Risk-based collections in the time of COVID-19, with Terry Franklin (Qualco)
How to Lend Money to Strangers
Brendan le Grange
4.9 • 43 Ratings
🗓️ 2 September 2021
⏱️ 35 minutes
🧾️ Download transcript
Summary
For a long time, collections teams tended to look a bit like government departments, where customers are assumed to have no alternative but to put up with the process they’re given. And not necessarily by choice. Fifteen years ago I was rolling out a collections training program for a bank in Africa, and we were speaking about the incredible role the function could play in relationship building even then, but the sad fact is that regardless of good intentions, investment often ran out before the collections department got to cash its cheques.
In today’s episode of How to Lend Money to Strangers I speak to Qualco’s Global Business Development Director, and twenty-year collections veteran, Terry Franklin, about how COVID-19 might just have been the bump many lenders needed to invest in making collections interfaces more interactive and more customer-friendly.
Joining our conversation to hear how the experts are shaping their collections teams, and leveraging the latest technology, to meet the challenges of delinquent debt in the time of COVID-19.
If you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me at brendan@howtolendmoneytostrangers.show
A full written transcript with timestamps can be found at https://www.howtolendmoneytostrangers.show/episodes/episode-07
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Transcript
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| 0:00.0 | Yeah, so I've had a blog of training material for a while the articles on wrist-based collections are really popular |
| 0:06.9 | So you popped into my mind in terms of sort of experts on collections |
| 0:10.1 | Welcome back to how to lend money to strangers. I'm your host Brendan Lagrange |
| 0:33.4 | This is your first episode. I'm afraid I can't always promise you the sexy gravely voice |
| 0:38.1 | I am coming off the end of a little cold |
| 0:40.5 | But hopefully I can promise you interesting content about lending across the credit life cycle and around the world |
| 0:47.3 | When I first became a consultant I spent some time writing out a series of articles |
| 0:52.2 | primers on some of the key topics of credit risk strategy and I put them up on a blog which I've left rather unattended for the last decade or so |
| 1:00.9 | During that time, it's amassed about a quarter of a million reads across a range of topics |
| 1:06.0 | But the most popular are consistently my articles on heart-a-bull-to-profit model |
| 1:11.3 | the sort of topics I discussed with Graham Wittley in episode two |
| 1:15.2 | And my articles on wrist-based collections which are the sort of topics I'm discussing today with Terry Franklin |
| 1:22.1 | Terry is the global business development director at Qualco |
| 1:25.3 | But he has more than 20 years of experience in credit risk a large part of that spent in collections |
| 1:30.6 | Terry has worked across Europe and Asia and so brings a wealth of experience to this discussion |
| 1:37.2 | We talk about |
| 1:38.9 | modern strategies for wrist-based collections |
| 1:41.3 | And in particular we talk about how COVID and the world's reaction to it have forced some really positive changes in the world of collections |
| 1:49.1 | Join me in a second for that |
| 1:50.6 | But yeah, if you can sort of start a little bit of background of your |
| 1:54.2 | entry into risk |
| 1:56.0 | What you're doing now and where you've touched on collections? So |
... |
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