ROTTERDAM, 29 July 2021 – Troy, a top debt collection agency based in Germany, has tapped Mi-Pay to power its new automated voice reminders strategy. The implementation will enable the debt collector to reduce overhead costs and improve its collection results.
For debt collection agencies, the dunning process is a delicate balancing act between getting results quickly, balancing the costs required to do so and keeping customers satisfied. German debt collection companies, in particular, are now subject to the new Inkassorechtsreform which sets limits to the types and amounts of fees that were traditionally charged.
This has led to a tightening of margins and a need for improved efficiency.
Troy introduces automated voice reminders
The best way to reduce costs while enhancing efficiency and boosting customer satisfaction all at the same time is through the implementation of automation in the debt collection process.
As a leading provider of automated reminder tools, Mi-Pay is now providing Troy Germany with the ability to send out automated voice reminders. Automated voice reminders are high definition voice calls spoken with a natural, friendly voice. While on the call, the debtor is informed of all the relevant information concerning the outstanding payment and presented with a range of payment options.
By implementing voice reminders, Troy is minimizing the high overhead cost of having a fully staffed call centre placing manual calls all day. At the same time, automated voice calls improve customer satisfaction, as customers find it more pleasing to listen to a calm voice rather than having a discussion with a live agent. What’s more, if the timing of the call is inconvenient, customers can simply end the call, without feeling guilty. Making sure customers are willing participants in the debt collection process goes a long way towards reducing the need for more expensive (manual) dunning activities.
Project manager Dennis Wever on the implementation: “Since we want to achieve an optimal customer experience in all channels, we evaluated a variety of possible technology partners for automated outbound and finally decided on Mi-Pay. The deciding factor was the ability to access the service in real-time via API. This allows us to continuously optimize the process on our side with machine learning.”
Fabian Wolf, who is responsible for customer experience and brand, sums up, “After sending the first 10,000 voice messages, we can see that payment rates and customer satisfaction are increasing. These successes motivate us to adopt automated voice messages as an integral part of the troy_experience and further to optimize them continuously.”
“We’re proud to be part of Troy’s journey to provide debtors the best possible customer experience” says Michael Martens, Head Revenue Ambassador at Mi-Pay. “Our mission to provide humane dunning solutions and Troy’s focus on customer friendliness are a perfect match. We hope our partnership can continue far into the future.”
About Troy & Mi-Pay
Troy is a Venture Capital-backed debt collection FinTech that offers friendly debt collection as a service to category leaders in Telecommunications, Insurance, Publishing, Utilities, and eCommerce. The company does so by turning debt collection into a positive, customer-friendly experience. Troy employs top-notch full-stack developers who work alongside first-class industry specialists to create the debt collection world of the future.
Mi-Pay offers best-in-class payment solutions and consultancy services trusted by market leaders. Mi-Pay services include payment reminders, fraud protection tools for online transactions and custom prepaid top-up platforms. From its offices in London and Rotterdam, Mi-Pay has built a proven track record that spans decades and multiple geographies.
