EXUS Collections & Recovery Blog

Marios Siappas

Recent Posts

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is when banks ignore these regulations, whether purposefully or because their systems for managing debt collections are out of date and not fit for purpose.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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Debt collectors: It’s about the right tools

Posted by Marios Siappas on Thu, Apr 05, 2018 @ 02:34 PM

The story

Between bailouts, government collapses and populist revolt, it was easy to miss one of the more curious stories of the 2008 financial crisis.

In Spain, debt collectors clothed in tailcoats and top hats (or disguised as clowns and matadors) became a common sight during the crisis. In a time where everyone suffered, Spain seemed to feel the economic pain the worst. The country’s unemployment rate ballooned from 8% in 2008, to nearly 25% in 2012.

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EXUS Insights: The Global Debt Bubble

Posted by Marios Siappas on Wed, Mar 28, 2018 @ 02:32 PM

The story

Only a decade after the Great Recession, danger seems to be looming once again.

In his parting shot before stepping down as Germany’s Minister of Finance, Wolfgang Schäuble warned that spiralling levels of global debt and liquidity present a big risk to the world economy.

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Chatbots v Live Chat v Call Centres: Which is better for debt collections in retail banks?

Posted by Marios Siappas on Thu, Mar 08, 2018 @ 11:32 AM

The banking and finance sector is ablaze with chatbots. Bank of America, HSBC, Wells Fargo, Swedbank, Capital One – these are just a few examples of major banks that have (or are set to) release customer service chatbots.

For banks, bots are a cost saving; for customers, they are a simple and instant way to resolve issues. The hype is there, but how have chatbots performed in practice? And can human-led customer service channels (like call centres and live chat) still offer value in the debt recovery process?

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CRMs are not the answer to better debt recovery. Here's why...

Posted by Marios Siappas on Tue, Mar 06, 2018 @ 01:57 PM

It may be ten years since the global financial crisis shook the world, but banks and consumers are still grappling with the repercussions.

With multiplying non-performing loans, limited credit availability, and customer debt rising rapidly, debt collections and credit risk management have become a major focus for many financial institutions.

Although awareness is high, the CRM solution currently used by many banks are unable to aid and manage the debt recovery process.

CRM software offers a rudimentary solution to a complicated and ever-evolving problem. It is not the answer to more consistent, economically-sound debt management.

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Crush Your Competitors With A Super-Efficient Collections Process

Posted by Marios Siappas on Thu, Jan 18, 2018 @ 10:47 AM

Computer and money.jpg

When it comes to technology, early adoption doesn’t always lead to ongoing efficiency.

Britain’s railway system, for example, is the oldest in the world, with wagonways first built in the 1950s. Now, though, the system is out of date, and proving tricky to improve. Just 34% of British train lines are electrified, the trains and carriages used are 21.1 years old on average, passenger complaints are on the rise and just 62.5% of British trains arrive at station stops on time.

The Japan National Railway, on the other hand, was privatised in 1987, with much work done to improve its infrastructure in the years since. As a result, the average length of delay is just 0.9 minutes on the Shinkansen line, and Japanese trains are built with a lifespan of a maximum of 15 years to keep things new.

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Tags: Retail Banking, Collection and Recovery Operations, Telecoms, Utilities

Put an End To Late Payments: The Secret to Boosting Collections Results

Posted by Marios Siappas on Tue, Jun 13, 2017 @ 11:00 AM

Nearly a quarter of small and medium businesses in the UK could face insolvency because of one thing, reports The Telegraph. They’re not getting paid. Late payments and overdue invoices are piling up for these businesses. A full 22% of these obligations are owed by large companies.

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Tags: Collection and Recovery Operations

How to Create an Effective Collections Personnel Capacity Plan

Posted by Marios Siappas on Thu, Feb 23, 2017 @ 09:00 AM

Capacity planning is commonly used in business computing and information technology. Simply put, it’s a process that helps determine what resources a business will need to satisfy the changing demands for its products. In a collections department, personnel capacity planning helps your organization understand how many employees you need to manage a certain number of accounts, including accounts today and those projected for the future.

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Tags: Collection and Recovery Operations