The financial industry is undergoing transformational change worldwide, and as a result, collections teams are bracing themselves for challenging times caused by a range of internal and external forces. Prolonged conflicts, rising inflation, a Covid-19 rebound, supply chain disruptions, and a looming economic recession all significantly influence the liquidity-rich period across global economies.
These socioeconomic aspects represent risks, problems, and at the same time, opportunities for lending institutions around the world. Accordingly, regulators have noted these factors and revamped frameworks to promote responsible lending and protect consumer interests.
Lenders have recognized the crucial role that customer experience plays in the lending lifecycle and are now tailoring products to suit customer needs better. While collections is often regarded as the final stage in the lending process, it is an essential element of the broader customer journey.
Hyper personalizing collections strategies, right from customer segmentation to communications, could help lending institutions design a better and faster collections process while providing a superior customer experience at the same time.
What does the future hold in store? How does an improved collection process affect NPAs? How can lenders streamline customer journeys throughout the debt collection process? Join our panel of experts to learn more about devising a customer-centric debt collection process and what the future may have in store for Banks and Vendors in the industry.
- Adam Kocsis, Head Of Professional Services, Loxon Solutions
- Nikhil Gokhale, Head of Research, IBS Inte
- Ahmed Al Shaikh, CIO, Jordan Islamic Bank
- Karen Savage, COO, Azzurro Associates Ltd
- Tamás Erni, CEO, Loxon Solutions
- Nikhil Gokhale, Head of Research, IBS Intelligence (Moderator)