“After conducting a comprehensive on-site assessment of our technology, operational processes, customer interactions, compliance measures, and information security, we are delighted to announce that Opos Limited has achieved the distinction of being the first collections and recoveries provider to become Arum Approved.
We are particularly gratified that Arum singled out our utilisation of technology as a standout aspect of our service. Their report also provided us with invaluable insights into areas where we can enhance our service delivery. To this end, we have initiated a live project aimed at implementing these improvements by year-end.”
Scott Dawson – Managing Director and Owner, Opos
The challenge
Opos are a well-established and respected debt collection agency. They are continually assessing and improving their services to clients and their customers and so wanted an independent assessment to drive out more areas of opportunity to improve.
Arum used their Arum Approved Servicer framework to undertake this assessment. This framework assesses a service provider’s capability across a wide range of areas and considers their performance in relation to the service provided to direct clients, the customers of its clients and its own performance.
The solution
Arum reviewed the below focus areas. Over a period of three weeks, one of Arum’s experts worked with the Opos team and finalised a report of observations and recommendations.
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Client
- Onboarding
- Strategy selection
- Client rules management
- Performance meetings
- Standard / Customer reporting
- Services
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Customer
- Vulnerability
- Affordability assessment
- Arrangement agreement
- Breathing space
- Good outcomes
- Complaint management
- Queries & disputes
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Organisation
- Policy and compliance
- Consumer Duty and other regulatory compliance
- Learning & development
- Continuous improvement
- Culture
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Strategy & analytics
- Segmentation
- Strategies / duration / contact / no contact / escalation
- A:B testing
- Data availability
- Data quality
- Use of analytics / ML
- Client bespoke strategies
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Operational delivery
- Forbearance
- Dialler management
- Off system processes
- Capacity planning
- 3rd party management (if applicable)
- Quality assurance
- Process management
- Admin
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Technology
- Collection system functionality
- Use of available channels
- Technology gap analysis
- Automation and self-serve
- Digitalisation
- Use of AI / ML
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Performance management
- KPI review / definitions
- Operational / portfolio reporting
- Use of MI to drive decisions
- 3rd party performance
- Productivity
- Strategy effectiveness
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The results
Opos received the following benefits from their review:
- Comprehensive observations documenting how the Opos service meets the needs of the market
- Valuable insights into how Opos can further enhance service delivery
- Ability to use the “Arum Approved” branding in their marketing collateral to demonstrate their accreditation
- Opportunities to gain further market exposure through promotional activities with Arum