& Recoveries                

Simplifying and streamlining the collections process for both collections' agents and their customers

The collections process is beset with inefficiencies. DirectID’s Collections & recoveries solution uses bank data to allow collections agents to fully understand their customers financial position, and therefore decide on a repayment plan suitable to both parties.

How it works           

  1. An applicant goes through the consent process, agreeing to the terms on the DirectID widget
  2. The applicant selects their bank and then logs into their internet banking, authorising their bank to share their data
  3. The collections agents are given a snapshot of the customer’s financial position, provided by our DirectID Insights tool
  4. DirectID tabulates all the pertinent data, so that income, outgoings, disposable income and other critical information is all displayed for the agent
  5. The collections agent is able to make a decision on repayments based on their discussions with the customer, and their insights into how much disposable income the customer has each month

Operational Benefits

Key Features

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Collections & Recoveries Product Sheet

Get all of the technical details and commercial applications of DirectID Collections & Recoveries in our detailed 8 page document, ready to print or share with your team.

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Partnering with DirectID

A solutions provider to UK local authorities partnered with DirectID to streamline the collections process for local councils. The current process, built upon paper documentation and phone calls, was neither efficient nor pleasant for any party involved.

By partnering with DirectID, local authorities were able to remove the friction within this process and found that using bank data was infinitely more efficient in assessing a debtor's affordability. As the DirectID Collections & Recoveries solution aligns with the SFS categories, local authorities can continue to assess repayment potential based on the universal income and expenditure statement.

Associated Products:

- DirectID Collections & Recoveries

Calculated Income

Collections & Recoveries is based around one key calculation – a Monthly Affordability figure. ​​To work this out, we first need to understand how much income a customer receives. By incorporating our Income Verification tool, we have our base value to work with.

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Never Compromise on Customer Insight

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