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What disruption will the advent of digital technology bring to the collections industry?

28 Mar, 2017

The inaugural DBC for Collections Live Debate was held on Tuesday 28th March at the Law Society, London.

What disruption will the advent of digital technology bring to the collections industry?
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At our March DBC for Collections Live Debate our panel discussed "What disruption will the advent of digital technology bring to the collections industry?" Where will traditional collections methods be supplanted by the digital revolution – and where can they work alongside digital to mutual benefit?

Read about the Live Debate and download the opinion piece by Randolph McFarlane now.

While many organisations are enthusiastic to bring digital transformation to their collections operations, opinion is divided on whether this change should take the form of evolution or revolution.

In this Debate, collections experts in the midst of adopting digital strategies discussed their visions of the future.

The discussion covered issues including:

  • Is there a future for traditional telephony and direct mail collections?
  • Champion vs Challenger – what is the case for digital interaction compared with the traditional call and collect model?
  • How can digital allow for optimisation in deployment of traditional channel communications?
  • Can organisations reap the scalability benefits of a self-serve digital offering while still deploying traditional channels where most suitable?
  • Cost reduction vs better customer outcomes – where is the balance of benefit?
  • How will the FCA’s indicts of December 2016 factor into developing debt recovery strategies?

Our panel for this debate: 

The debate was chaired by Fred Crawley, Consulting Editor, Credit Strategy and Chair of the DBC for Collections. Joining Fred were:

  • Derek Usher, Managing Director, Cabot Credit Management
  • Paul Stretton, Head of Debt & Credit, Extra Energy
  • Sam Taylor,  Customer Services Manager, Moneybarn 
  • Randolph McFarlane, Head of Partnerships, Intelligent Environments

Read about the Live Debate and download the opinion piece by Randolph McFarlane now.

Derek Usher

Derek Usher

Managing Director, Cabot Credit Management

Derek Usher is the Managing Director, UK Debt Purchase for Cabot Credit Management (CCM), the UK’s leading credit management service provider. He is responsible for ensuring CCM’s debt purchase business continues to lead the UK market, driving it forward onto the next stage of growth. Derek is focused on leveraging Cabot’s customer-centric approach to build strong customer relationships, combined with advanced data analytics and technology to deliver the growth strategy. Derek joined CCM in February 2016 after 4 years at Travelex as its Global CIO where he was responsible for managing global IT services across 26 countries. He has over 25 years experience in the financial industry and has held a variety of roles including Integration Director (Lloyds Banking Group), Head of IT and Head of Risk Operations (HBOS Retail). Derek is a chartered accountant, achieving an ACA qualification in July 1989.

Sam Taylor

Sam Taylor

Customer Services Manager, Moneybarn

Sam manages the Customer Service department at Moneybarn and is responsible for the servicing of all ‘In Life’ Motor Finance agreements. With a focus on curing ‘Early Arrears’ and working with each customer support them through short or long term affordability challenges, Sam’s team is focused on helping each customer stay in their vehicle. Prior to joining Moneybarn, Sam worked in the Collections industry for ten years, occupying Operational Management, Project Management and Solution Delivery roles.

Fred Crawley

Fred Crawley

Consulting Editor, Credit Strategy and Chair of the DBC for Collections

Fred Crawley is consulting editor at Shard Media Group, where he works across a number of brands including Credit Strategy, Credit Week and the Credit Awards. A specialist in B2B communications with nine years’ experience as a journalist and editor, Fred works across Shard’s publishing and event brands to shape publishing strategy, develop and deliver multi-platform projects for clients, and produce high-impact written and live content. He also heads up Shard’s presence in the Car Finance market, where he has been a well-known commentator and speaker for a number of years. In 2016 he launched the Car Finance Conference & Awards, held this year in Nottingham on June 8th. Prior to working at Shard, Fred was group editor at Timetric, where he had responsibility for publications in asset finance, motor finance and professional services. He graduated from Pembroke College, Cambridge in 2005 after studying natural sciences, and had a brief career in education before working in publishing.

Randolph McFarlane

Randolph McFarlane

Head of Partnerships, Intelligent Environments

Randolph McFarlane is Head of Partnerships at Intelligent Environments, where he leads a team focused on growing the company’s partner eco-system. Established 1985; Intelligent Environments has been dedicated to financial services for over 17 years, giving their clients innovative and secure digital mobile and online solutions. Recognised thought leaders in customer experience and engagement, their single software platform Interact is the class leading system of engagement to any debt system of record. (e.g. Experian Tallyman, FICO Debt Manager). Randolph joined IE from Visa Europe where he had pan –european responsibility for the establishment and delivery of their ‘direct to market’ business model for Commercial Cards. Prior to this he was Global Business Development Director for KDS and was successful in the securing of strategic partnerships including AirPlus, Societe Generale, BNPP and Mastercard. He has also held a number of senior roles across the American Express Global Corporate Payment business, being an American Express ‘Hall of Fame’ entrant and President Club winner. With a 1st class Honours degree in Business Studies achieved from London Metropolitan University, Randolph can also count Spendvision, Rank Xerox, Compaq and Computacenter amongst his former employers.

Paul Stretton

Paul Stretton

Head of Debt & Credit, Extra Energy

Paul has been working in the Utilities industry for 12 years and was the 9th person to join Extra Energy in October 2013 as a credit risk analyst. During his Extra Energy career he has created the credit risk policy and strategy for both domestic and SME. This role has since expanded to include Cash Operations, Revenue Protection and in 2015 collections and third party recoveries. Paul was also voted in the Utilities and Telecoms Top 50 and Credit 100, an award that recognises the leading professionals who have had a positive impact on the credit and collections industry in the past 12 months

Cards International
Credit Strategy
Electronic Payments International
Life Insurance International
Motor Finance International
Private Banker International
Retail Banker International

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