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Highlights the role of Auto-resolution in customer communications

READING, UK – July 8, 2009 – Adeptra, the recognised leader in automated customer communications to companies engaged in consumer credit and risk management, today advised credit card issuers to review their customer contact strategies in line with recommendations in the government’s consumer whitepaper released last week, aimed at protecting consumers from excessive debt.

Amongst its recommendations, The Department for Business, Innovation and Skills’ (BIS) whitepaper proposes that lenders will no longer be able to send out unsolicited credit card cheques and a stop to card issuers raising credit limits without any communication with the customer. Research from the price comparison website, uSwitch, suggested one in five people saw their credit card limit increased over the last 12 months without them asking for it. The survey showed that their lender had upped their limit by an average of £1,538.

Adeptra believes that a higher credit limit could tempt people to spend more than they can afford. Lou Venezia, CEO of Adeptra commented: “At a time of increasing consumer debt and many having difficulty in meeting their current financial commitments, there is simply no excuse for not communicating with customers when increasing their financial liability.” He continued: “There needs to be transparency between the lender and the customer and the technology to do this exists, while also delivering a better service to customers at the same time as driving down costs.”

Auto-resolution technology, for example, uses virtual agents to advise people of potential affordability issues before they get into trouble, by proactively letting them know, in case they were not aware, that they had missed a payment, not paid the appropriate sum or that the payment date was coming up or had passed.

Confirming a customer’s appetite for an increased borrowing limit doesn’t necessarily require expensive manpower to contact the customer. Such routine tasks can be performed by virtual agents as they can proactively open a dialogue with a customer at a fraction of the price and with significantly improved contact rates, as the technology can make multiple attempts via different channels to verify that they require the amendment to their limit. Due to the immense volume of calls and improved contact rates, more customers are being reached and helped to manage their debts.

Venezia said: “With confidence levels at an all time low in various government and industry organisations, lenders should be looking to embrace technological innovation to champion transparency, earn trust, deliver excellent customer service, and as a result, gain competitive advantage.”

With a Software as a Service business model, Adeptra’s customers include 9 of the top 10 UK card issuers, 8 of North America's top 10 financial institutions, and 3 of the top 4 Australian banks.

ENDS

About Adeptra
Adeptra is the global market leader in Auto-resolution: technology that automates key call centre interactions to reduce their cost and dramatically increase performance. Applications are fully integrated, industry-specific solutions for business processes such as fraud detection, payment reminders and opt-in marketing.

Distinct from less sophisticated auto-dialler systems, Adeptra combines recorded dialogue with state of the art natural language to reach out to individual customers and personally engage with them about important, time-sensitive issues. Adeptra is able to make thousands of customer contacts simultaneously and achieves higher levels of portfolio penetration and produces significantly better results than human agents alone. The resolutions it secures are delivered into clients’ computer systems for reporting and analysis.

Among its many customers, Adeptra is used by the majority of the Top 50 global financial institutions across EMEA, N America and APAC. It occupies a premium position in the market by continually reinvesting in its technology, operations and service structure. Adeptra was the first to be accredited to the highest data protection standards mandated by the payment card industry (PCI DSS) and, uniquely has achieved this is both the US and Europe.

For more information, visit www.adeptra.com


Jessica Humphrey|NSPR Limited
Tel: +44 (0)1628 502603

Opec House|High Street|Bray|Berkshire|SL6 2PP
www.nspr.co.uk

This press release was distributed by ResponseSource Press Release Wire on behalf of NSPR in the following categories: Consumer Technology, Personal Finance, Business & Finance, for more information visit https://pressreleasewire.responsesource.com/about.