How InDebted’s intelligent collections outperformed a traditional agency by 40%

Location

Global

Industry

Personal Finance

Business size

610k AU customers

Company snapshot

Cash Converters is an ASX-listed leader in personal finance and second-hand retail, evolving from its beginnings as a family-owned pawnbroker in 1984 into a nationwide brand.

The challenge

Cash Converters sought a fresh approach to debt recovery. Their existing collections agency relied heavily on traditional methods—phone calls and mailed letters—with minimal self-service options. To raise liquidation rates and explore more customer-friendly, digital-first strategies, they appointed InDebted as a challenger partner for a proof-of-concept trial.

Our approach

We introduced our intelligent, AI-driven collections solution—designed to meet customers where they are. By shifting the engagement model to digital channels like email and SMS and enabling more flexible, self-serve payment options through an online portal, we aimed to deliver both better results and a more positive customer experience.

Results

Within the first 90 days, InDebted outperformed the incumbent agency with 40% higher recoveries on accounts that were already 90 days past due. Long-term improvements continued to scale:

6 months: +30% liquidation rate
12 months: +50% liquidation rate
18 months: +40% liquidation rate

Additionally, new payment plan adoption surged by 50%, giving more customers a flexible path to repay. Disputes and complaints also dropped significantly, reflecting stronger customer satisfaction.

Thanks to improved outcomes, modern customer engagement, and a secure compliance framework, InDebted was selected as Cash Converters’ primary third-party collections partner.

Client testimonial

“Excellent client services and client engagement. Their team is always ready to help. Their monthly reports offer advanced insights into the current market trends in debt collection, which helps us in our decision-making process. The new Client Portal has been great for our team as it gives us access to our accounts performance data whenever we need it. Moreover, everyone I have had the pleasure to work with from the team at InDebted are committed to helping their clients attain the best results possible.”