Intrum, a global credit management services company based in Sweden, has chosen Cognizant to provide digital integration and core modernization services for Intrum’s credit management technology platform.
This strategic enhancement is aimed at empowering Intrum’s contact center employees with actionable, data-driven insights, enabling them to better advise debt customers from its pan-European delivery centers and develop innovative solutions and support while leveraging their human empathy and judgement.
Cognizant plans to collaborate with Intrum employees and other partners to build and support a core digital system and implement a new integration layer. The goal is to help Intrum reduce total cost-of-ownership, accelerate the modernization of its integration platform, and establish an agile digital services team to cater to customers’ needs across 20 countries in Europe, particularly those grappling with liquidity challenges due to the prevailing macro-economic climate.
Moreover, Cognizant’s services are anticipated to streamline the debt management and restructuring process, benefiting both companies and individuals. This will allow Intrum to offer a comprehensive approach to debt management solutions, encompassing a customer’s entire loan portfolio, not just the portion acquired by Intrum for servicing. The enhanced technology capabilities are expected to enable Intrum to identify viable debt servicing opportunities, offering potential for upselling or cross-selling additional offerings.
Additionally, the modernized approach will facilitate handling higher transaction volumes, including payments, customer queries, and statements across multiple portals and channels, thereby improving turnaround time for customer queries, debt management, and ultimately enhancing customer satisfaction.
Ronald Reurink, Global IT Mature & Emerging Markets & Scandinavia at Intrum, emphasized the importance of adapting to macro-economic challenges and focusing on fair and ethical collection solutions. He noted that Cognizant’s digital transformation services are instrumental in developing top-notch technology platforms to comprehend client needs and provide seamless and friendly customer support.
Mats Johard, Country Manager, Sweden at Cognizant, highlighted the significance of digital transformation in the credit management industry, especially in light of global economic challenges. He emphasized the collaborative effort between Cognizant and Intrum to develop an innovative and efficient solution for the evolving and complex credit management industry, expressing enthusiasm for the opportunity to accelerate Intrum’s modernization with a new core digital system.