Sub Industry: Retail Banking
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Why flexibility is the future of debt collection
“Flexibility is the key to stability”. These wise words from legendary coach John Wooden are as relevant to business as they are to basketball. And, in our changing times, successful debt collection will depend on a collector’s ability to flex their approach to engage and empower consumers while also embracing
The debt reset: Why it’s time to disrupt debt collection with kindness
I’ve been thinking a lot about kindness recently. The pandemic exposed the inequalities in our society. It also reminded us of what it means to be human—to be vulnerable. During the darkest hours, we were surrounded by stories of people who’d gone out of their way, perhaps risked their own
Collections of the future – A study by Everest Group
Unlock value with technology shifts in digital collections
A guide to transitioning to a Digital Collections model
It is humane and it works
Three pillars of successful debt collection
Traditional debt collection practices are prone to substandard collection yields and higher costs. In addition, the regulatory environment is complex and ever-changing; updated rules from The Bureau of Consumer Financial Protection (CFPB) are focussing more on debt collection communications and the practices of debt collectors. Fortunately, the path to achieving this
Intelligent Automation in record-to-report: Top 4 use cases
Is your Finance and Accounting (F&A) team bogged down by routine, repetitive, low-value tasks? Is the cycle time for closing and reporting high? Does it require significant manual reconciliation and data maintenance? Are your executives hampered by the lack of meaningful reporting? If you are witnessing any of these challenges
Digital debt collections : The future
Firstsource’s intuitive next-gen digital services are built upon three pillars: empathy, insight, and agility.
Digital finance is now: Are you ready?
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
Digital Debt Collection: An effective collection strategy for the digital age
A quick guide on best practices in debt recovery with automated solutions Why is everyone talking about Digital Debt Collection services? 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
Who will win in the brave new world of financial services?
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
