Due to the rearranged economic environment, the upcoming period will be a major stress test for everyone, including banks and financial institutions.
Here, our experts share useful advice on how banks and financial institutions can manage their collections better, and minimise non-performing loans in these challenging times.
It is best to focus on early warning, behaving more as a partner, educating the customers and finding the best devices for this, collecting, structuring, and analysing data properly, targeting, and using a high degree of personalisation to promote a positive customer journey.
As they face multiple “traps”, banks should decide what to keep on the balance sheet and what to outsource to perform better at their core business. These and other helpful thoughts can be listened to in this podcast.