Miland Credit Management Uses Automation to Enhance Customer Experience

Midland Credit Management (MCM) is a financial services company that works with consumers to resolve their past-due financial obligations. Since 1953,  MCM has been working with consumers to achieve a healthy financial outlook by empowering consumers through education and customized payment plans. 

Recently, MCM leveraged Blue Prism to efficiently automate diverse finance processes across multiple systems, which was an immediate success story – and duly recognized, in 2021, with a Blue Prism Customer Excellence Award.

Challenge

In early 2020, a legacy system was decommissioned to move to a more robust and secure platform. The company’s IT team was tasked with migrating sensitive consumer data from one system to another. It was a very complex process that required a few different technology teams to work together to achieve the goal. Had the data not been migrated, thousands of consumer payments could have been affected. Amidst all this, the pandemic also presented a challenge, as employees adapted to newer ways of working and collaborating in a fully online environment. Despite these realities, the MCM Consumer Support Services team continued its work to find a solution under tight timelines.

Solution

To help meet their goal, the MCM team quickly adopted automation across its processes to handle consumer needs in an efficient manner. The team leveraged a Blue Prism digital workforce. This meant that instead of traditional screen scraping, exposed APIs within the current system were now managed by digital workers. Within a week, the scoped data was securely migrated to the new platform. Next in line, was the automation of the dispute resolution process, to ensure that all consumers continued to be serviced effectively and efficiently in their hour of need. The results were rock solid – within just two months of going live, digital workers had not only cleared all backlogs, but they were also resolving disputes, and queries, in much less time. This helped create a better customer experience.

Furthermore, by incorporating intelligent automation, with human-in-the-loop features, MCM is on target to automate several of its critical business processes. Optical character recognition (OCR) tools are being deployed to automate mailroom operations, wherein digital workers are being used to identify, index, and upload documents in the system of records. This enhanced agility, across business operations, has led to incremental benefits, and thousands of hours have been returned to the business.

About Midland Credit Management 

Encore Capital Group, MCM’s parent company, is an international specialty finance company that provides debt recovery solutions and other related services across a broad range of financial assets. Through its subsidiaries around the globe, Encore purchases or services portfolios of receivables from major banks, credit unions and utility providers. Headquartered in San Diego, Encore is a publicly traded NASDAQ Global Select company (ticker symbol: ECPG) and a component stock of the Russell 2000, the S&P Small Cap 600 and the Wilshire 4500. More information about the company can be found at http://www.encorecapital.com. More information about the company’s Midland Credit Management subsidiary can be found at https://www.midlandcreditonline.com/.