Respectful and fair: Debt collection at EOS.

• EOS bases its receivables management on fair payment arrangements and respectful communication.
• Digital tools and individually selectable communication channels help consumers close their cases.
• Group-wide policy secures ethical and professional standards.

“How much do you want to pay a month?” On the EOS Germany service portal, defaulting consumers can decide themselves. The portal uses technology they know from online stores and other websites: the user can click on the monthly payment on the screen and slide it up or down to change the amount. A minor hand movement – with a major impact. With it, consumers can decide themselves which payment amounts are right for them.

EOS is committed to fair debt reduction for consumers. This is reflected in the company claim: “Changing finances for the better.” For EOS, debt collection means helping defaulting consumers become debt-free. With payment plans that are financially realistic for all parties involved. With solutions for consumers who are facing particular challenges due to their circumstances. And with a way of dealing with consumers that is characterized by respect.

In 2023 the company introduced a Group-wide policy for all EOS subsidiaries to define standards for fair and ethical debt collection that also accommodate the needs of vulnerable consumers. The key principles are as follows:

 

• We treat consumers with sensitivity, tact, and a sense of responsibility.
• We communicate equitably and remain professional even if the conversation gets difficult. If the communication becomes emotional, we suggest pausing the conversation and continuing it at a later time.
• We approach every defaulting consumer without bias or prejudice.
• We use simple language, avoid complicated jargon, and provide clear recommendations for action that are easy to follow.
• Our overall goal is to make defaulting consumers feel they can speak openly and confidentially with us.

To do this, EOS uses state-of-the-art technology. For example, the cutting-edge debt collection system Kollecto+, which is already being used in 8 of the 24 EOS countries and which offers consumers a fully digital experience. “We are constantly on the lookout for opportunities to improve this experience. By giving defaulting consumers as many means of communication as possible, we enable them to find solutions to their own debt situations,” says Cristian Musat, Managing Director EOS Technology Solutions and person responsible for Kollecto+.

Tools such as the payment calculator on the EOS Germany service portal help with this. “We want to give consumers the flexibility and usability they need and are accustomed to,” says Sören F. Sörries, Director Portals & Integration at EOS Technology Solutions. Consumers have different payment options, including Apple Pay and PayPal, available to them based on the country they are in. EOS provides transparency by clearly showing the breakdown of amounts into receivable amounts, interest, and costs on the service portal.

Equally important is the need to make contact as easy as possible – for the consumers. “Each of the over five million debt collection cases that we closed in fiscal 2022–23 alone was unique,” says Michaela Homann, Head of Customer Communications at EOS Technology Solutions: “And the stories behind these cases are just as varied as the needs of the consumers are. That’s why we want to be available on as many channels as possible on which customers want to communicate with us.” Whether telephone, email, letter, service portal, or chat. Whether mornings, evenings, or on weekends.

There are already a good dozen digital EOS service portals in different countries ensuring that users can have their concerns addressed individually at any time. In Germany, most people choose to use their smartphones for this. In Belgium, France, and Croatia, defaulting consumers also often prefer to use chatbots. The virtual colleagues can quickly answer commonly asked questions and additionally lower the barrier to communication for consumers who find it difficult to talk about their financial situations over the phone.

If a consumer would prefer to talk to a real person, EOS makes sure that he or she is connected to a call center employee who is both professional and empathetic. This does not just entail remaining professional even when a conversation becomes emotional, as stated in the policy; it also means using clear and simple language. Our colleagues in Poland developed seminars for training staff to avoid using jargon and foreign words.

Whether these measures are effective can best be judged by consumers themselves. That’s why EOS sought feedback in the spring. In a survey of around 1000 consumers in Germany, about half (47 percent) of the respondents were “very satisfied” with EOS, just as many (47 percent) rated the company as “especially friendly,” 49 percent rated it as “innovative,” and 51 percent as “solution-oriented.”