EXUS Collections & Recovery Blog

The state of debt collections and retail banking in Cambodia

Posted by Marios Siappas on Mon, Aug 05, 2019 @ 11:14 AM

Cambodia is a complicated country. The problem of corruption remains rife, with the country scoring 20 on the Transparency International Corruption Perceptions Index (CPI). That’s 6 points above the notoriously corrupt North Korea. The government’s notoriety was cemented recently when Prime Minister Hun Sen extended his 33-year rule – winning 125 seats in the last election after the opposing party conveniently dissolved.

Still, the economy grew at an estimated rate of 7.1% in 2018, driven primarily by an expansion in both domestic consumption and exports. But this growth belies the fact that many of the country’s citizens are mired in debt, with household debt reaching $4.2 billion in February this year. This represents 15.9% of the country’s GDP, compared with 12.3% the previous year.

+

The UK fintech tipping point: where do retail banks stand?

Posted by Dimitris Vassiliadis on Mon, Jul 29, 2019 @ 01:04 PM

As of January this year, the UK was the most disrupted traditional banking market in the world, with 15% of revenue and over a third of new revenue going to new entrants. Traditional banks are obviously fighting back, releasing their own digital solutions.

How did this come about?

Both of the major regulatory bodies in UK banking - the Financial Conduct Authority (FCA) and the Competition & Markets Authority - have been working to improve competition for customers’ sake, and the Bank of England has fallen into step with them. They’ve introduced new rules for financial comparison and accountability, forcing banks to disclose operational or security issues and customer satisfaction data. There’s also the Open Banking Initiative which requires banks to share customer information with third parties if the customer asks them to.

+

Digital transformation in Southeast Asian banks: Mover or follower?

Posted by Nikos Lambrou on Thu, Jul 18, 2019 @ 03:07 PM

The world of Southeast Asian banking is a digital arms race. This revolution is being driven by a bold fintech startup scene, ever-pervasive e-commerce platforms and the ease of digitalisation facilitated by cloud computing. 

With transformational developments perpetually being driven by young and hungry fintech banks and an audience that is becoming increasingly mobile (90% of the region’s internet users are also smartphone users), banks need to start seriously considering their digital transformation strategies if they wish to remain relevant.

+

NPLs in China: How is the government tackling bad debt?

Posted by Chris Maranis on Thu, Jul 11, 2019 @ 12:31 PM

China boasts perhaps one of the most interesting (and certainly one of the largest) economies on the planet. The world’s largest exporter has maintained steady growth over the last 25 years, and whilst that economy might have slowed recently (due in no small part to an escalating trade war with the United States), by-and-large, China’s economy is still in a healthy place. 

Indeed, economists are predicting a growth of 6.3% throughout 2019. However, whilst still growth, it is the weakest seen on record since 1990. Analysts predict a further loss of momentum until policy support steps start to kick in.

+

Facebook and Libra: How social media companies are getting into banking, and what banks can do about it

Posted by Marios Siappas on Thu, Jul 04, 2019 @ 10:11 AM

Yes, it’s actually happening. Facebook is throwing its sizeable 2.4 billion user-a-month hat into the cryptocurrency ring. 

The news was once little more than a rumour, lent weight by Mark Zuckerberg’s meeting with Bank of England governor Mark Carney back in April. However, it’s now been confirmed by the Financial Times that Facebook has hired former Standard Chartered lobbyist Ed Bowles to help prepare the runway for the launch of its global cryptocurrency.

+

The retail banking and debt collections landscape in Thailand

Posted by Dimitris Vassiliadis on Thu, Jun 27, 2019 @ 11:37 AM

For decades, economic growth in Thailand has been driven and defined by tourism and exports. However, while tourism remains steady, the demand for exports has slowed. There is one other significant economic problem that refuses to abate - household debt.

Thai households are among the biggest borrowers in Southeast Asia, (itself a notoriously complicated region for debt collections) and they are finding it increasingly difficult to keep up with payments. An October 2018 survey by Bansomdej Poll in collaboration with the Foundation for Consumers (FFC)’s Chaladsue (Smart Buyer) magazine indicated that up to 77.5% of Bangkok residents - over 6 million people - are in debt. Even more shocking, however, is the fact that more than half (53%) of those who are in debt have fallen behind on repayments and are in danger of defaulting on their loans.

+

Quick and clean deployment - How does EXUS do it?

Posted by Marios Siappas on Thu, Jun 20, 2019 @ 11:26 AM

With digital transformation constantly and consistently changing the way banks operate, the need for speed has never been greater. If you’re not fast enough, by the time you've installed a new system you're already behind again.

+