With full visibility into customer interactions, the company improves efficiency while reducing fraud and compliance risk
This leading debt relief company is focused on providing financial assistance and solution options to hundreds of consumers that are looking to reclaim their financial freedom. In an effort to better serve clients, the company needed to improve operational efficiency and mitigate compliance risk, which represented staggering potential revenue loss—up to $15M industry-wide, according to Ascent.
✅ Reducing overhead costs. The company reduced the amount of budget that went towards managing manual operational tasks. Faster processes led to a 62% reduction in overhead costs, which freed up budget for upskilling & hiring for more strategic roles.
✅ Mitigating compliance risk. With full visibility into customer interactions, the company was able to improve compliance monitoring efforts by 97%, curtailing litigation costs, reducing compliance breaches, and preventing revenue loss.
✅ Empowering teams to work smarter. With the help of Observe.AI’s automated workflows, the company's teams can complete the same amount of work in less time, with higher accuracy, and in a single platform. As a result, the company's Quality teams have been able to improve output by 2x, running 14,000 Quality evaluations per month instead of 7,000 that were completed before bringing on Observe.AI.
“No one wants to talk about debt, but I look forward to a day when it’s no longer a taboo subject,” said the company's VP of Quality & Communications. “Using Observe.AI gets us closer to that end goal of helping more individuals get out of debt sooner without spending too much time on the phone managing their debt problems.”