Lightico: A Credits & Collections Technology Award Winner (Updated)

[Updated: We won ] Lightico’s customers are no stranger to its merits. Lightico has been shortlisted as a finalist for the Credits and Collections Technology Award.  

What is the Credits and Collections Technology Award?

These awards were formulated to reward high-achieving technology innovation. This year, the awards will be presented by the UK Credits and Collections Conference. This ceremony will take place September 13, 2018. It will be hosted in Crowne Plaza, Stratford upon Avon.

Follow-up from the judge’s panel

The judge’s panel consists of professionals spanning the entire tech industry. Council chairmen, compliance regulation officers, advisors and all. You can see their full list of names here. What do the the judges look for when making their selections? Lightico hit on their specified criteria for the chosen finalist technology. We’ve listed them below:

• Must enhance business strategies
• Must boost reputation value
• It enhances business performance
• It promotes growth
• Builds trust value

Lightico's “show-ribbon” solution

Lightico recently held a webinar with credit-connect that uncovered insigths from 100K debt collection calls . You can view the webinar here. Having analyzed 100K collections calls, Lightico detected pattern issues in the collection process. They used the data to adopt a system that reaches debtor's wherever they are. Lightico's solution grabs their attention spans, which eliminates the possibility that non-payment was an accidental oversight. Debt collection agencies on average have a complex 4-6 document setup for their collection process. Your peers struggle with the abundance of documents and contact points. In the desperate scrape to balance all the checks and balances, the debt collection industry is falling behind. With Lightico technology, debt collectors, while on a collection call, can:

• Work to establish ID & verification documents with simple phone image scan
• Provide FCA with a simple mobile upload
• Share the calculation plan and collaborate in real time
• Secure a scaling payment plan, with a simple legal sign off
• Secure a fully auditable and compliant e-signature
• Finalize payment process on the call

The Lightico Effect on Debt Collection

It all sounds great in theory, but what is the real world impact? Since debt collection has become a “no win” situation for most of the private sector, Lightico moved to change that to a win/win situation. They pooled the best resources in tech and customer experience training to bring the “win-win” factor to debt collection. Lightico is instant and ready-to-access anywhere and time on any device. This is beneficial for debtors who are not by their desk nor have printers and scanners to close out payments for their debts. It’s also useful when engaging the younger demographic that has increasingly surrendered the use of landlines, printers, scanner, and sometimes desks, and embraced mobile phones and on the go lifestyles. Debt collection departments and agencies that are already using Lightico are meeting and exceeding their goals. They are closing debts faster and spending less time chasing debtors. Watch the on-demand webinar to learn what insights we've gained from 100K debt collection calls. Speak with a solutions expert and collect debts faster.