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Key Takeaways
The debt collection industry is experiencing several trends: a plateau in roll rates, a rise in debt settlement work, and a significant shift towards debt purchasing.
There is a strong focus on digitalisation, automation, and AI to enhance efficiency and customer experience.
The market is seeing increased consolidation and a rise in offshoring to improve cost efficiency.
Quality of service may become a greater priority as the industry evolves beyond mere cost considerations.
Key Statistics
Self-service payments in the debt collection industry range from 30% to 70%.
The average call handling time is approximately 19 seconds.
Key Discussion Points
Balancing digital solutions with human interaction in debt collection.
Challenges related to data management and integration within debt collection operations.
The influence of regulations on the adoption of automation and technology in the industry.
The cyclical focus between cost e...
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