The quality of ID Collect communication with debtors has significantly increased

The quality of ID Collect (IDF Eurasia Group) communication with bank debtors has improved markedly over the year: they have become less likely to ignore calls from call center operators and more often talk about the reasons for the delay in payment on the loan.

According to ID Collect, the share of unanswered calls in the total number of telephone calls from debt collection specialists in the portfolio of a bank assignment (assignment of the right of claim on debt) decreased by 75% over the year. Debtors also began to drop calls at the beginning of this year 66% less frequently compared to the data a year earlier. Links to incorrect contact details and ignorance of the debtor (the third most popular reaction to the appeal in connection with a problem debt) also became significantly less – the share of responses from this category in the specified period decreased by 25%.

Debtors began to explain the reasons for the delay in payment more often and try to find a way to solve the problem. For example, in a conversation with a collection agency, problem borrowers began to request debt restructuring 3 times more often. At the same time, complaints about financial difficulties have increased markedly – the percentage of such responses has increased by 26% over the year. However, this does not prevent many of the problem bank borrowers from promising to pay off the debt – the share of such promises in communication with the call center increased by 66%.

This dynamic is explained by several reasons, explains Alexander Vasiliev, CEO of ID Collect. Firstly, more and more debtors receive information from open sources, from the websites of recovery agencies and other communication channels that it is beneficial to conduct a constructive dialogue in the current realities, as companies are increasingly offering debtors options for debt restructuring – installments, discount or a combination of these options. In addition, over the past year, debtors have much more options for interacting with claimants: they have access to almost all communication channels in the most popular messengers, the VK social network, in an online chat on the company’s website and in their personal account, so many customers initiate contact on their own, without waiting for a call center call. «The qualitative growth of communication is also reflected in other indicators: for example, over the year, the share of kept promises to make a debt payment increased by 10%,» Vasiliev notes. The psychological factor also works: during periods of economic uncertainty, the share of borrowers with overdue loans who want to get rid of a toxic debt load is growing: we observed such a trend during the coronavirus pandemic and are currently noting it. This attitude also affects the format of communication with the requester: communication becomes more meaningful.