2018 is a huge year for the banking and finance sector, both for large institutions and individual citizens. In Europe, Brexit is on the horizon. In the US, consumer spending is set to slow as the growth rate of real disposable income also slows. China’s debt bubble looms large while ‘Political instability threatens to derail MENA’s blossoming economic recovery’, according to the world’s leading economists.
For a debt collections industry where the global average of non-performing loans rose over half a percent from 6.99% to 7.07% in 2016, and the cost to service a delinquent loan is now fifteen times the cost of servicing a performing loan according to Gartner, alarm bells should be ringing.