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Kiwibank

Financial Services

Kiwibank's Transformation Journey with 365 Collect

Kiwibank, a powerhouse in New Zealand’s banking sector and the largest NZ-owned bank, recently embarked on a mission to revamp their debt collection process. They reached out to us at 365 Mechanix, and together, we’ve supercharged their debt collection solution. This case study walks you through the challenges we tackled, the solutions we crafted, the process of bringing those solutions to life, and the impressive outcomes we’ve seen.

 

The Challenge

Kiwibank came to us with a clear mission: they needed to upgrade their debt collection process. From managing arrears across a diverse product lineup to consolidating collection data and cutting down on manual labour, we were ready to deliver a solution that raised the bar for efficiency and customer service.

 

Our Solution

We introduced Kiwibank to our 365 Collect solution, a state-of-the-art platform designed to automate arrears management and provide a comprehensive view of collection data. Our solution included:

– Consolidated Collection Data: A unified platform offering a complete, up-to-date view of all collection data.

– Automated Arrears Management: Automation tools designed to streamline arrears management across Kiwibank’s varied product range, significantly easing the manual workload.

– Enhanced Customer Service: Advanced tools and insights that enabled Kiwibank’s agents to deliver top-notch customer service, boosting customer satisfaction.

 

Implementation Process

Our partnership with Kiwibank was marked by close collaboration and a deep dive into their unique business needs. We adopted an iterative process to minimise risks and ensure high-quality outcomes. Our approach included:

– Thorough Assessment: Starting with a deep understanding of Kiwibank’s business workflow to identify key improvement areas.

– Iterative Development: Using an iterative development process to fine-tune the solution to Kiwibank’s exact needs.

– Continuous Collaboration: Keeping the lines of communication open with Kiwibank throughout the project to quickly tackle any challenges and secure the solution’s success.

 

Results

The rollout of our 365 Collect solution has truly transformed Kiwibank’s collection process by:

– Providing a unified, real-time view of collection data, enabling better decision-making.

– Significantly reducing the manual effort needed for managing arrears, thus boosting operational efficiency.

– Improving the customer service experience with better insights and automation.

 

Overcoming Challenges

Customising the collection strategies to match Kiwibank’s diverse product offerings was a complex task. However, our team rose to the occasion, tailoring the solution to ensure a smooth and efficient collection process across the board.

 

Continuous Support

Our commitment to Kiwibank goes beyond the successful implementation of the 365 Collect solution. We’re continuously working to provide ongoing support and enhancements to the system, aiming to further streamline and improve their collection process.

 

This collaboration between Kiwibank and 365 Mechanix showcases our ability to leverage innovative technology to tackle complex business challenges head-on. The success of the 365 Collect solution in transforming Kiwibank’s debt collection process is a testament to our expertise in delivering solutions that not only meet but exceed our clients’ expectations. At 365 Mechanix, we’re dedicated to helping our clients achieve their business goals with cutting-edge solutions and committed support.