The right offer delivered to the right customer at exactly the right time. It is more important than you could ever imagine. Customers use multiple channels to communicate and resolve debt obligations. They also may have multiple debt obligations with a bank or company. Your business can’t read min ...

Each stage of delinquency—soft, pre-litigation, litigation and recovery—requires a different approach to keep collections on track. When lenders have insight into a customer’s stage of delinquency, they can make the right offer at the right time. This improves collections performance, increases the ...

EFS

The debt collections and recovery industry is one of today’s most vital and fast-paced business segments. Unfortunately, many collections businesses still employ traditional practices like cold calling, while attempting to compete in an increasingly complex world.  Outmoded practices and disparate ...

EFS

Social media is an important factor for any retail banking organization’s success—whether or not you're already using debt collection software to build a multichannel approach to customer communication. It’s important to have a social media presence and represent your organization in the best way p ...

EFS

Billionaire Warren Buffett once said, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”  Unfortunately, too many collectors don’t think about that, and as a result, they don’t do things differently. Many organizations and t ...

EFS

Customer service doesn’t get the attention it should in collections circles. After all, “customers” in this case are usually debtors who owe the organization money from one or more obligations. Why would we focus on anything other than collecting as much as possible, as quickly as possible? That us ...

EFS

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 h ...

Once upon a time, the customer-bank relationship was a single channel. Loan products were straightforward. And consumer debt relationships typically occurred between a few parties.  My, how times have changed. Collections is now: Multi-channel, taking place across phone, email, social media and ...

Loan collections costs are spiralling out of control, according to CEB TowerGroup - Now Gartner. Thanks to a variety of factors, including a fourfold increase in delinquencies from 2007 to 2010, the cost of servicing non-performing loans has skyrocketed. It stands at 15 times the cost of servicing a ...

EFS

When a customer moves into the delinquency phase, it’s harder to get them to pay off debt. That means prevention is a top collections strategy. After all, stopping customers from entering delinquency improves outcomes faster than recovery strategies.  Could your organization do more to prevent deli ...

EFS

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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