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


Company profile

Cash Converters is an Australian ASX-listed personal finance and second-hand retail company headquartered in Perth, Western Australia. As Australia’s largest second-hand retailer and the international name it is today, the company has come a long way since its humble beginnings as a burgeoning family-owned pawnbroking business in 1984.

Client goal

Cash Converters’ main goal was to reach higher liquidation rates than being obtained by their third party debt collection provider at the time. This provider was a traditional collector, using the industry-standard method of recovering debt - calling and sending letters. To determine whether InDebted was the right partner for them, and the efficacy of an intelligent collections strategy, they decided to test our product and compare results with their incumbent.

Proof of concept

With a goal to improve liquidation rates, we predicted that our intelligent collection product would yield better results than the traditional debt collection agency they had been using.


Our solution uses data science and machine learning to generate personalised customer journeys that ultimately lead to higher rates of collection. This means that previous customer data allows the product to learn with every interaction, ensuring that all elements of customer communication have the highest chance of success. From constructing a message with the right tone, to delivering that message at a time that a customer is most likely to take action - our model optimises each step to give the client the greatest likelihood of collections.


In just 90 days of live production, our digital collection product showed 40% higher recoveries when benchmarked against Cash Converters’ and their industry. When adjusted for seasonality and volatility, the long-term impact on their liquidation rates were:

  • 6 months: 30% increase
  • 12 months: 50% increase
  • 18 months: 40% increase

Accounts placed with us were 90 days past due, and gradually they began referring more of their inventory. During the first 18 months, there was also a 50% increase in the number of new payment plans created - giving customers who are unable to pay in full, a pathway to becoming debt free. With increased recovery rates, a tech-based compliance engine, and significantly lower disputes and complaints made by customers, InDebted became Cash Converters’ main third party collections partner.

Client perspective

Taking the time to understand the individual needs of each client is at the heart of InDebted’s client experience, and has been essential for Cash Converters:

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.

Working in partnership with clients means more than regular reporting, it’s providing dedicated support, taking the time to understand goals and from here we can develop an intelligent, high-performing collections strategy. So far, InDebted has recovered over $1,000,000 AUD in overdue accounts on behalf of Cash Converters.


Personal Finance
Business size
610k AU customers

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