Why self-service is so important
One of the biggest issues that the debt collection industry has always faced is the inability to reach customers. Missed calls and busy schedules make it difficult for many to pay off their debt, despite the desire to do so. Adding another twist to this already challenging process: the shift of communication preferences. From Baby Boomers to Generation Z, the majority of Americans would prefer to be reached via email or SMS text rather than a phone call.
At the end of 2016, MRS launched customer email communications. The following year, webchat and text went live. In the early months of 2018, MRS also launched a virtual collections agent called Adam. There is a website payment portal that customers may also choose to use. A phone call is not the easiest pathway for everyone so MRS pioneered many proprietary solutions to center around multi-channel communication. After launching this service, MRS has seen the impact of offering a variety of channels.
Over 3,500 payments have been collected from the multiple platforms including text, email, and online chat. MRS’s virtual agent Adam has collected over $800,000 with no human involvement. Additionally, the platform has fielded calls for over 20,000 customers. Multi-channel can also assist for call overflow and during closed hours so that MRS is available for whenever is most convenient for the customer.
MRS is dedicated to creating solutions that benefit clients and customers alike. Executive Vice President of Sales and Marketing Misty Carson says, “The MRS Team has invested heavily in technology, talent and resources to create disruption in the industry with new multi-channel communications strategies. We also ensure that we meet the rigor and demands of our industry and that all of our multi-channel solutions are fully compliant with the TCPA/FDCPA.”
The solutions that MRS develops in house pair well with the progressive communication approaches that clients take. The company strives to make the most compliant, user friendly, and integrative technology so that the customer has the freedom to choose which payment channel works best for them. Carson say, “Our industry is in the midst of evolving in ways geared towards communicating with customers on their terms, not ours.” MRS is certainly more than up to the task and continues to innovate for the customer and client.
MRS understands that making more convenient communication channels benefit all parties involved. Dedication to technological advancement and compliance excellence propel the company to innovate and create. Self service payment options are part of the future of debt collections and MRS seeks to make the evolution seamless for customer and client.