Millenium and Crediativos improve their credit recovery rate

Credit recovery is one of the most sensitive and strategic activities within the financial sector. The teams that manage it must ensure that every contact with a customer is made with respect, empathy, and understanding of each personal situation.

In Brazil, companies such as Millennium Cobranças and Crediativos work with this approach and the premise of re-establishing healthy relationships between users and the financial system.

However, there is an obstacle to be overcome: the low quality of the data makes it difficult to locate the real debt holder. Calls are multiplying, resulting in high operational costs and an inefficient experience for both businesses and users.

To address this, Millennium and Crediativos integrated Know Your Customer, an Open Gateway solution to validate customer data. In other words, through this advanced network solution, companies confirm whether the telephone number actually corresponds to the customer, improving the accuracy of calls and increasing the effectiveness of credit recovery processes.

Prior to adopting Telefónica Open Gateway's Know Your Customer solution, Millennium operated much less accurately. Its customer contact team made more than 2 million calls a day, with a success rate of just 3.5% to 5%. Most of these numbers, although active, did not belong to the debt holder, which increased costs and deteriorated the user experience.

With the prior verification provided by Telefónica Open Gateway, the call volume has been reduced by between 200,000 and 250,000 per day, while the effective contact indicator has increased by more than 20%. All of this, in addition to providing quality of service, allows for telecommunications cost savings of between 12% and 15%.

In terms of the impact on the quality of customer service, calls to wrong numbers are reduced by almost 100%, improving the relationship with users and optimising the company's resources

Creadiativos has been in the Brazilian market for more than 20 years, and their approach to debt recovery is very simple: they offer easy-to-understand and totally reliable renegotiation plans to get their clients back to good financial health.

In this process, the most important thing is to talk directly to the customer on the phone. For this reason, Creadiativos uses Telefónica Open Gateway's Know Your Customer solution, which checks in advance whether the number really belongs to the debtor. In this way, they avoid wrong calls, save costs, and offer a faster and more effective service.

Beyond credit recovery, Telefónica Open Gateway offers fintech companies an infrastructure that allows them to operate with greater security, efficiency, and scalability.

For example, instead of sending an OTP code via SMS — a method that can be vulnerable —, a fintech company can use an Open Gateway verification API to confirm directly with the operator whether the number is active, whether it belongs to the registered owner, and whether the device matches the usual one. This reduces the risk of impersonation and improves the access experience without additional steps.

Another use case is the customer registration process: Open Gateway enables real-time validation of user-provided data against the mobile operator's data, streamlining onboarding, and reducing errors.

All of this runs in a way that can be scaled to serve millions of users per day, without losing accuracy, or worrying about service capacity.

If, like Millennium and Crediativos, you want your fintech company to benefit from these security, efficiency, and scalability advantages, join the Telefónica Open Gateway Partner Program for free and we will contact you to start our collaboration.