We’re delighted to announce that Esendex won the Credit Service Association award for Innovation at the CSA Awards 2021. The award recognises companies that have demonstrated high levels of creativity and innovation in adapting to the ever-changing and volatile debt collection environment over the past two years.
Esendex has worked tirelessly to provide Debt Collection Agencies with customer-centric, streamlined, and empathetic debt recovery solutions. To be recognised for our efforts by the CSA, a trade association for debt collection and the debt purchase industry, is a great honour.
The award ceremony, held in conjunction with the UKCCC exhibition 2021, is a flagship annual event for the collection and debt purchase sector. The event brings together professionals from the collections and wider credit industry to discuss the most prominent challenges firms and their customers face.
Thanks to the hard work and dedication of the event organisers, the exhibition was a huge success, welcoming a wealth of delegates from all areas of the industry, ensuring learnings from the past 24 months could be shared.
The state of the debt collection landscape
The pandemic has turned the global economy on its head. 23% of the UK population are now living in poverty, and economists predict a sharp rise in household debt as Government initiatives like the furlough scheme, designed to help those with reduced working hours, come to an end.
For many, this is the first time they have ever been in arrears. Research shows that financial difficulty directly correlates with mental wellbeing, with 86% of those struggling with debt state that they are suffering from moderate to severe mental health issues. Additionally, 72% of people suffering from mental health problems said their financial difficulties were worsened by poor mental health.
Companies must act ethically and empathetically when dealing with their customers. There is no one size fits all approach to effective debt recovery in a post-covid era. Instead, agencies need to be agile and responsive to the needs of their customers to build sustainable and successful strategies.
How can Esendex help?
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Esendex works closely with companies who wish to become more empathic and successful in their approach to debt recovery by combining personalised, flexible, and automated communication that empowers customers to engage with advisors in a discrete, low-pressure environment.
Find out more about our debt recovery solutions here.