Collections costs are spiraling out of control. There has been a fourfold increase in delinquency rates from 2007 to 2010, according to consultancy Gartner. As a result, the cost to service a delinquent loan is 15 times greater than that of servicing a performing loan.
Controlling loan servicing costs is a mission-critical priority for organizations that want to protect profits and grow. But process improvements alone are not enough to close the gap between the cost of servicing a delinquent loan and a performing one.
The solution is adopting the right technology from the emerging loan collections technology landscape. Our free guide, The Future of Debt Collections: What You Need to Know, will show you which technologies matter most. It contains:
The numbers don’t lie: there has never been a more important time to invest in emerging loan technology. Find out today which ones provide the best ROI.
Download the report today by filling out the form on the right.