[INSIGHTS]: Credit Connect: Collections Technology Think Tank 4.2

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Link: Collections Technology Think Tank 4.2

Session 1: Collections


In this session, the focus is on the consumer duty and its implications for debt collections. Experts discuss the importance of aligning with the consumer duty regulations, monitoring customer communications using voice analytics, and demonstrating a commitment to fair outcomes for consumers. It highlights the potential impact of mortgage rate increases on borrowers and the need for a review of the insolvency regime. While technological advancements like AI are seen as valuable tools, the human element and meaningful interactions remain crucial. Overall, the session emphasized the significance of understanding customer situations, addressing arrears levels, and advocating for improvements in the collections space.

Key Points:

The consumer duty regulations by the FCA emphasize fair outcomes for consumers.Voice analytics and interaction analy...

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