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If 2020 taught us anything it’s that forecasts are far from an exact science. Indeed, this time last year, many of the predictions being made in even the most revered financial circles were being subtly undermined.

Regulation is often used in political scaremongering. There’s too much red tape in the business world, according to some. And in certain cases, that may be true. Especially when it comes to the legal complexities of debt collections. But is more regulation (or less, for that matter) inherently bad ...

Navigating the world of collections can be daunting for an auto finance lender of any size. There’s an exhausting list of laws, regulations and processes to be considered, not to mention the staffing and expertise required to be successful. Despite the obstacles, it’s critical an auto finance lender engaged in any type of lending activity have a solid collections strategy, processes and tools in place. A healthy, viable collections strategy will create efficiencies and maximize recoveries – while keeping your lending program thriving in tandem.

Teleworking – “work-from-home” or “home-office” – has been a necessary practice for many firms and workers during the lockdown period of the COVID-19 crisis. During this phase, societies have undergone a large scale “forced experiment” where sectors, firms and people have continued to operate while being physically separated, provided they had the necessary technological, legal and digital security conditions. 

Traditional utility firms are finding themselves at a crossroads in 2020. One path leads down the road of tradition - with outdated legacy systems, face-to-face collections and antiquated customer service solutions.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 ...

Remember the cobrador del frac? Spain’s frock-coated debt collectors took an elaborate name-and-shame approach that emphasised recovering money by any means necessary. It summed up the biggest problem with debt collections: efficiency and customer experience have too often been secondary considerati ...

While the impact of COVID-19 cannot be denied, this is not the only crisis impacting the world economy. It’s been a little over a decade, for example, since the last global financial crisis, and many countries have faced conflicts and natural disasters in the interim.

The world has been thrown into crisis by a pandemic of unprecedented scale. And it’s not only people’s health that’s suffering – businesses and individuals are seeing major financial difficulties.

Covid has made it ultra difficult for debt collections teams to do their jobs. More people than ever will be struggling to make payments, and thinning call centre and other staff will make it harder to prevent people from going into arrears or to manage their accounts in the best way for businesses and debtors alike.

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.