Ten years on from the financial crash, we’re still sending vulnerable young graduates into the world burdened with debt
We all want to detect problem loans early enough to do something about them. Online collections software can help.
Integrating a full debt collections solution can go a long way to addressing the difficulties in defining and identifying vulnerable customers.
What makes a good debt collection platform into a great debt collection platform? I think the answer is empathy.
Finding the right debt collections solution is vital, and the pressure on businesses will only increase as awareness of vulnerable customers grows.
Investment in digital technologies is one way to approach the challenges that the collections industry faces.
Adding visibility to the money management process will ensure consumers keep a tighter hold on their finances while the single point of contact will help them avoid feeling overwhelmed by the sheer volume of accounts they must manage.
In 1920s America the motor car was the ultimate status symbol, but almost no one could afford one. This was until lenders started springing up across the nation.
Financial services companies are deploying chat bots. Customers can make payments, check their balance or even get help on saving money by simply talking to the bot.
Increase collection rates, halve costs, cut delinquency rates. No, we’re not dreaming: digital is set to completely transform the world of debt recovery and collections.
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