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

Personal debt is something everyone handles differently. In a fast-paced and consumer-focused society, not all customers are receptive to collector outreach. Many consumers prefer to have non-interruptive, self-driven resolutions to their problems. This is especially true for sensitive matters like ...

EFS

Incentivizing your employees is a way of motivating them to perform to the best of their abilities. Collections departments are no different. Even after proper training, collections professionals need daily motivation to excel. When they have it, they perform better and achieve higher collections r ...

EFS

In a perfect world, debtors would pay what they owe and collectors would have better results. But in many debt scenarios and environments, the only element you can control is how your collections department works. Even a gain of just a few percentage points in collections performance delivers serio ...

EFS

Get in Touch

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