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Data driven business

During 2021, we increased our focus on digital solutions and automation and continued the work to improve our collections processes. We do so to accomplish greater efficiency and achieve best practice in our operations processes in all our markets, from amicable collections to litigation processes.

At Hoist Finance we believe that the future of debt collection is to provide customers with those communication and payment solutions best suited to their needs, which is reflected in our digital strategy. When contacting us, we leave the choice of which channel to use to our customers. When reaching out, data tells us how and when to contact our customers and which payment solution they can afford. Last year we have seen improvements in the use of our self-service portal, increased customer satisfaction and a lower cost to collect. With our customer support platform, customers can assess their own unique financial situation and access guidance on how to improve their finances, reduce expenses and identify social benefits that they are entitled to. 

  • Group data model enhances efficiency

Hoist Finance’s Group data model enables us to do large scale analytics and reporting in one place, enhancing collections performance at reduced costs. Contact centre and web portal reporting uses live queries and visualised real-time data. The Group data model allows for a more structured KPIs monitoring as well as detailed comparisons for knowledge sharing and continuous improvements across the group. Data is being used to combine affordability checks with customer payment behaviour, to improve collections and reduce costs.

  • Rules Engine supporting plan conversion

We consistently leverage technology and develop a culture of data-driven decision-making processes. Hoist Finance’s Rules Engine product (NEO) creates automated strategy decisions based on comprehensive data. On a daily basis, Rules Engine defines the next best action for each of our customers by selecting the customers we should contact, the channel we should use, and the message we should convey.  By utilising our data in decision making processes, Rules Engine allows us to run concurrent tests to optimise our collection performance.

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- Annual Report 2021 -
- Årsredovisning 2021 -