2Way-ConnectSM for Fraud, Collections and Marketing: Reach out to Your Customers—Anytime, Anywhere
When you need to contact your customers, “waiting” only means one thing: lost profits. First Data 2Way-ConnectSM gives you the flexibility, speed and accuracy to reach customers and notify them of time-critical events using an automated phone delivery system. Its innovative technology delivers applications for fraud verification, collections and marketing offers such as card usage incentives, balance transfers, fee-based services, card activation and other marketing opportunities. When fully integrated with the First Data system or with another host system, it can create valuable cross-selling opportunities.
2Way-ConnectSM reaches out to your customers through an interactive voice phone call with integrated “find-me-follow-me” capabilities. Streamline your operations, decrease staffing costs, optimize fraud stoppage and increase collections payments with a single source. Plus, you benefit from the best-in-class collections and risk management and First Data’s established customer procedures expertise and proven implementation processes. No information technology resources are ever needed from your organization.
Improve Your Collection Rate
Nearly 75 percent of the cost of collections is tied up in agents, many of whom will not stay on the job long and a third of whom are not productive, according to research by one leading auto-resolution service. The longer it takes to collect, the more the payoff goes down. With 2Way-Connect,SM you will never have to settle for low collection rates because of high turnover, dialing wrong numbers or not being able to find customers at home. 2Way-ConnectSM with auto resolution automatically makes contact with customers, verifies their identity and resolves their issue. Auto resolution always asks for the entire amount, while a collector may be more likely to react to a consumer’s hesitations and negotiate a payment. Because of this automated approach, customers who are behind on payments often pay a higher average amount than those contacted by call center staffers.
Gain the Power to Stop More Fraud, Build More Profits
Identity theft is the most common complaint the Federal Trade Commission handles. Fraudulent activity related to identity theft costs businesses an estimated $48 billion annually. Thanks to unmatched industry experience, innovation and partnerships, First Data is the leading single-source risk management provider, offering comprehensive, end-to-end risk management solutions. We are uniquely positioned to help you achieve an in-depth understanding of your customers, enabling you to reduce losses and increase profitability through mitigating fraud and managing risk.
Prior to 2Way-Connect,SM communication with customers whose accounts had been flagged for possible fraudulent activity was handled by a client staffer or outsourced to a fraud detection work center. Now, 2Way-ConnectSM lets you extend and optimize your customer communication efforts by reaching out to them for any time-critical interaction through an interactive voice phone call with integrated “find-me-follow-me” capabilities. This two-way alerting system, which uses automated outbound/inbound contact and response capture, includes built-in response options to allow customers to respond to your request immediately. With 2Way-Connect,SM your customers feel connected, in control and important—while you save time and money.
With more than 30 years’ experience, First Data is the trusted resource in risk management solutions, helping you to enhance customer relationships, minimize losses and increase profitability.
Automated Marketing Technology
Are you intimidated by the cost of advertising and direct mail or the prospect of cold-calling thousands of leads? Let 2Way-ConnectSM do the work, producing results at a fraction of the cost. Incorporating 2Way-ConnectSM into your system is simple: You choose how to contact your customers. Customers, in turn, use various built-in options to respond to your request immediately.
2Way-ConnectSM is a cost-effective way to cultivate your business and brand. For example, inactive accounts can be contacted by an automated phone call. A recorded message can offer several incentives that encourage card usage (i.e., “to receive $20 off your next bill, press one. To get 12 months’ interest-free financing, press two. If you have lost your card and need another one, press three, etc.”). When a customer presses one or more keys after a prompt, their response is immediately and automatically captured and processed. In one touch, an inactive customer can become active again and through your incentives, your card will be top-of-wallet.
A mortgage business looking to produce qualified sales leads and promote its business can automatically reach thousands of people in one day, boosting sales volume without using staff resources. When paired with other First Data applications, 2Way-ConnectSM gives you a competitive advantage in the marketplace by helping make well-informed decisions at every stage of the customer life cycle.
