How MJR Capital Services increased revenue collected by 67% using Abstrakt

MJR Capital Services is a premier service provider oriented toward the Canadian credit grantor industry.

They have been a proactive partner for the profitable recovery of secured & unsecured credit accounts in the credit granting industry.

MJR Captial Services strives to find innovative solutions that adhere to fast-changing Canadian policies.

MJR Logo

Industry

Collections

Company Size

250

“As we tried to get ahead of the changing landscape of compliance in Canada, we found that Abstrakt was and is the best tool to stay ahead.”

Ryan Pratt

VP, Recovery Operations at MJR Capital Services

The Results

  • Revenue Collected for Agents: With Abstrakt, MJR Capital Services was able to help new collectors increase revenue collected by 67% in their first month. With an additional 51% lift in revenue for tenured collectors.
  • Ramp Time for New Agents: Since using Abstrakt, MJR Capital Services has seen an 87.5% reduction in agent onboarding time. Getting them on the phones within hours, not weeks.
  • Call Coverage: Before Abstrakt, MJR Capital Services was only able to review 5-10% of calls. With Abstrakt, 100% of calls are automatically audited with complete call summaries generated by AI, removing agent bias and subjectivity.
  • RPCs converted to PADs: MJR Capital Services saw a 377% increase in RPCs converted to PADs.

The Challenge

MJR Capital Services faced challenges in delivering consistent training and coaching to their agents, which impacted their ability to improve overall revenue collection while maintaining compliance.

A key issue was the lack of visibility into every call, with only 5-10% of calls being consistently monitored.

Recognizing the need to stay ahead of Canada’s constantly evolving compliance landscape, they knew it was time for a change.

The Solution

MJR Capital Services faced challenges in finding a vendor that could meet Canada’s high standards as most vendors are American-focused.

Abstrakt not only met those expectations but also helped MJR Capital Services significantly reduce agent ramp time, enabling them to get agents on the phone faster while effectively monitoring their performance.

With a clear baseline of compliance issues now identified from auditing every call, Abstrakt’s real-time agent assist will help MJR proactively reduce these issues moving forward.

Additionally, by eliminating agent subjectivity and bias from calls, Abstrakt has empowered MJR Capital Services to maintain its commitment to excellence.

“I’ve been dealing with several vendors in my time, and Abstrakt’s customer service is absolutely top-notch. If there is an issue, they get back to me very quickly with a solution.”

Ryan Pratt

VP, Recovery Operations at MJR Capital Services

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