During 2020 we have implemented a common data-driven and automated Rules Engine technology that determines on a daily basis the next best action for each of our customers. It selects which customers we want to contact, through what channel and with what message. It also determines which customers to move into specific processes such as litigation and field collection. The Rules Engine puts data at the centre of these decisions and allows us to run concurrent tests to optimise our collection performance.
First market to go live on this new system in the second half of 2020 was Germany where we were able to report early positive results across amicable processes. UK went live in January 2021 incorporating both amicable and litigation strategies. France will go live in the first quarter of 2021, with BeNe, Spain and Poland planned throughout the remainder of 2021.
Since implementing the One Hoist Finance strategy with focus on leadership and communication, we have moved from 61% in 2018, to 68% in 2019 and now finally 77% in 2020.
According to GPTW, the Trust Index measures engagement by assessing opinions, attitudes and perceptions, analyze the level of trust between management and employees, assess the level of pride in the work that the employees do and rate the amount of camaraderie among colleagues.
Hoist Finance hosted a virtual webinar with stakeholders in the industry. The theme was the rising issue of growing NPL volumes among European banks as a result of the Covid-19 pandemic. The purpose of the discussion was to present how the private sector can support in this issue and ultimately contribute to upholding a stable economy. Participants included members of the European Commission and Parliament, client banks such as Deutsche Bank and Banco Santander as well as peers and industry associations.
By partnering with AppJobs, one of the world’s largest gig economy platforms, we can help customers find new work opportunities. Via AppJobs, our customers can find numerous gig jobs and temporary short assignments of various kinds helping them get back on their feet faster. In 2020, AppJobs went live in three markets: UK, France and Spain.
Hoist Finance launched a partnership with TEAM U, the largest independent organisation in Germany to support entrepreneurs with avoiding bankruptcy. Hoist Finance supported TEAM U in building a digital platform to scale their operation.
During the pandemic outbreak we developed a set of Group wide clear principles for how we should accommodate customers affected by Covid-19. Most importantly we provided the contact center agents with the mandate to adjust the customers payment plans to pay less or to stop paying for a shorter period during the crisis.
In 2020 we established a common process and framework for customer satisfaction measurement. This will be tested, analysed and deployed in all markets during 2021.
Hoist Finance UK has launched a new range of digital services to support customers with financial stability and planning. Through Open Banking, customers are now able to see a more accurate and instant overview of their finances. The services include a budgeting tool and Government benefits tracker.
The pandemic has been tough on our people who, for most of the year has been working from home as their communities have been in complete lockdowns. Hoist Finance has launched a number of activities throughout the year to maintain both physical and mental health. Some examples are free online physical exercise classes and a group-wide competition in collaboration with Challengize. Furthermore, we have opened up for free mental health coaching in all markets. In the UK, we have educated Managers to be mental health coaches and they have started an internal platform called "Hoist Hope".
In 2020, we achieved an important environmental milestone in that all Hoist Finance offices are plastic free and have proper recycling.
This year we ran a survey among our client banks and financial institutions to find out what they value and prioritize when selling loan portfolios. Hoist Finance was rated as "Very competent”, a “Reliable partner” and “Top 3” in the market for 80 per cent of our responding clients in the survey.
Hoist successfully extends debt maturity profile by issuing EUR 200m 4-year fixed rate senior unsecured bond at 3.375%.
During 2020 Hoist has developed a new database structure to capture information regarding our Secured portfolios. This structure is based on a framework designed by the EBA. This database provides information for performance monitoring and regulatory reporting, and allows us to better assess the quality of the collateral assets themselves. New automatic valuation tools have been built and the collateral data is being used to drive an environmental risk report that assesses the susceptibility of the assets to key risks such as flooding, subsidence and other climate-related issues.
Issued Additional Tier 1 (AT1) capital to further optimise capital structure. The transaction was very successful with demand substantially exceeding the issued amount.