Financial Services

In times of economic uncertainty, prudent financial management is as important to financial services providers as it is to their customers. Both parties want the reassurance that their interests are being safeguarded and that matters are completely under control.

Our Financial Services expertise

Capita's customer management experience in financial services stretches back over four decades. The first service we ever provided was to the tailoring company, Hepworth's, for whom we managed a credit facility for customers. Since then, we have worked with some of the biggest names in the sector, one for over 12 years, and have developed a deep understanding of the sector challenges that they and their customers face.

Today, we have over 400 advisors, handling 2m multi-channel contacts for seven financial service clients annually, in highly regulated environments. Our clients include global and domestic brands, as well as providers of loans management, credit cards, car and retail finance. The services our clients trust us to provide include:

• Collection lifecycle
• Credit card activation
• Financial product sales
• Administration
• Customer services
• Customer retentions
• Correspondence handling
• Print and fulfillment services

As a client of Capita, you will come to understand how our depth of financial services experience will enhance and extend your operation, bringing multiple benefits. These include:

• Award-winning outbound customer contact planning strategies for optimum productivity
• A focus on customer experience and on maximising contact outcomes
• Development of recovery strategies based on debt segmentation, risk and predicted behaviour
• Management strategies for high-value customers
• A continually improving performance through state-of-the-art tools including planning models, diallers and our bespoke collections system.

Operations are housed in dedicated, branded, secure facilities and can be based either onshore, offshore, at client premises; or a combination of each.

Client successes

Below are just some of the successes we have achieved for clients recently:

Improved right-party contacts and conversion rates: Using a new data warehouse and demographic analysis, we create effective dialling strategies for all our clients, resulting in increases in right-party contacts of up to 40%, and in conversion rates by up to 20%. Our expertise in this area was recognised in 2010 with two wins at the Professional Planning Forum Contact Centre Innovation Awards.

Increasing amount of cash collected: One financial services client benefits from highly skilled advisors who regularly over-achieve against their cash collected target of £343 per dialler hour by up to 40%.

Strategies for 'can't pay' versus 'won't pay': In the last 12 months, one client has seen the number of debtors reduce to the lowest ever level.  We identify those that can't pay and seek to find workable solutions, using voluntary organisations, if appropriate, to help customers to manage their payments. Where customers won't pay, we have a range of strategies to ensure that the debt is pursued proactively; to litigation, if necessary.

Best practice sharing between global outsourcing partners: Having been recognised by one client as delivering the 'gold' standard of care that they wanted other outsourcers to emulate, we were invited to work with their other international outsourcing partners to share our best practice with them. Key to our success is the calibre of our people: selection and recruitment practices are the start of this success. Superb training and supervision, coupled with incentives focused on performance and morale ensure that our people are able to consistently exceed target KPIs.

"Over the tenure of our relationship Capita have constantly looked at ways to maximise the value of the portfolio through new ideas and innovative ways of working"  Director, Financial Service Client

Capita is authorised and regulated by the Financial Services Authority to undertake non-investment insurance mediation activity and is a member of the CIFAS National Fraud Database and Staff Fraud Database.