practices.
Capital Services has enjoyed numerous benefits since deploying Katabat, including:
- Flexibility for segmentation
- Frictionless, self-service payments
- A 33% decline in payments made through agents
- A 122% increase in payment rates using email instead of dialing
- Ease of deployment
- Anticipated “significant ROI” and “millions in savings from reduced charge-offs”
“I actually sat there on the first day, updating my real-time reports, constantly watching the growing number of payments we were receiving from the portal,” said an Operations Risk Manager at Capital Services.
This client provides online credit to customers and banks in the United States who are poorly served by traditional banks and who seek alternative options to very high costs of credit. It has originated nearly $10 billion in subprime credit to more than 1 million consumers. Its online credit solutions provide relief to subprime customers. The company also provides free financial training and free credit monitoring.
This client was looking for a customer-centric, end-to-end omnichannel debt collection platform.
“We looked at several options, but felt that Katabat was clearly the best platform because it is a truly integrated platform that completely meets our needs,” said the client’s Director of Product Management.
The client used Katabat to create and manage its communication strategy, using email, text messages, and letters to augment its traditional voice calls and to communicate with customers. It then rolled out a self-service channel, using emails, letters, and text messages to drive customers to the self-service website where they see offers and make payments online. Then it added an agent portal.
“Straightforward integration with multiple legacy systems and easy for operators, analysts and agents to learn and ramp up to produce results.”
Katabat has provided the client with such a powerful toolkit that it has expanded its use of the platform beyond delinquent accounts, to enhance service to all its customers.
Our client has enjoyed several benefits since deploying Katabat, including:
- Speed and flexibility to respond to market changes
- Marketing power of omnichannel communication
- The power of self-service
- Reduced delinquencies with microsegmentation portfolio management
- Streamlined processes with Katabat automations
- Better agent experience
“We’ve seen a consistent drop in delinquencies since deploying Katabat,” the client said.
There you have it
That’s just a few examples of how customers have benefited from Katabat. After hearing from these customers, does it sound like Katabat could benefit your organization?
It seems like our customers would tell you “yes.”
If you want to learn more about how Finvi can help collections and recovery organizations, download our latest eBook.