New report from our survey on Global collections effectiveness - across multiple markets.
A couple of trends really stand out
The consumer appears to be under increasing strain which is only gradually starting to flow through to collections volumes.However, many customers are new to the collections process and have currently have a good credit rating. Some of these consumers are using additional borrowing to help make ends meet, and this could represent a large future risk (and future collections volumes)Digital first collections is starting to be adopted however this varies by industry and market. Some markets are typically more biased towards telephone based contacts than others, and this is an opportunity for cost reductionCollections processes have started to evolve to become more customer rather than payment centric. This progressed significantly during the pandemic, however there is still further opportunity. This may be especially relevant within any fur...
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