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Immediate solutions for getting back to growth in the consumer card and small business lending segments Newark, DE – February 22, 2010: Bridgeforce, the Leading Consultancy in Credit, Collections, and Risk Management, has recently published a new position paper titled, “Getting Back to Growth” The global economic downturn shifted the focus of ALL financial institutions from growth to risk mitigation and loss reduction. Most have spent the majority of the last two years repairing the dikes, essentially doing whatever it takes to stop the flow of losses as credit cards defaulted, small businesses shut down, and homes were foreclosed on. The economic collapse created shifts in the lending landscape, most noticeably; a retraction of credit offerings and a shift back to conservative lending. Institutions will need to quickly adapt to the changes of the past two years in order to increase profitability and lend effectively in 2010 and beyond. In response, Bridgeforce has announced the first in a series of Strategy Briefs to address the credit acquisition and growth opportunities available to lenders in 2010. “Our first issue focuses on what has changed and the impacts/opportunities these changes present within the consumer card and small business lending segments” says Matt Scarborough, Bridgeforce Managing Director. “Our goal is to assist lenders in improving both the profitability and risk of their customer acquisition and customer management strategies in use today so that they can confidently shift their focus back to growth in 2010.” For more on this topic or on other Bridgeforce services, please visit http://www.bridgeforce.com/distribute.asp?paper=Getting_Back_to_Growth_Position_Paper.pdf or e-mail . About Bridgeforce, Inc. Bridgeforce is a management consulting firm that specializes in strategy, operations, and technology consulting services for credit products. Bridgeforce operates in the credit card, retail banking, mortgage/home equity, auto lending, small business, and insurance sectors with clients that include 7 of the top 10 U.S. banks and 4 of the top 10 global banks. www.bridgeforce.com |
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