Collections Guides

The Cultural Considerations of Collections

“Money is a lot more than just a means of exchange or a store of value. It carries cultural weight, and as you move across cultures, attitudes shift quickly”.
Getting that right is one giant leap towards improving the performance of debt portfolios. Click here to Download the free guide!

The Psychology of Debt Collections

Debt collections has experienced a revolution in customer service over the last few years. Technology has transformed what used to be a stressful, antagonistic activity into a cooperative, consumer-led one. 

Let’s look at a few ways you can combine psychology with technology to build a truly successful collections operation.

Generic vs Specialised Debt Collections Software

It’s not quite the Rumble in the Jungle, but choosing debt collections software is a heavyweight title fight. 
Here’s the main event: you already know the experienced heavyweight. Banks have long relied on generic systems for debt collections. Now let’s see whether the leaner, more athletic contender can claim the championship in this twelve round title fight.

The Importance of Managing Collections Teams

In a collections and recovery operation environment, effective personnel management is not just a competitive advantage, but a strategic priority for forward-thinking collections departments. But how do you manage collections teams effectively? 
The Managing Collections Teams Manual is designed to help. 
 

Collections and Recovery Best Practices Toolkit

Download our presentation on slideshare to find out more!

6 Actionable Steps to Improve Retail Banking Collections & Recovery

Download the guide and evaluate how “best practices” employed by top financial institutions in the world can be adopted by your organisation.

Build your successful, digital, customer-focused debt collections channel

Client focus in debt collections isn’t just a nice-to-have; it’s a central component in successfully recouping delinquent debts.
The good news is there’s a better, more modern way. Download the Free Guide and get ready to build your debt collections channel. 

Learn How Mauritius Commercial Bank Improved Performance

Find out how the bank positioned itself for collections and recovery success with new tools and practices. Click here to learn more.

More revenue. Better collections.

Download The Collections and Recovery Best Practices Manual to generate more revenue, improve collections and streamline operations.

Increase Revenue with Better Collector Communication

Excellent communication with customers is critical to improving collections and recovery. Discover how collectors can communicate like pros with this free guide.

What You Must Know Before You Buy

Download our free Collections and Recovery Software Purchasing Guide and learn how to choose, evaluate and purchase a C&R solution.

A Secret Weapon for Collections Success

This collections technology is a secret weapon that banks, telecoms and utilities use to boost profits and kept promise ratios: Click here to download "Why Your Organization Needs a Self-Service Collections Solution".

 

Adopt These 4 Emerging Loan Technologies to Thrive

Discover which technologies will help your business significantly reduce the cost of servicing non-performing loans in this free guide. Download it today!

Increase Collections while maintaining Customer satisfaction

Are you ready to improve customer service efforts and make measurable impact on your bottom line results today?

We invite you to download a free copy of the handbook and increase your customers' satisfaction along with your collections results.

Case Studies

Southeast Europe bank improves contact rates and decreases service cost per customer using EXUS Collections Self Service

The problem

  • Difficulty to reach customers during working hours.
  • Strict regulatory restrictions were applied in terms of how often the debtor can be contacted.
  • When customers were contacted, collections agents found it difficult to propose on the phone complex repayment schemes and many alternative options for debt restructuring.
  • Some debtors felt uncomfortable having such discussions with the bank’s agents on the phone.

The Solution

  • Bank deployed new EFS product : EXUS Collections Self Service.
  • Bank offered a 24*7 online service to debtors for settling their debts, with all settlement / restructuring options available for reviewing without the “pressure” of an agent.
  • Debtors get detailed information per offering and select the most appropriate for them.
  • Debtors may also provide qualitative data (i.e. reasons for inability to pay).

The Results

  • Decrease in the number of customers that cannot be reached.
  • Decrease in the cost of service per customer.
  • Increase in acceptance rate of settlements options.

Join forces for better results with 3rd party portals

The Problem                                     

  • No insight on actual team working on assigned portfolio.
  • No way to monitor agency performance and interact in real time.
  • No means to enforce bank’s contact strategy.
  • Disputes over calculating commissions.
  • Moderate performance of 3rd parties.

The Solution

  • Bank deployed the Outsourcing module of EXUS Collections.
  • Bank offered an online access to each DCA’s portfolio through the web.
  • Each DCA used its own CTI Infrastructure and dialer software, integrated with EXUS Collections in real time.

The Results

  • Seamless integration with all DCA’s,
  • Real time monitoring and adjustment of account handling prioritization.
  • Reduced number of complaints.
  • Fully automated process for calculating commissions.
  • Reduced bucket flow to higher buckets.

EXUS Collections

Click here to learn more about EXUS Collections.

EXUS Blog

Fear of bankruptcy, and what it means for banks in Southeast Asia

Posted by Dimitris Vassiliadis 

In many Southeast Asian countries bankruptcy is still seen as one of the great taboos and the idea of owning up to one’s debts is frowned upon.
From a cultural perspective, admitting any flaws, weaknesses or imperfections goes against the region’s social norms, and bankruptcy just might be perceived as the ultimate failure by many. This is why there is such a grey cloud around it in Asian culture, particularly in Asian banks.
But what are the implications of this fear? And how could banks in Southeast Asia be improving their debt collections practices in response to it?
Read more

Get in Touch

EXUS Loan Collections Software can provide specialised solutions for financial institutions, banking, telecoms, utilities and hospitality sectors.  Contact us at info@exus.co.uk for more information.