Navigating operational inefficiencies & legacy constraints
UK Search, a leading tracing and debt collection business in the UK, faced operational and technological challenges that were holding back its ambitious growth plans. A legacy payment provider delayed essential processes and restricted the payment options available to customers.
To build on its customer service, increase efficiency and manage pressure on margins, UK Search needed a comprehensive digital transformation that would deliver:
- More personalised digital customer journeys
- Better support for vulnerable customers
- Seamless integration with its core systems
- Lower costs and a more scalable model for growth
Digital transformation and payment optimisation
Acquired and DebtStream have built a strong partnership over three years, combining their products into an end-to-end digital solution for the debt management space. Working in tandem, they set out to deliver measurable improvements in efficiency, payment success and customer experience for UK Search.
DebtStream’s role
DebtStream introduced its self-service platform, giving UK Search data-driven, personalised customer journeys across its portfolios and customer segments. Customers can now interact with and resolve their accounts digitally.
Outbound secure messaging replaced traditional letters, reducing communication costs and speeding up customer outreach. Close work with UK Search’s core system provider ensured real-time data exchange and reduced internal technical and operational overheads.
By prioritising customer-centric digital solutions, we’ve helped UK Search to deliver a digital first approach, streamlining their operational overheads, unlocking new opportunities for growth, whilst most importantly driving better outcomes for customers. In an increasingly digital-first industry, UK Search is now in an excellent position to scale their operations going forwards.
Acquired’s role
Acquired optimised the payment experience for UK Search and its customers. Our proprietary Pay by Bank solution achieved a 97% authorisation success rate, and a broad range of payment methods, including cards and digital wallets, lets customers pay in the way that suits them best.
Network Tokens lifted payment success rates within one month and reduced declines from lost or stolen cards, suspected fraud and closed accounts, while strengthening compliance through advanced tokenisation.
The value of providing alternative payment methods alongside cards cannot be underestimated. We’ve supported UK Search in achieving higher transaction success rates, improving operational efficiency, and creating a seamless, future-ready payment experience for their customers.
An impressive operational improvement
- 6+ months of call centre recruitment eliminated
- 33% of customer engagement now in the DebtStream self-service platform
- 50%+ of digital payments via Apple Pay, Google Pay & Pay by Bank
- +5% authorisation rates from Network Tokens in the first two months
UK Search achieved substantial cost savings, eliminating over six months of call centre recruitment while maintaining volume growth. 33% of customer engagement now takes place in the DebtStream self-service platform, and 75% of digital payment plans need no agent interaction.
Digital payment uptake rose to 70%, with over half of these payments made via Apple Pay, Google Pay and Pay by Bank. Fewer failed payments and lower overheads improved margins, and Network Tokens increased authorisation rates by 5% in the first two months.
Most importantly, UK Search can now scale without additional full-time employees, opening new commercial opportunities such as white label and Business Process Outsourcing.
Our partnership with DebtStream and Acquired has transformed the efficiency of multiple aspects of our operations, enabling us to deliver a more personalised, efficient customer journey while futureproofing our business for scalability.
Interested to learn more about how Acquired and our partnerships can improve your payment processes?
Get in touch