In 2018, national debt in the United Kingdom was around 2.36 trillion U.S. dollars. With Statista projecting that this will rise to 2.77 trillion by 2024, it should come as no surprise, that banks and councils are increasingly willing to offload debts to debt collection agencies.

However, even debt collection agencies are struggling with the increasing demand, with 81% of finance professionals reporting that it is taking longer and 85% stating that it requires more resources.

Often one of the greatest challenges and pain points associated with debt recovery is the ability to converse with the customer. As such, the chosen communication channel can have a huge impact on the success of the debt collection.

95% open rate

38% increase in customer engagement

32% conversion rate