China Guangfa Bank Credit Card Center Cuts Collection Costs and Improves Customer Service Using FICO Solution
Guangfa Bank Credit Card Center (CGB Credit Card Center) is using FICO® Customer Communications Services (CCS) to help reduce its cost of collections and improve customer service across its credit card portfolio.
More than a year after the rollout, the business unit has managed to improve the average daily rate of repayment by 2 percent and has collected several hundred million yuan in repayments using the FICO solution. The use of this solution has also resulted in a significant lift in customer satisfaction levels for CGB Credit Card Center. Since the project was launched, the number of complaints the bank receives has dropped to one-tenth of when they were running manual collections.
The success of the project has earned CGB Credit Card Center an award from The Asian Banker for “Best Self-Service Banking Project in China”.