Increasing Trustworthiness And Reliability In Consumer Finance Companies Through Billing Inquiry Outsourcing

The consumer finance industry is not only grounded on money; it is deeply rooted in consumer trust. To encourage more customers to avail of their services, they must be accountable enough to manage the assets that go in and out of their organization.

Providing their customers with specific tools that would allow them to see the current standing of their loans — personal, business, car, house —is a great way to do this. Today, where several channels and tools are available, promoting trust and showing reliability is easier.

Handling billing inquiries services is one way of doing this. A consumer finance company’s trust ratings will significantly improve by assisting customers whenever they need help with their accounts.

Not just limited to calls

Customer service outsourcing, in general, is not limited to calls. Business organizations should ensure their customers can reach them using their preferred channel at any time of the day. Many businesses from various industries have already seen this importance. And financial institutions, whatever their nature is, should, too.

The good thing about billing inquiry outsourcing is its ability to provide customer service using all customer channels. It can also operate on a flexible schedule (24/7), making it more fitting for customers who experience some issues, even at midnight.

Billing customer service can answer customer concerns through traditional phone calls. This is helpful when a customer considers the problem as urgent or complicated. This way, the agent can assist the caller better.

Social media is also an excellent way to do this as well. It offers a fast and convenient approach to solving customer problems.

When the consumer finance company has a mobile application or a website, having a team handle the web chat, email, or app support is also helpful. Offering billing inquiry customer service through these channels makes it easier for customers to track the status of their accounts, thus promoting trust in the organization.

Suppose all consumer finance companies give importance to this. In that case, they can also use the data they have gathered to listen to and analyze the needs and feedback of their customers regarding the service they receive.

Is billing inquiry outsourcing safe for consumer finance companies?

Billing inquiry outsourcing generally involves answering customer queries regarding their accounts and the current standing of their financial loans.

The usual concerns about billing inquiry outsourcing are the loss of control and data breaches. Consumer finance companies should be careful when selecting an outsourcing company. The BPO company complies with international standards and regulations to protect customers’ data. This allows them to secure sensitive client information. In return, they can improve customer relationships and, eventually, build trust in the industry.

It’s not always about the money. Consumer finance companies should focus more on improving their service than their day-to-day transactions. This, in turn, would breed trust and customers more willing to pay their dues on time.

Are you planning to outsource billing inquiry services? Partner with Magellan Solutions. Contact us now for more details.