Traditional utility firms are finding themselves at a crossroads in 2019. One path leads down the road of tradition - with outdated legacy systems, face-to-face collections and antiquated customer service solutions. The other follows close behind the retail banking industry into a digital future whe ...

There is barely an industry on earth that hasn’t been powerfully disrupted by technology. For some, the disruption has proven beneficial and they have emerged on the other side leaner, healthier and ready to face the next century with a wider smile and a more customer-centric attitude. Whilst retail ...

Colin Dinn, the CTO of Siam Commercial Bank (SCB) - Thailand’s largest retail bank - joined the organisation in April 2016 with a big remit: to build new technological capacity and help create “Thailand’s most admired bank”. Achieving this required a ruthless audit of all of SCB’s existing systems, and for Dinn, a key target was the bank’s existing collections software.

While millennials are still maligned by the media, the truth of the matter is that many are settling comfortably into their thirties as we speak. Indeed, some are already parents themselves.

This is a demographic with definite purchasing power. It’s also a demographic in a lot of debt. And the problem is evident worldwide.

 

EFS

Cybersecurity has loomed over the retail banking industry and its debt collections processes for years as more high-profile cyber-attacks continue to hit the headlines.

Debt collections records are very sensitive as they contain a significant amount of financial information about customers. This makes retail banks who offer loans, credit cards and mortgages the perfect target for cybercriminals.

Financial inclusion has long been a challenge in many countries across the Middle East and North Africa. For example, according to Egypt Today, just 14% of adults in Egypt have a bank account.

One recent UK banking trend that’s proven just as divisive as the political landscape of the country – Open Banking.

Despite an economic blockade placed upon the state by several governments, the Qatar banking sector has remained resilient over the last few years amidst an evolving regulatory landscape.

EFS

Every year, the debt collections and recoveries sector holds its collective breath as the Celent ABCD Vendor View on Retail Loan Collections Solutions begins landing on desks and desktops across the world.

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EXUS provides specialized software solutions for financial institutions, banking, telecoms, utilities.
For more information about our products and services please contact:  info@exus.co.uk