EXUS Collections & Recovery Blog

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.

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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.

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The rise of retail banking in Vietnam is a good thing...if there’s a debt collections strategy to match

Posted by Dimitris Vassiliadis on Thu, Jun 13, 2019 @ 08:42 AM

Vietnamese society is changing shape rapidly. Generation Z now make up 25% of the country’s 15 million-strong workforce, and the figure is growing.

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Vision 2035: The bold plan to transform Kuwait - and what that means for banks

Posted by Dimitris Vassiliadis on Thu, Jun 06, 2019 @ 12:31 PM

For many years, the countries of the Gulf Cooperation Council have followed an oil-based development model. The black stuff has been, as LSE economist Sophie Olver-Ellis put it, the "elixir of life" for many of the region's economies.

This has been particularly true for Kuwait. Oil has transformed this small nation on the Arabian Peninsula from a prosperous trading port into an oil-exporting powerhouse with a highly developed, albeit non-diverse, economy.

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Southeast Asia’s banks are growing - but there’s danger ahead

Posted by Marios Siappas on Thu, May 23, 2019 @ 08:38 AM

Amid the cut-and-thrust of international banking, it’s hard to set a truly global benchmark for the world’s biggest banks. With the sheer diversity of local markets, it’s not always possible to compare apples with apples.

By one’s region’s standards - say, the well established Western Europe banking industry - the movements in a developing territory like Southeast Asia might seem small by comparison. But an educated observer would recognise the dynamism and potential present within Southeast Asia’s banking scene at the moment.

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Steady disruption: The new normal for Southeast Asian banks

Posted by Marios Siappas on Thu, May 16, 2019 @ 10:18 AM

The digital banking revolution is all about keeping customers happy. In order to do that, banks need to “have compelling value propositions for the customer,” according to Siam Commercial Bank’s president Arak Sutivong. In order to present value in 2019 and beyond, disruption is required.

We often think of disruption as a sudden change, predominantly because of the rise of tech startups. Uber changed the way we take cabs, Airbnb revolutionised holidays, Netflix disrupted our viewing habits. In fintech, companies like Monzo in the UK or Alibaba in China have introduced digital-first products that have made waves in the industry almost overnight.

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"The cleanest implementation I've ever experienced" - How EXUS helped SCB innovate and streamline in quick time

Posted by Dimitris Vassiliadis on Thu, May 09, 2019 @ 12:34 PM

Colin Dinn, the CTO of Siam Commercial Bank (SCB) - Thailand’s largest retail bank - joined the organisation in April 2016 with a big remit: to build new technological capacity and help create “Thailand’s most admired bank”. Achieving this required a ruthless audit of all of SCB’s existing systems, and for Dinn, a key target was the bank’s existing collections software.

When he was appointed, SCB was nearly three-quarters of the way through a marathon five-year implementation process of a new debt collections system. “The day they fully implemented it was the day I said we’re going to replace it,” he says.

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