IIC's work with the Credit Services Association (CSA) and the credit services industry
We are the UK’s leading customer experience (CX) agency, carrying out in-depth 360° assessments of organisations customer experience delivery. In our 12 years of experience, we have developed a particular specialism working within the Credit Services industry and are delighted to be working with the CSA and many of its member organisations. This is a fascinating industry for customer experience – proving that treating customers fairly is vital in all circumstances.
Why is CX so important in the credit services industry?
Regardless of the good work and professionalism exhibited by CSA members, we know there can often be a negative perception of the credit services industry among clients and customers. This can be problematic and a tough barrier to break when trying to forge long-term customer relationships and build trust and advocacy.
From the analysis Investor in Customers has done within our industry, it shows that some CSA members provide a far better experience than some organisations outside the credit services industry. That is a point of growing importance given the nuances of our industry, and the negative press it has the potential to attract.
There is a growing body of evidence that indebted customers (typically a couple aged between 40 and 60, in multiple debt) will repay the company who treats them most fairly, with empathy, understanding and compassion. In this scenario, these customers also make less complaints, file fewer requests for payment holidays, and generally use up less administrative resource in dealing with them.
This naturally becomes a double-edged sword if your competitors are delivering this kind of service and you are not.
The dawning realisation is, credit services organisations need to be delivering a higher-level of CX than other types of service provider, outside the credit services industry. We have to compete with our customers’ and clients' general CX expectation levels, and we need to come out on top.
Credit services client testimonials
Just some of the good things our credit services clients say about our work...
Find out more about the work we have done with Lowell Financial over the past five years and how we have helped drive their business forward.
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