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What role for humans in the future of collections?

25 Apr, 2018

The DBC for Collections Live Debate was held on Wednesday 25th April 2018 at the Law Society, London.

What role for humans in the future of collections?
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In collections, AI is now a vital tool to improve customer experience (CX) and increase process efficiency.

Nevertheless, the emergence of machine-learning and automation leaves questions over the future for agents, managers, analysts and others.

The Digital Banking Club, on 25 April 2018, discovered how businesses need to prepare for an AI-driven world – and not get left behind.

 Key discussion areas included:

  • What is the art of the possible with AI? What is fact? What is fiction?
  • Can AI deliver a better collections performance?
  • Can a chatbot or virtual assistant really offer a better CX?
  • Can this technology identify and support vulnerable customers?
  • What does the long-term future hold for agents?

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:

  • Martha Bennett, Principal Analyst, Forrester Research
  • Stuart Sykes, Group Customer Operations Director, MyJar
  • Terry Cordeiro, Head of Product Management, Lloyds Banking Group
  • Simon Cadbury, Director of Strategy, Marketing & Innovation, Intelligent Environments 

Location

The Law Society, London WC2A 1PL

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.

Martha Bennett

Martha Bennett

Principal Analyst, Forrester Research

Martha serves CIOs and other tech leaders, helping them understand the impact of emerging technologies on their business. Martha provides in-depth coverage of blockchain technology and business intelligence (BI), as well as analytics and artificial intelligence at a strategic level. In her blockchain research, Martha focuses on demystifying this emerging technology, helping CIOs and strategy teams identify appropriate use cases and navigate the broad ecosystem of startups and established providers offering software and services. In her BI research, Martha analyzes the effect of emerging technologies and business pressures on the way BI capabilities are managed and delivered, and she helps CIOs and their business partners develop data and analytics strategies fit for the digital age.

Stuart Sykes

Stuart Sykes

Group Customer Operations Director, MyJar

Cross border experience in Collections and Fraud setting up and auditing these particular departments to ensure staffing and use of technology is optimised to the fullest. UK, EU and Asian (India) experience in Collections, Fraud and Processes ensuring that UK and EU financial institutions are optimising all their potential capabilities. US experience also gained advising Collections and Fraud shops on best and better practice, cost savings made throughout these engagements. Further experience advising a secured and unsecured collections shop in South Africa for a global brand. Current Board Director of the Technology Stream of the Credit Services Association.

Terry Cordeiro

Terry Cordeiro

Head of Product Management, Applied Science and Intelligent Products for Group Transformation, Lloyds Banking Group

Terry is currently Head of Product Management, Applied Science and Intelligent Products for Group Transformation at Lloyds Bank and leads the development of the Group’s Cognitive Platform. He is passionate about Digital, Product Management, Innovation and Design with over 20 years Product Management experience in designing and building products and mobilising product teams in telecoms, government and banking sectors. Voted one of the 50 most innovative and powerful people in European Digital Financial Services by his peers of the Digital Banking Club in 2015, 2016 and 2017, he is also co-author of the FinTech Book, the world’s first crowd sourced book on the subject. Terry is a regular conference speaker on topics such as Artificial Intelligence, Product Management and Customer Experience.

Simon Cadbury

Simon Cadbury

Director of Strategy, Marketing & Innovation, Intelligent Environments

Simon is a product marketer and strategist with 18 years’ experience working for a range of major international brands. Simon’s role is to work with Intelligent Environments’ investors to set and deliver the company’s mid and long term strategy, as well as overall responsibility for the product development and management of Interact; the company's core product offering. Simon joined in 2013 from Lloyds Banking Group where he was responsible for payment technology and also sat on the Credit Card divisions leadership team. Prior to this he worked on the launch of a number of firsts in new technology – the Blackberry (BT Cellnet), BT Openzone (BT Retail), 3G Live! (Vodafone Australia) and Sky HD (BSKYB).

What role for humans in the future of collections?
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