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Key Takeaways
The collections technology landscape has evolved significantly over the past 25 years, particularly post the 2008 financial crisis.
Cloud technology has become a critical component of enterprise software, enabling faster adoption and scalability.
The transition from on-premise to cloud-based solutions is accelerating across the industry.
Organizations are now focusing on omni-channel strategies, supported by tools that simplify integration across different communication methods.
Artificial Intelligence (AI) in collections is being explored cautiously, with an emphasis on customer safety and transparency in decision-making processes.
Low code/no code platforms are facilitating quicker deployments and user-friendly customization of collections systems.
The legal and regulatory landscape is increasingly impacting collections processes, necessitating adaptable technology solutions.
Legacy systems pose challenges for clients, but new ...
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