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Traditional debt collection practices do not provide as much insight and use manual processes that are prone to create risk and result in errors. This results in substandard collection yields and higher costs. In addition, the regulatory environment is complex and ever-changing; new rules from The Bureau of Consumer Financial
Firstsource’s intuitive next-gen digital services are built upon three pillars: empathy, insight, and agility.
If there’s any such thing as a new normal, digital is it. Digital transformation was already on everyone’s agenda in financial services, but COVID-19 has propelled it to the top of the list. According to Mike Mayo, a securities analyst at Wells Fargo, “what we’re seeing is the greatest acceleration
A Quick Guide on best practices in collections strategies with automated solutions Why is everyone talking about Digital Debt Collection? Consumer debt in the US has increased nearly $2.3 trillion since the peak of the Great Recession in 2009—increasing across almost all debt products to top $14 trillion in 2019.
Jamie Dimon, Chairman and CEO of JPMorgan Chase, recently told analysts he was “scared sh*tless” of the threat fintech and big tech pose to his industry. This hugely respected banker at one of the most highly valued banks in the world is clear that his competitive set has changed. He
A multinational financial services corporation and a leading issuer of credit cards.
Regardless of where you are on the chatbot journey here are three tools to help you evaluate your progress – chatbot strategy framework, maturity model and chatbot performance benchmark scorecard.
Today, as human agents, as well as other voice interfaces, handle increasingly complex transactions…
Background The client is a leading credit card provider headquartered in the United States. Established over 150 years ago, the client has over 100 million active cards and currently features amongst the top 100 companies in the ‘Fortune 500’ list. The client was facing issues of low collections from defaulting
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