Case Study: Embracing a Digital First Collections Strategy

Pandemic-Driven Challenges

The COVID-19 pandemic has caused a significant challenge for borrowers, lenders, and debt buyers. With the high demand for distressed consumer debt portfolios and forbearance programs, debt buyers faced challenges that led to squeezed margins. One debt buyer faced several internal challenges, including high turnover, limited analytical capabilities of existing partners, and an unresponsive digital agency.

Meet: January

This client came to January, a digital collections agency that provides a compassionate, scalable approach to collections and recovery, hoping to solve these challenges. They were looking for a digital agency where compliance would be a non-issue, account management would be a priority, and where its product and data capabilities raised the bar across its network. They wanted to invest in a long-term partnership that could scale effectively and compliantly over time.

The Impact

In short, January helped this client achieve their goal and more. Here are some of the results you can read about in the case study:

1. 152% higher "all-in" liquidation rates than traditional agencies, with 38% higher liquidation rates within the first 6 months of collections.
2. 1.4x higher 'performance to goal' than direct competitors, on average, in terms of gross recoveries during this time.
3. Dedicated account management, resulting in 97% SLA adherence over two years.
4. 6 weeks from contract signed to first upload, a speedy and efficient onboarding to mitigate challenges driven by high turnover.

Check out the full case study to learn more about how January helped this major debt buyer accomplish these results!