Nutun Integrates Stitch To Enable Better, Faster, More Convenient Collections
Nutun Integrates Stitch To Enable Better, Faster, More Convenient Collections. South Africa-based global digital business services company Nutun (previously Transaction Capital Risk Services), is on a mission to enable a better operational, transactional and customer experience to help businesses grow. The team saw significant potential for disruption – particularly when it comes to the payments experience.
Nutun is focused on enabling economic sustainability for local communities by combining unique technology, data and analytics to provide a range of digitally-enabled business services to a global client base. These services range from customer experience to client services, recoveries and transactional services, backed by AI and machine learning, with innovation in voice transcription and gamification. When it comes to collecting debt on behalf of other businesses, it isn’t always an easy endeavour due to sensitivities along the customer journey. At the point of collection, the customer has already received their product or service and has either made a partial payment or none at all.
Strategic Marketing Manager Terri Katz explained, “We like to ensure that our customers are comfortable when it comes to the conversation of money. Most customers don’t necessarily want to talk about their debt – and do not want to receive calls for collection at awkward times.” Interestingly, though, Nutun has found that most people actually want to settle their debt. Realistically there’s only a very small portion of customers that try to avoid making any outstanding payments. Most often, it’s because those customers aren’t in a position to make those payments. That’s where Nutun’s collection services come in, focused on improving processes in order to make it easier and more seamless for customers to find financial wellness via tailored payment and communication options.
Stitch InstantPay forms a critical part of Nutun’s omni-channel offering, enabling them to offer a variety of digital payment options for online collections. Bryan Edwards, Head of Data Sciences and Product Development at Nutun, explained that “customers can go online and view their account or pay directly using Stitch. We’ve offered direct deposits in the past, but Stitch makes that process a lot easier. This is key to ensuring seamless online collections.” By paying with Stitch, customers avoid having to go into a bank branch or ATM and perform a manual direct deposit, which many had opted to do previously. Edwards said, “Stitch can play a major role in making that process easier and simpler, and it works well on mobile.”
