Concerned About Losses?
The future of collections is changing dramatically, delinquency for non-real estate products has been trending up over the past several quarters, especially with auto loans and credit cards – so, what can you do?
While some default management initiatives (such as digital transformation) may take a few years to implement, you need something that works now. Tapping into actions that can be less complex and technology driven will help to reduce losses over the next 12-18 months.
These types of shorter-term enhancements balanced with longer-term strategic changes to default management such as digital transformation, advanced data and analytics, and robotic process automation (RPA), will help you better prepare for where the collections business is going and can position you to mitigate spikes in loss performance along the way. Download the Top 5 Ways to Reduce Losses.