EXUS Collections & Recovery Blog

Marios Siappas

Recent Posts

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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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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Digital transformation in APAC: How will it change debt collection in the region?

Posted by Marios Siappas on Sun, Oct 28, 2018 @ 10:00 AM

Digital transformation is big news in the Asia-Pacific region (APAC). In 2017, around 6% of the region’s collective GDP was derived from digital products and services; Techwire Asia predicts this will increase ten times over by 2021, with a predicted economic contribution of over $1 trillion.

Beyond raw economic growth, digital transformation brings operational changes to every industry. An IDC survey, sponsored by Microsoft, predicts that 85% of jobs in APAC will change significantly: business leaders are already looking to increase agility to meet the new challenges in cybersecurity, data processing capability and integrating technologies like AI and the IoT.

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Age and debt collections

Posted by Marios Siappas on Wed, Sep 26, 2018 @ 04:46 PM

The media loves chronicling the differences between generations. Each day brings a new headline or scare story, casting some aspersion onto people older or younger than us.

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Gender: Is it sexist to customise your debt collection approach based on sex?

Posted by Marios Siappas on Tue, Sep 18, 2018 @ 02:49 PM

On the surface, the finance sector might seem equitable: over half of the world’s employees in the financial services sector are female. Drill deeper though, and a new picture emerges.

While the gender split, in terms of sheer numbers, is about right, leadership positions take on an altogether more masculine veneer. Women hold only 25% of senior management roles in the global Financial Services industry.

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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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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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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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