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Smart Collections: Balancing Liquidity and Risk with Salesforce

Smart Collections: Balancing Liquidity and Risk with Salesforce

Financial institutions are walking an economic tightrope. Credit card and auto loan payments are increasingly late, a clear sign that organizations need to strengthen their collections approach. But on the other side of that tightrope is the opportunity for loan growth—and tightening up credit too much could mean missing out on good customers and stifling that growth.

This puts lenders in a tricky position: you want to grow your loan portfolio, but rising delinquencies require a more proactive collections strategy.

In the past, times like these would often mean slamming the brakes on lending. But recent surveys suggest that, while some caution is in order, banks understand that completely freezing up isn’t the answer either.  

So, how do you find the right balance? How do you protect your institution from losses while also responsibly helping customers and fueling the economy?

The answer lies in a smarter approach to collections, one powered by technology like Salesforce. This strategy helps you strike the perfect balance, protecting your bottom line while enabling continued lending. It strengthens your institution and keeps you playing a vital role in supporting borrowers and driving economic growth.

Strategic Collections with Salesforce

The challenges of collections can feel overwhelming, but the right tools make all the difference. Salesforce, especially its Financial Services Cloud solutions, offers a powerful toolkit for transforming how your institution handles collections. Here’s how:

  • Centralized Hub: Salesforce becomes the nerve center of your collections process. Account information, payment histories, past interactions—it’s all in one place, giving your team the insights they need to act decisively.
  • Smart Segmentation: No more one-size-fits-all collections. Use data to intelligently group accounts by risk levels, length of delinquency, loan value, or other factors. This laser focus helps your team prioritize their time for maximum impact.
  • Automated Workflows: Cut down on manual tasks and streamline the process. Set up automatic reminders based on the stage of delinquency, escalating to more personalized outreach when needed. This way, no one falls through the cracks, and your team has more time for meaningful interactions.
  • Omnichannel Communication: Meet borrowers where they are. Some prefer email, others a quick text, and sometimes a good old-fashioned phone call is best. Salesforce lets you integrate different channels to boost engagement.
  • Real-Time Analytics: Dashboards provide an instant X-ray view of your collections performance. Track KPIs, spot trends, and identify areas where tweaks to your strategy can make a big difference.

It’s not just about the technology itself—it’s about using it to power a strategic, data-driven approach to collections for your entire organization.

The Collections Agent Experience

Collections agents have a tough job. They handle sensitive conversations, navigate complex regulations, and face the constant pressure of targets. But with the right tools, that job can be far less frustrating and a lot more rewarding.  

Here’s how Salesforce transforms the experience for your collections team:

The “Information Hunt” is Over

Instead of juggling multiple systems to piece together a borrower’s situation, agents see everything at a glance within Salesforce. Loan details, payment history, and even notes from previous conversations are all right there, eliminating guesswork and saving valuable time.

Guide Rails for Success

Clear workflows eliminate confusion about what to do next. Every process is mapped out, whether it’s sending the appropriate reminder for the stage of delinquency or escalating to more personalized contact. This empowers agents to confidently handle difficult conversations, knowing they’re following best practices and compliance guidelines.

Communication Made Easy

Salesforce streamlines every aspect of communication. Clicking to dial directly from the platform, triggering pre-drafted emails based on case status, logging call details—it’s all simplified. Agents spend less time wrestling with technology and more time actually talking to borrowers and finding solutions.

Cut Down the Busywork

Automated reminders, seamless case escalations, and updates that flow directly into account records give agents back their most precious resource—time. Agents can use this time to build relationships, tailor solutions, and find a path back to repayment for struggling borrowers.

Focus on What Matters

When collections processes run smoothly, agents are free to do what they do best—help people. This translates to higher recovery rates, a greater sense of purpose, and positive experiences for both agents and the borrowers they serve.

Describes the collection agent experience from initial notification to first attempt, promise to pay, and payment confirmation.

Business Impact

Investing in a strategic collections approach with Salesforce delivers tangible benefits across your institution. Let’s dive into the key ways this investment pays off:

Optimized Asset Quality

Reducing non-performing assets is a key indicator of financial health. When your collections efforts improve, you’ll see a positive shift in your balance sheet. Imagine cutting delinquencies by 10%—that directly translates into a healthier portfolio and stronger financial ratios.

Enhanced Liquidity

Collections aren’t just about protecting past revenue; they’re crucial for fueling future growth. Timely payments mean more cash flow on hand, which gives you the flexibility to cover operating expenses, invest in new lending initiatives, and navigate economic challenges with more resilience.

Reduced Loss Provisions

Successful collections mean you don’t need to set aside as much money for those pesky “bad debts.” This frees up capital for more productive uses and directly boosts your profitability. Think of it as money you get to keep and reinvest instead of writing off as a loss.

Revenue Recovery

Every dollar collected is a dollar earned. Your institution works hard to secure those loans—a strong collections strategy ensures you maximize that return on investment. And by working fairly with borrowers, you uphold your reputation as a trusted financial partner, which pays dividends in the long term.

Stronger Customer Relationships

It seems counterintuitive, but collections can strengthen customer bonds. You build trust and loyalty by offering solutions, showing empathy, and demonstrating a commitment to helping borrowers get back on track. This means they’re more likely to see your institution as a true partner, even after navigating a difficult financial period.

What’s Next

Finding the right balance between collections and loan growth is a real challenge for financial institutions. Outdated, reactive tactics won’t cut it anymore. Technology like Salesforce Financial Services Cloud offers a smarter way forward.

Think of it this way: it’s not just about the money you collect; it’s about building a collections process that helps your bottom line and your borrowers. When you approach collections proactively, with empathy and the right tools, it becomes a chance to offer support during difficult times and build stronger, lasting customer relationships.

Coastal has the experience to transform how you handle collections with Salesforce. We’ve seen how this approach makes a real difference for our clients, from improved financial outcomes to maintaining a positive reputation. We understand your industry, your challenges, and how to build compliant solutions that work.

Ready to explore how Coastal can optimize your collections approach? Let’s start a conversation—schedule a demo today and tell us about your specific needs.

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