Outcomes
By the end of this training course, trainees will be able to:
- Identify debt collection principles and importance.
- Utilize effective communication and negotiation techniques.
- Apply empathy and active listening skills during collection conversations.
- Overcome barriers to debt recovery professionally.
- Navigate regulatory requirements and compliance standards.
- Develop customized debt collection strategies.
- Utilize technology for effective account management.
- Collaborate with internal stakeholders for streamlined processes.
Target Group
- Debt collection agent’s ideal for newcomers or those aiming to refine skills in techniques and compliance.
- Customer service representatives helpful for those managing sensitive payment conversations, needing stronger communication and negotiation strategies.
- Credit and risk management officers valuable for deepening understanding of the role collections play within the financial lifecycle.
- Finance or accounts receivable teams especially useful for professionals handling overdue payments or working closely with collections units.
- Supervisors or team leader’s supports efforts to enhance team productivity and improve client engagement.
- General participants in debt recovery anyone involved in front-line recovery or back-office support can benefit from the training’s insights.
Contents
- Techniques and best practices to:
- Handle overdue accounts.
- Negotiate payment arrangements.
- Recover outstanding debts while maintaining positive customer relationships and regulatory compliance
- Navigate challenging debt collection scenarios.
- Achieve optimal outcomes for both the bank and its customers.
- Ensuring ethical and professional practices in debt collection.
- The use of automation and technology to improve the debt collection process.
- Practical cases study.