EXUS Collections & Recovery Blog

How the flywheel effect can benefit debt collections

Posted by Dimitris Vassiliadis on Thu, Jan 24, 2019 @ 02:45 PM

The sales funnel is a model that has worked across numerous industries for decades, but is its time in the sun waning?

Its success depends largely on trust, but trust in the government, the media and brands has been whittled away in recent years. People no longer hold much (if any) stock in what marketers have to say. In this era of mistrust, word of mouth is more important than ever before - particularly in debt collections, where mistrust is rife, due to a history of aggressive practices and continued reliance on antiquated collections techniques.

The funnel no longer works, so perhaps it's time we look towards the flywheel effect?

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5 quick digital transformation tips for banks

Posted by Marios Siappas on Thu, Jan 17, 2019 @ 04:03 PM

Digital transformation has never been more of a hot topic. 79% of North American banking leaders believe their bank’s existence will be threatened if they don’t innovate faster. However, “digital transformation” is also a loaded phrase: it can mean a lot of different things to a lot of different people, and still puzzles executives in all industries. As a result, it can be quite overwhelming, particularly for debt collections teams who have been operating via the same systems and practices for years.

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Digital transformation in European banks: How are they REALLY faring?

Posted by Marios Siappas on Thu, Jan 10, 2019 @ 10:08 AM

Digital transformation has been something of a rallying cry in European banking for years now, but do those words come with action?

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Five ways tier 2 retail banks are responding to the fintech threat

Posted by Dimitris Vassiliadis on Wed, Dec 19, 2018 @ 11:36 AM

No industry is safe from the fast march of digital progress, and the banking sector is no different. In Europe alone, well over a thousand fintech companies have launched in the last decade and, as of 2016 according to Accenture, these same fintechs make up almost 7% of the industry's overall annual revenue.

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5 reasons customers hate debt collections (and what you can learn from them)

Posted by Marios Siappas on Thu, Dec 06, 2018 @ 01:34 PM

Try as we might to change customer opinion, debt collections has struggled to shake its bad reputation in both established and emerging markets. Regionally, this could be down to a multitude of factors; from cultural differences and complicated local court systems to overly aggressive collections practices. These local debt collections problems have a knock-on effect on a regional scale. There are also various shared problems faced by debt collections agencies and banks across the globe.

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5 retail banking trends for 2019

Posted by Dimitris Vassiliadis on Wed, Nov 28, 2018 @ 03:35 PM

There are forces at work aiming to reshape the banking sector, and retail banks need to choose whether they want to brace for impact or lead the charge. With 2018 winding to a close and retail banking in a state of perpetual change, everyone's eyes are currently on 2019.

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What's the most effective way for retail banks to tackle NPLs?

Posted by Marios Siappas on Wed, Nov 21, 2018 @ 08:40 PM

Between 2015 and 2016, World Bank figures reveal that the average proportion of all loans that are non-performing (NPLs) rose over half a percent from 6.99% to 7.07%.

According to Gartner,the cost of servicing a delinquent loan is now 15 times higher than the cost of servicing a performing loan.

Pair this with a trend towards cutting operational costs, and you’re left with a situation where banks are being asked to collect more with fewer resources.

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