Lloyds TSB Asset Finance

Lloyds TSB Asset Finance

Improving Collections through Customer Engagement

The Aim

Lloyds TSB Asset Finance is a division of the Lloyds Banking Group.

Due to a change in customer and market behaviour (customers moving from HP deals to loans, interest rate increases, all leading to growth in arrears) and some operational changes, Lloyds TSB Asset Finance wished to refocus the collections teams to think differently, moving from one-off ‘get the money’ interactions to creating win-win solutions for the business and the customer. The overall goal was to improve their debt collection performance while also delivering a differentiated service.

Imparta was retained to help develop a culture of doing what’s right for the business, the customer and each other in a challenging collections environment. The remit included a proof of concept customer-centric collections programme before roll-out, and the development of an internal resource to support the roll-out and ensure sustainability.

Lloyds TSB Asset Finance’s Solution

  • Co-design with advisers/managers to ensure collaboration and buy-in
  • Creation of customer-centric collections programme, focused on understanding the customer situation and providing solutions that would stick – making the customer feel comfortable discussing their personal financial situation
  • Interactions designed to support engagement and brand values
  • Delivery style split between classroom and real world – building immediate credibility from early successes
  • Ongoing coaching support


  • Senior management commitment and executive coaching
  • Relationship-focused dialogue – aiming for an end-point that stops cases rolling over gains commitment and retains loyalty
  • Alignment of management infrastructure and HR activities – redesigned recruitment, and induction with dynamic visual support

I was pleasantly surprised when a charming Scots girl treated me like I wasn’t a naughty child! They managed to take on board the fact that my situation was short-term and set up my own payment plan to sort me out – she was polite and positive on the phone and left me determined to pay them ASAP.

Customer feedback

The Results


Decrease in escalated calls


Increase in % converted promises to pay


ROI (cash collected)