Debt Collection Faces a Corona Tsunami

Many banks in both developing and mature credit markets are insufficiently prepared. The economies in many countries have not seen a recession for more than a decade. Low levels of unemployment and low loss rates in retail credit have allowed banks to lose focus on their collection and recovery departments. Where investments have been limited to regulatory requirements, organisations are falling behind international good practice. The lack of prior investment shows across methodology, technology and organisational aspects. Even large organisations can be 10-15 years behind standards in markets such as…

Read More