Innovative Strategies in Collections: A Dialogue with Luzmila Cruz Gaitán from Américas BPS

In this exclusive interview, Luzmila Cruz Gaitán, General Manager at AMERICAS BUSINESS PROCESS SERVICES (Américas BPS), reveals the pioneering tactics that led her organization to win the prestigious ALOIC recognition in the collections, risk, and credit category. Cruz Gaitán, with a notable track record and an innovative vision, has steered Américas BPS toward relational, intelligent, and humanized collection strategies. Discover how her multidisciplinary approach and 100% internal model have not only transformed collections management but also fostered a more empathetic and effective relationship with users. Join us in this enriching conversation where efficiency and customer satisfaction are in perfect harmony.

What were the key strategies in collections, risk, and credit that you implemented to gain this recognition?

From Américas BPS, we are proud to state that our strategies in collections are based on the design and implementation of a relational collection model: intelligent and humanized. This integrates the harmonized work of different disciplines capable of analyzing the needs of the users, their behaviors, negotiation opportunities, as well as the skills that need to be strengthened by the advisors to ensure better management of the relationships with the users.

Our collection model, 100% conceived and implemented internally at Américas BPS, integrates disciplines such as Behavioral Psychology, Design, Communications, Data Science, Advanced Analytics, and Customer Experience and encompasses all the contact channels available for the users. We evolved from attention on traditional channels such as phone and email, to venturing into digital channels like ChatBot, WhatsApp Bot, and even social networks with close and disruptive communication strategies, as well as a 24/7 service.

With this strategy, our main focus consisted of clearly identifying which users to approach, through which channels, and how to motivate these users to have the interest in approaching the entity to settle their debt with different payment alternatives that adjusted to their possibilities.

What approach did you adopt to balance effectiveness with customer satisfaction?

Through the Analytical Models designed from our Digital Transformation Lab, where areas such as Automation and Data Science operate, we were able to define which were the ideal users to manage the collection and with a higher probability of payment, through which channels we should approach them and with what frequency, ensuring the best possible experience for the user. Additionally, we prepared in advance to understand the influx of users through the different channels, ensuring a perception of timely attention expressed within the service surveys.

From your perspective, what are the main challenges in the industry regarding collections and risk management?

From our experience, we have identified two crucial challenges in the collections and risk management industry. Firstly, there is the need to ensure that the user perceives the cancellation of their obligation as a priority within their financial commitments, which is fundamental to establish clear, empathetic, and effective communication. This challenge involves not only debt management but also the creation of awareness about financial responsibility and the positive impact of meeting acquired commitments, which also requires expertise to ensure that our client, the entity we manage, is also a priority for the user.

Secondly, the challenge of identifying, designing, and implementing the best strategies to increase contactability with the customer or user becomes crucial. The ability to analyze and understand the financial needs of the debtors to establish effective dialogues is fundamental. The search for innovative channels and methods to interact with the debtors in a personalized way is a strategic challenge.

Can you share a piece of advice for other organizations looking to improve their collection strategy?

My advice and key to generating an effective collection strategy from Américas BPS has been the good profiling of the debtor users from the combination of Psychology and Data Science, understanding in which channel the user answers, at what time there is greater receptivity to call them, and what is their payment capacity.

What did it mean for your company to receive this recognition from ALOIC?

Receiving the gold award in the collections, risk, and credit category for the region represents for Américas BPS a significant achievement in the financial field and in risk management. It validates the strategies, practices, and processes we have implemented, demonstrating our disruptive leadership in the evolution of the traditional collection model towards a consolidated, intelligent, humanized, and relational model, and enhanced by our differentials from the Digital Transformation Lab.

What do you consider to be the value and benefit of participating in these types of events?

The value of receiving such recognition goes beyond the mere distinction we receive for our excellence in operational collections management; it translates into external validation that strengthens the confidence of both current and potential clients. The exposure we gain through these recognitions provides us with valuable networking opportunities and collaboration with other industry leaders, strengthening strategic alliances, and expanding reach and influence in the regional market.