Advancing automated, empathetic and seamless collections

Seeking financial and digital expansion

Since its founding two years ago, Bankaya has grown into a leading Mexican financial services company. It has innovated its business model to sell home appliances and cell phones through credit in 330 brick-and-mortar stores.

It recently implemented a “buy now, pay later” platform that allows customers to get installment credit through the Bankaya app and in the physical stores — avoiding the costs associated with collection employees.

But the growing customer base resulting from this new collection strategy presented a challenge for Bankaya: establishing a solid collection strategy and finding a new contact center solution that would allow them to overcome the limitations in telephony, along with the difficulty in uploading outbound campaigns and the lack of customer visibility throughout their journey with the provider they had.

Choosing the right partner

After a competitive cost analysis, Bankaya decided to deploy the Genesys Cloud solution provided by Crossnet, a leading Genesys partner, in its collections department. “I had meetings with other omnichannel platform vendors, but I chose Genesys because of the costs,” added Soria. “It adapted to my needs, while providing significant cost savings.”

With Genesys, 14 agents can now handle customer requests effectively through inbound/outbound voice and email channels. Genesys capabilities have enabled Bankaya to track its response times, contact attempts, multiple dialing, collection of overdue payments and agent productivity.

A seamless migration

The company opted for a gradual migration path to minimize technical errors, while also integrating its database and dashboard reporting capabilities to achieve complete visibility of the customer journey.

“We were up and running in less than a month,” said Soria. “The Crossnet team provided invaluable support, and we were there to see how the process evolved as well as any potential issues that could arise.”

Bankaya was able to quickly integrate new functionalities, such as Genesys Workforce Engagement Management. “In terms of agent training, it’s a user-friendly and easy-to-navigate tool,” said Soria. “It took us a little longer, between a month and a half and two months, to work out administrative issues, such as implementing campaigns and solving supervision issues.”

Outbound: The key to better service

Genesys Cloud has automated several important processes and flows at Bankaya — driving customer service and agent productivity.

By training leaders and agents, the contact center collections unit has increased the contact rate by 20%–40%, while achieving a fourfold increase in the collection of overdue accounts with the same number of agents.

“In the past, we couldn’t contact the entire customer base with our existing agents because we relied heavily on manual dialing,” concluded Soria. “Today, we can contact our full collections portfolio two-and-a-half times on average.”

Additionally, contact center availability improved by 20% thanks to Genesys Cloud Workforce Engagement Management.

Experimentation, integration and expansion

The results obtained so far are very positive, and Bankaya expects to continue growing this year by undertaking a complete restructuring of its collection organization. This will increase the number of agents and supervisors to a total of 20–22 positions.

In addition, Bankaya is planning to conduct a voice experiment with a preventive collection management system. It’s also working on integrating WhatsApp Business to expand its market presence.