EXUS Collections & Recovery Blog

How to Manage Delinquent Credit Across the Entire Loan Cycle

Posted by Chris Maranis on Wed, Dec 13, 2017 @ 11:05 AM

Debt collection is in trouble - especially when it comes to delinquent credit. According to figures from the International Monetary Fund’s Global Financial Stability Report, non-performing loans make up 3.925% of total gross global loans.

While this figure is down from its high of 4.064% in 2014, certain countries exhibit a far more worrying ratio: countries such as San Marino at 43.4%, Greece at 36.3% and Sierra Leone at 30.7%.

According to the Supervisory Banking Statistics Fourth Quarter 2016, the average rate of non-performing loans of large European banks stood at 6.17% - a figure that is growing, and that dwarfs countries such as Japan and the US which saw rates of just 1.5% during the same time period. The cost of servicing a delinquent loan, say Gartner, now stands at 15 times the cost of servicing a performing loan.

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

4 Needs for Next-Generation Debt Collection Solutions

Posted by Chris Maranis on Tue, Jan 31, 2017 @ 02:05 PM

The right offer delivered to the right customer at exactly the right time. It is more important than you could ever imagine. Customers use multiple channels to communicate and resolve debt obligations. They also may have multiple debt obligations with a bank or company.

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Tags: Collection and Recovery Software, Collection and Recovery Operations

Tech’s Role in Debt Collections: The Right Offer At The Right Time

Posted by Nikos Lambrou on Mon, Jan 30, 2017 @ 11:30 AM

Each stage of delinquency—soft, pre-litigation, litigation and recovery—requires a different approach to keep collections on track.

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Tags: Tech's Role in Debt Collections, Collection and Recovery Software

When it comes to debt collections, mobile technology can bridge the gap between banks and their millennial customers

Posted by Chris Maranis on Mon, Sep 12, 2016 @ 01:18 PM

Several years on from the world financial crisis, banks still have to deal with its consequences. Besides the financial impact and the damage to their reputations, banks have had to learn to operate in a new world – a world of flat economies and rising levels of customer debt. Non-performing loans have increased and customer indebtedness, in general, has been seen to have a significant effect on the banks’ net profitability. Increasing collection costs, growing bad debt write-offs, and the requirements for higher provisions against loan losses have all combined to make managing credit loss a key business driver, with a direct impact on the banks’ profits.

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Tags: collections and recovery, Self-Service, Collection and Recovery Software, collections, non-performing loan

What You Need to Know About the Loan Collections Technology Vendor Landscape

Posted by Marios Siappas on Mon, Jul 04, 2016 @ 10:30 AM

Loan collections costs are spiraling out of control, according to CEB TowerGroup - Now Gartner. Thanks to a variety of factors, including a fourfold increase in delinquencies from 2007 to 2010, the cost of servicing non-performing loans has skyrocketed. It stands at 15 times the cost of servicing a performing loan.

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Tags: Collection and Recovery Software

3 Reasons Why a Self-Service Solution is the Preferred Debt Collection Option

Posted by Michael Melachrinidis on Wed, Jun 01, 2016 @ 10:00 AM

Personal debt is something everyone handles differently. In a fast-paced and consumer-focused society, not all customers are receptive to collector outreach. Many consumers prefer to have non-interruptive, self-driven resolutions to their problems. This is especially true for sensitive matters like personal debt. 

To put it in perspective, you’re more likely to purchase something when you’re browsing on your own rather than when a sales person contacts you. You can apply this same frame of mind to paying off debts. Answering the phone about debt you owe is even more uncomfortable than an unwanted sales call. Consumers usually avoid this discomfort by not answering. As a result, nothing gets resolved. 

A self-service collections tool allows customers to manage their own debt obligations. Even better, banks that provide self-service as an option for customers increase collections rates, since customers can resolve obligations on their own time, in their preferred way. That’s because self-service tools give customers three major features they crave: control, convenience and mobility.

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Tags: Collection and Recovery Software

What to Look for In a Debt Collection Software Provider

Posted by Marios Siappas on Mon, Apr 04, 2016 @ 10:30 AM

Debt collection software can only solve so many problems without a solid team behind it. Implementation can take years if done incorrectly, as issues are time consuming and expensive to correct.

The better your software provider, the faster the implementation and onboarding process, and the sooner you see the desired return on investment. Picking the right one is essential if you want to achieve better debt collection results. Here’s what to look for when choosing a debt collector software provider. 

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Tags: Collection and Recovery Software

Why Do I Need a Self-Service Collections Solution?

Posted by Chris Maranis on Thu, Dec 17, 2015 @ 10:00 AM

People want to help themselves. That’s why debt collections organizations should seriously consider implementing a self-service collections tool.

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Tags: Collection and Recovery Software

Why Do Retail Banks in Africa Need Collections Software?

Posted by Chris Maranis on Tue, Oct 06, 2015 @ 10:00 AM
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Tags: Collection and Recovery Software

Why A Self-Service Solution Improves Collections and Recovery Performance

Posted by Nikos Lambrou on Tue, Jul 07, 2015 @ 11:00 AM

Today’s consumer wants to go his or her own way. The younger they are, the more they wish to undertake the consumer journey alone. A full 70% expect companies to have websites with self-service options. And companies that comply—even those in non-ecommerce businesses—see significant results: A typical utility could save $1 to $3 million a year by increasing self-service adoption rates, consultancy Accenture estimates.

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Tags: Collection and Recovery Software