THE CHALLENGE:

Forecasting Collection pattern of customers amid COVID 19’ lockdown.

Repayment has struck, we are working out the ways to reach to the customers to know the customers mindset.

With the government getting into the picture by floating the guidelines for moratorium, it becomes a additional challenge to make the customers and our own team understand them the pros and cons of moratorium scheme.

This problem seems the perfect example of design thinking problem where we find the problem is human centric, problem could not be clearly understood with high level of uncertainty.

SELECTION :

To initiate solving this challenge, GOOGLE DESIGN SPRINTS seems relevant , where post understanding the issue thoroughly , by DIVERGING , we did brainstorming with my team in various combination through con-call with HO-CH ,CH-DM , DM-ABM , ABM-EXE & Combination of all. From the discussions we came out of numerous of ideas, few of workable listed below :

 We should list down and study the profile of customers funded.

 Every profile to be grouped into high, medium & low impact out of the prevailing challenge of lockdown.

 To ascertain the percentage of customer comes into low impact with available online repayment option with them to help collecting their dues.

 Customer with funds available in their account and willing to pay through ACH mode.

APPLICATION :

Post accessing available tool and help of competencies of the manpower , a PROTOTYPE was developed in form of Customer feedback form. Later the same was tested to the small group of customers and basis its acceptability it was applied for entire 20K customers of my Circle.

Customer feedback form was smartly prepared so that it gave us the required information, the learning of design thing was applied like what we know, what we don’t know, what we need to know.

INSIGHT :

While looking at the insight’s received, we came to know ‘ WHAT WOW’s’. We got to know the following pattern of repayments from customers.

 Most of the customers were not opting for moratorium, which was contradicts our previous assumption.

 Still the challenge remains unsolved since due to uncertainty many of the customers feedbacks were conditional.

So while preparing the workable solution, we finally thought of ‘ WHAT WORKS’.

APPROACH :

We are going ahead with sending our customers with the link to pay online along with we have the list of customers which are having cash payments with them which can be collected as soon as the lockdown is lifted.

Apart from this we have also prepared the list of customer who has balance in their account and we will present their ACH in bank shortly.


THE CHALLENGE : Forecasting Collection pattern of customers amid COVID 19 ’ lockdown . Repayment has struck , we are working out the ways to reach to the customers to know the customers mindset . With the government getting into the picture by floating the guidelines for moratorium , it becomes a additional challenge to make the customers and our own team understand them the pros and cons of moratorium scheme . This problem seems the perfect example of design thinking problem where we find the problem is human centric , problem could not be clearly understood with high level of uncertainty . SELECTION : To initiate solving this challenge , GOOGLE DESIGN SPRINTS seems relevant , where post understanding the issue thoroughly , by DIVERGING , we did brainstorming with my team in various combination through con - call with HO - CH , CH - DM , DM - ABM , ABM - EXE & Combination of all . From the discussions we came out of numerous of ideas , few of workable listed below :  We should list down and study the profile of customers funded .  Every profile to be grouped into high , medium & low impact out of the prevailing challenge of lockdown .  To ascertain the percentage of customer comes into low impact with available online repayment option with them to help collecting their dues .  Customer with funds available in their account and willing to pay through ACH mode . APPLICATION : Post accessing available tool and help of competencies of the manpower , a PROTOTYPE was developed in form of Customer feedback form . Later the same was tested to the small group of customers and basis its acceptability it was applied for entire 20 K customers of my Circle . Customer feedback form was smartly prepared so that it gave us the required information , the learning of design thing was applied like what we know , what we do n’t know , what we need to know . INSIGHT : While looking at the insight ’s received , we came to know ‘ WHAT WOW ’s ’ . We got to know the following pattern of repayments from customers .  Most of the customers were not opting for moratorium , which was contradicts our previous assumption .  Still the challenge remains unsolved since due to uncertainty many of the customers feedbacks were conditional . So while preparing the workable solution , we finally thought of ‘ WHAT WORKS ’ . APPROACH : We are going ahead with sending our customers with the link to pay online along with we have the list of customers which are having cash payments with them which can be collected as soon as the lockdown is lifted . Apart from this we have also prepared the list of customer who has balance in their account and we will present their ACH in bank shortly .