Case Study: a major bank improves collections yield with Cresta

How a major bank improved collections yield with Cresta

A major bank faced challenges in its collections department, as its agents were not adhering to the established negotiation playbook. Supervisors had extremely limited visibility into call performance, only able to review one call per agent each week, which hampered effective coaching and raised compliance concerns. To address this, the bank partnered with Cresta and implemented its Agent Assist and Cresta Coach products to gain real-time insights and guide agent behavior.

The solution from Cresta provided real-time guidance to collectors, reminding them of key compliance steps and ideal negotiation flows through features like checklists and hints. This led to a rapid and significant improvement, with playbook adherence increasing by four times in just three weeks. The measurable results included an 11% promise-to-pay rate per right party contact and customers promising to pay 26% of their outstanding balance. Cresta’s implementation saved managers time, provided unprecedented visibility into performance, and directly contributed to larger, more timely collections.