Debt Collections Guides

Debt in the desert

The biggest challenges for the Middle East’s retail banking sector

After years of sluggishness and an aversion to risk, the Middle East’s banks have shifted into gear when it comes to digital. Changing consumer demands and international competition have spurred a new wave of innovation.
“Today, if I don’t have a digital strategy for my group, I’ll be out of business,” one Middle Eastern bank exec told Euromoney. Across the region, there seems to be an agreement that things must change. And they are changing – but challenges remain.
Cultural nuances and legal impediments often stand in the way of efficient debt recovery while stricter regulation has increased capital adequacy requirements, with the gradual adoption of Basel III regulations.

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How Startup Thinking Can Improve Your Debt Collections

Retail banks struggle with legacy systems and disruption from tech-led startups, but retail banking and debt collections can benefit from a new approach. 
Let’s take a look at the ways in which startups approach these issues, how the banking sector is already changing and how banks should use this thinking to deliver the best possible service across the board.

The UX of Debt Collections

All too often, using a bank’s system feels like going back in time. Banks need to modernise to address a fundamental disconnect between their processes and the modern world.
This EXUS' guide takes us back to the history of UX, talks about the behavioural economics of it and gives a holistic view of great UX in banking.

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The next five years of debt collections is not quantum computing, it is an evolution and increasing embrace of today’s disruptive technology. This EXUS' guide takes a realistic look at the future of debt collections in retail banking.
Let’s look at how the next 5 years will be formed for debt 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!
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.
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.
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. 

Download our presentation on slideshare to find out more!

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

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. 
Find out how the bank positioned itself for collections and recovery success with new tools and practices. Click here to learn more.
Download The Collections and Recovery Best Practices Manual to generate more revenue, improve collections and streamline operations.
Excellent communication with customers is critical to improving collections and recovery. Discover how collectors can communicate like pros with this free guide.
Download our free Collections and Recovery Software Purchasing Guide and learn how to choose, evaluate and purchase a C&R solution.
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".
Discover which technologies will help your business significantly reduce the cost of servicing non-performing loans in this free guide. Download it today!

Case studies

How EXUS reformed Watt + Volt's debt collection department, In less than two months.

Promise ratio went up by 27% and productivity increased by 30%

WATT+VOLT is one of the major traders and suppliers of electricity and natural gas in Greece. Since 2012, the company has been growing steadily, constantly evolving and adapting to the complex needs of the energy industry.

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How EXUS helped SCB innovate and streamline in quick time

"The cleanest implementation I've ever experienced"

Colin Dinn, the CTO of Siam Commercial Bank (SCB) - Thailand’s largest retail bank - joined the organisation in April 2016 with a big remit: to build new technological capacity and help create “Thailand’s most admired bank”. Achieving this required a ruthless audit of all of SCB’s existing systems, and for Dinn, a key target was the bank’s existing collections software.

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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.
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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.
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Infographics

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.