The last decade has seen procurement evolve into a vital strategic function in the banking sector. These days, procurement is about more than simple cost-cutting. Economic tumult, tight budgets, demanding customers and increased competition require a procurement team more involved in up front, stra ...

EFS

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 ...

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 ...

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 ...

Debt recovery in the utility sector has an image problem. There is a considerable public concern across the globe about rising energy prices, with some governments stepping in to address the fuel poverty debate. As a result, utility companies receive little sympathy as they attempt to resolve unpaid ...

EFS

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