Sub Industry: Retail Banking

Three Pillars of Successful Debt Collection

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

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 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.

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

Lenders checklist: Servicing capabilities for BBLS and CBILS accounts

Coronavirus business loans, known as BBLs and CBILS, are different to run-of-the-mill commercial loans. In our blog The call for a new approach to CBILS and BBLS account servicing, we outline why servicing these loans poses unique challenges for lenders. And how to tackle these with an approach rooted in

A top-5 US bank harnesses Firstsource’s distributed work model to deploy remote automation

Leveraging its remote implementation methodology, Firstsource automated the bank’s Risk Management Quality Assurance processes, increasing capacity for QA testing by 1200% and reducing processing time by 90%. The client One of the largest banks in the US providing banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental

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