EXUS Collections & Recovery Blog

The 4 Steps to Customer Segmentation

Posted by Nikos Lambrou on Thu, Mar 23, 2017 @ 01:00 PM

Customer segmentation refers to the strategy of dividing customers into groups based on characteristics to better tailor messaging and communicate to each audience. These characteristics might include type of debt, amount of debt or location.

It’s important for collections departments to segment customers because they have complex differences. Each customer is in a different collections stage and a unique financial situation. Segmenting resolves obligations in a way that resonates with customers while improving collections rates. 

Continue reading to learn the four steps to implementing customer segmentation at your organization. 

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Tags: Self-Service

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

5 Fintech Startups to Watch

Posted by Michael Melachrinidis on Wed, Jan 27, 2016 @ 10:00 AM

Many fintech companies are startups that embrace the mobile economy and use technology to streamline traditional banking services. By creating solutions that serve customers better and faster, fintech is earning market share from traditional retail organizations. That’s because fintech companies heavily emphasize mobile and web systems to create more efficient, customer-friendly outcomes.

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Tags: Self-Service