FCA rules for Persistent Debt – How is your contact centre handling the increased workload?

The FCA’s July 2016 Credit Card Market Study highlighted significant concerns over the levels of persistent debt in the UK with firms required to be fully compliant by 1 September 2018.

Credit card customers in “Persistent Debt” must now receive communications at intervals of 18, 27 and 36 months. Whilst not overly complex, the rules have brought clear operational and strategic challenges for financial services organisations, not least the varying call volumes, customer journey, and the resulting impact on customer outcome in an increasingly competitive landscape.

How can greenbean help?

We are experts in supporting financial services clients through periods of regulatory change which can often result in an unplanned spike in call volumes and associated back office administration tasks.

Our bespoke resourcing solutions are designed to work as an extension to your BAU recruitment model and can scale up or down quickly to match predicted call volumes and changes in forecasted demand. Some of our recent projects include:

  • Sourcing and vetting 35 Data Entry Administrators over the festive period for a national retail bank to support additional workload as a result of PSD2.
  • Sourcing and vetting 60 Customer Advisors for a retail bank across two UK sites within a four-week period following a serious data breach. Over 50% of the Advisors were subsequently offered permanent contracts with the organisation.
  • Sourcing, vetting and managing 75 temporary workers for a six-week financial services migration project with a global outsourcer.
  • Supporting a multi-site global banking operation through ISA season. Up to 90 FTE for three consecutive years with an average temporary assignment tenure for each campaign lasting four months.
  • Sourcing 60 fully compliant staff for Fraud and Financial Crime teams across two UK banking sites with a short lead time, which we delivered via a fully integrated on-site model.
  • Souring and vetting 20 Complaints Advisors for a leading bank within seven days of a technological glitch to handle an uplift in call volumes.

What do our clients say?

“Thanks to greenbean, we have been able to quickly scale up our customer services operation with a raft of high-quality temporary workers to support a spike in workload. We have been so impressed that we intend to roll out the temporary workforce model to other parts of our business to give us more agility. greenbean exceeded our expectations on this project and we look forward to continuing our partnership.” 

MD, financial services business

“I have recently had the pleasure of working closely with greenbean. Our operation required an immediate additional resource of approximately 25 staff and due to the nature of our business project, we chose to recruit temporary staff. We engaged with greenbean, giving them an overview of our business area and the skills we required for the roles. Within a week, greenbean had sourced, interviewed and secured potential candidates in preparation for their start date. New candidates joined with clear client expectations, the calibre was exceptional, and the candidates supplied have been an asset to our business area during our most vulnerable time due to excessive customer demand. greenbean work exceptionally close to the client and are always available for support and guidance where necessary. Each week greenbean has on-site presence to support us, which is fundamental in retaining strong working relationships and support functions.”

Operations Manager, Retail Bank (contact centre)

If your contact centre is facing an increase in workload due to regulatory change, greenbean can act quickly and efficiently to source high calibre temporary workers to support your business.

Contact us to find out more.