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Our Customers

Hoist Finance's mission is helping people keep their commitments. This requires building trust and relationships with a sensitivity to what can often be a challenging situation for the customer. In all customer interactions, we focus on amicable solutions whenever possible, meaning that we work out an agreement based on the customers current situation. We understand that it is not a quick fix for the customer.  It takes time to turn your life around, therefore we look at our customer relationships as a long term investmentWhenever a customer is in contact with Hoist Finance, they can rely on being treated in a consistent, responsible, humane and ethical way. 

This approach has proven to result in better outcomes for all parties. We have many years of experience helping individuals get back on track, including helping customers to regain control of their financial situation .  

How we define our customers

Our customers are individuals and SME’s with a non-performing or performing loan with Hoist Finance. We also have deposit customers through our online savings platforms in Sweden and Germany.

Unsecured Customer Segment

During 2020 we have have worked on our tone of voice with the objective to establish a more accessible language, improving the customer experience. We have developed a stronger customer engagement strategy that allows us to know which customer to contact, through what channel and when. This approach has been delivered through current systems in all markets however consistent application will be delivered through the implementation of a common data-driven and automated Rules Engine technology in all markets.

We have also developed skip tracing, contact centre excellence and our digital channels. Read about these developments in the section about progress of our Unsecured Centre of Excellence in 2020 here.

How we define amicable settlements

Our goal is to work with amicable settlements whenever possible. This means that we help our customers set up realistic and sustainable payment plans through continous communication in various channels. The payment plan is voluntary and individually tailored to the customer's unique financial situation.

Secured Customer Segment

To improve our service of portfolios with secured assets we established a Center of Excellence for Secured Customers in 2019, providing oversight and steering capabilities. This supports the One Hoist Finance Secured culture and mind-set within the group and within our three secured markets: Italy, France and Spain.

Read about the progress of our Secured Centre of Excellence in 2020 here.

Hello, I wanted to thank you for all the attention you gave to this very complicated case. You were exemplary efficient, your professionalism and your kindness was unparalleled. Thank you also to your Director Madame Bourgeois for placing your trust in me. Thank you again with all my consideration and gratitude.

Good morning, first of all I would like to thank you and your colleagues for the speed and correctness with which you have interacted with me and brought this case to a positive solution. I thank you and cordially greet you.

Helping our customer face difficulties during the Covid-19 pandemic 

When the pandemic hit Europe hard in March 2020, we quickly trained our customer service representatives to adopt more flexible customer treatment strategies. Although we always strive to keep the customers on their payment plans, as this will see them get back into financial inclusion faster, we did allow paying customers to have a “payment holiday” without any missed payment build into arrears. We applied a hold period of 30 days, after which we would get back in contact with the customer to see if the customer’s situation had changed.

Our program for vulnerable customers 

An important part of achieving tailored outcomes and solutions for our customers is ensuring that we have effective processes and controls in place to identify those displaying signs of potential vulnerability and to understand the impact that their vulnerability has on their ability to deal with us and repay their debt.   

Vulnerable customers as those individuals who, due to their personal circumstances, are more susceptible to detriment. We understand that vulnerability can look differently and that the same condition or situation can impact individuals in different ways, therefore varying levels of support or services adaptations will be applied accordingly. This includes signposting to specialist organisations and the application of appropriate breathing space and tailored communication methods and strategies. 

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- Annual Report 2020 -
- Årsredovisning 2020 -