EXUS Collections & Recovery Blog

Marios Siappas

Recent Posts

Is AI the answer to better debt collection?

Posted by Marios Siappas on Fri, Aug 17, 2018 @ 08:45 AM

Remember the cobrador del frac? Spain’s frock-coated debt collectors took an elaborate name-and-shame approach that emphasised recovering money by any means necessary. It summed up the biggest problem with debt collection: efficiency and customer experience have too often been secondary considerations at best.

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How does technology help develop the most effective pre-delinquency strategies?

Posted by Marios Siappas on Wed, Aug 08, 2018 @ 01:47 PM

The common conception of collections is as a historical activity. A debt was owed and is now delinquent. So it’s the act of rectifying a historical account.

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Tags: debt collection

Is AI the answer to better debt collections?

Posted by Marios Siappas on Mon, Jul 30, 2018 @ 11:02 AM

Remember the cobrador del frac? Spain’s frock-coated debt collectors took an elaborate name-and-shame approach that emphasised recovering money by any means necessary. It summed up the biggest problem with debt collection: efficiency and customer experience have too often been secondary considerations at best.

Debt collection practice is modernising around the world, though. Italy, Spain, Germany, France and Belgium show the greatest propensity to up their game among the Eurozone nations, while China, India, Indonesia, Mexico and Brazil are leading the pack be

yond. Customers are becoming the key consideration for banks, and technology is improving efficiency across the board.

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Tags: Tech's Role in Debt Collections, artificial intelligence

All about data: What global data regulations mean for debt collections processes

Posted by Marios Siappas on Fri, Jul 20, 2018 @ 01:08 PM

 

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Lessons for the utilities sector about debt recovery best practice

Posted by Marios Siappas on Fri, Jun 15, 2018 @ 03:22 PM

 

Debt recovery in the utility sector has an image problem. There is considerable public concern across the globe about rising energy prices, with some governments stepping in to address the fuel poverty debate. As a result, utility companies receive little sympathy as they attempt to resolve unpaid energy bills.

All of this against a background where bad debt in the UK energy industry rose 60% in the five years to 2016, and a recent survey by Go Compare suggested that as many as 1.4 million people have utility bill debt. Elsewhere in Europe, an estimated 5.1 million Spaniards struggle to heat their homes in the winter months, with 4.2 million of them behind with their bills.

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More or less? Are strict regulations good or bad for debt recovery?

Posted by Marios Siappas on Wed, May 30, 2018 @ 11:12 AM

Regulation is often used in political scaremongering. There’s too much red tape in the business world, according to some. And in certain cases, that may be true. Especially when it comes to the legal complexities of debt collection.

But is more regulation (or less, for that matter) inherently bad for collections? It’s possible to speculate at length, but the best route is to examine the varied regulatory regimes across the world.

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Tags: collections and recovery

The global psychology of promises and what that means for your kept promise ratio

Posted by Marios Siappas on Thu, May 24, 2018 @ 07:57 AM

I promise.

It’s one of the most solemn word pairings in the English language. It’s personal. We make promises in our private lives, at work, to ourselves.

Promises carry a tangible psychological weight. Numerous psychological and economic studies show just how seriously we take making (and breaking) promises, and how promises greatly enhance cooperative behavior.

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Tags: collections and recovery

Lessons learned: The real cost of getting collections regulations wrong

Posted by Marios Siappas on Fri, May 11, 2018 @ 05:05 PM

It’s possible to create a collections process that is super-efficient in its infrastructure, process, and service while maintaining strict adherence to banking regulations.

Where the collections process falls down, however, is when banks ignore these regulations, whether purposefully or because their systems for managing debt collections are out of date and not fit for purpose.

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Tags: collections

How to sell-in debt collections software to your executive team

Posted by Marios Siappas on Wed, Apr 18, 2018 @ 01:04 PM

Building a business case for debt collection software isn’t all about facts and figures. Even if you recognise the indisputable benefits of collections software, your decision-makers’ perspectives are likely to be very different.

Presentation, then, can be the difference between buy-in and bust. Here’s everything you need to know when building a business case for debt collections software for your executive team.

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EXUS Insights: Saudi Arabia and UAE tops for tough debt collection, report says

Posted by Marios Siappas on Thu, Apr 12, 2018 @ 05:10 PM

Saudi Arabia and the UAE are the most difficult countries in which to collect debts, according to new research – but they’re far from alone.

China, Russia, Malaysia and South Africa also scored badly, appearing in the “severe” category for complexity of debt collection. The difficulties in these diverse nations stem from the same three areas: payment terms, court practices and insolvency regulations.

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