2024 Collections Benchamarking
An interesting dicussion that the Credit and Collections Technology Think Tank for 2024. Certainly some bit themes around data, transparency of process and honesty in communication, all to build trust with customers over the longer term.
Regulation and regulatory compliance was a big topic, reflecting the volume of change underway. Likely to continue as a theme into 2025.
The Global Collections Benchmarking study is also out. If you would like a copy of the 2023 report and would like to take part in 2024, click on the QR code/link here.
Key takeaways from each session
Session 1: Credit and Collections Risks
The ongoing cost-of-living crisis has led to financial strain and higher arrears, especially in council tax and priority debts.
Some consumers are adapting to financial pressures by changing spending habits or using alternative credit options such as "buy now, pay later."
Persistent regulatory developments are adding administrative costs and ...
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