Identity, banking and technology: what collections teams need to know Facing into the future of identity, banking and technology. In a world where you can access mobile banking in the blink of an eye, the technology used to identify customers still falls far behind. While every other element of ba ...

EFS

By now, banks are used to fintech scare stories. It’s all challengers, startups and open banking. The new guys, it’s said, are coming for the incumbent banks. Truth is that for now at least, these challengers struggle to match the power of an established bank. The more likely result is a partnershi ...

On the surface, the finance sector might seem equitable: over half of the world’s employees in the financial services sector are female. Drill deeper though, and a new picture emerges. While the gender split, in terms of sheer numbers, is about right, leadership positions take on an altogether more ...

The US economy is the largest in the world. Its nominal GDP sits at $19.42 trillion (25% of GDP for the entire world), and the US dollar is the go-to currency by which economies are measured and compared. Its commercial banking sector is similarly impressive, with annual revenue fast approaching th ...

Singapore has a problem with credit cards. Specifically, it has a rising problem with bad credit card debt that has to be written off: $20.74 million as of March of this year, according to the country’s Monetary Authority. While credit card debt constitutes a modest 2-3% of household debt in Singap ...

The common conception of collections is as a historical activity. A debt was owed and is now delinquent. So it’s the act of rectifying a historical account. This conception is right, to an extent. That’s certainly a large part of the process. But it’s not the full picture. We’ve written before abou ...

The British cycling guru Dave Brailsford famously introduced the idea of ‘marginal gains’ to professional cycling. The logic goes, according to Brailsford, that when you improve every little thing by 1%, you'll get a significant overall increase in performance. Brailsford’s Team Sky went to extreme ...

Since the General Data Protection Regulation (GDPR) came into force across Europe, data security has become a hotter topic than ever. The biggest data breaches of 2018 so far have involved millions of users - and some of them have displayed startling negligence. FedEx, for example, stored customer d ...

Adam Smith, the pioneer of political economy and arguably the first modern economist, claimed that a certain level of trust is vital for any transaction to take place. If we can’t trust the butcher to give us quality meat, we have to inspect cows and abattoirs and slabs every time we buy any - which ...

EFS

The story The constitutional crisis in Italy was induced by the March general elections, which saw anti-establishment parties Lega and the Five Star Movement grow dramatically in vote share. Both endorsed an economic plan that hinged on Italian withdrawal from the EU. Over the last two months, pol ...

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