Akinika, part of the Capita Group, is one of the UK's leading debt collection Agencies. They asked TransUnion (formerly Callcredit) to help improve the quality of their contact data and subsequently their right party contact rates.
Authorised and regulated by the Financial Conduct Authority, Akinika specialise in consumer and commercial debt collection and act on behalf of a number of public and private sector clients including HM Revenues & Customs, TV Licensing and the Department for Work & Pensions.
Their role is to responsibly engage with their clients' customers to resolve financial issues and outstanding balances, helping those customers to start hopefully becoming debt free.
Akinika wanted to establish the best possible way to talk to more of their customers. They needed to improve the quality of their customer contact information such as addresses and phone numbers so that they could reach out to them much more effectively.
"The main issue we had was the quality of information that allows us to contact a customer - the quality of our addresses and telephone numbers," Chief Operating Officer, Akinika.
Consultants from TransUnion spent time with the team at Akinika, looking at every aspect of their business. From the loading of a customer through to the closing of an account, TransUnion ensured they understood Akinika's clients and their customer journeys.
By looking at Akinika's processes, technology and data, the team identified where improvements could be made, and produced a detailed roadmap for Akinika to help them implement the changes in a phased approach.
"What stood out was how TransUnion could enhance our contact data, and also how they could provide us with new, highly confident addresses." COO, Akinika.
Through the partnership TransUnion were able to clean and enhance Akinika's customer addresses and phone numbers, enabling them to improve their contact rates and call centre efficiencies.
"We immediately started to see a change in our incoming calls from the increased quality of our addresses, so we've been able to improve our right party contact rates on some clients by up to 25%". COO, Akinika
Akinika also immediately started to see a reduction in their lettering costs, thanks to the strategies they were able to implement after working with TransUnion.
"It's set to be a very strong and exciting year for Akinika, because of the changes we've made and our ongoing partnership with TransUnion." COO, Akinika