WEBINAR: Accelerate effective collections with digital transformation
Credit Connect’s first webinar of 2020 saw the theme of business transformation within collections discussed at an event hosted by Credit Connect in association with Lightico.
Collections professionals from banks, motor finance, utility firms, debt collection agencies, fintechs and credit managers were amongst the viewers.
FEATURE: Why Credit Managers can’t afford to ignore AI and ML
The adoption of artificial intelligence (AI), robotic process automation (RPA) and machine learning (ML) is increasing across the finance sector. This is being driven not only by a growing number of use cases but also the significant benefits these technologies offer, for instance, PwC has found that 54% of executives say AI tools have boosted productivity. Yet, despite AI and ML being widely used across many areas of the finance sector and the great potential these technologies offer, their adoption within credit management has been much slower, but why?
REPORT: Business Payments Barometer 2019
The 2019 Business Payments Barometer analyses the latest trends and most burning payment initiatives set to impact organisations of all sizes. Now in its fourth year this annual index surveys over 400 financial decision makers across Great Britain.
The report provides insight into the areas of most concern to financial decision makers, and highlights the challenges that organisations have on the agenda. The 2019 research highlights the lack of understanding around new payment initiatives and the escalating impact of payment fraud on businesses.
Read the 2019 Payments Barometer to uncover:
- Are real-time business payments set to soar?
- Are companies being hit harder, losing more & recovering less when it comes to fraud?
- Do businesses understand the impact of the changing payments landscape?
- Whose responsibility is sanctions-checking anyway?
Key highlights over the last three years include:
- The impact Brexit has had as a driver of change
- Small to medium businesses claiming slow payer ethic as their greatest payment challenge
- Over half of business revenue was negatively impacted by financial fraud
FEATURE: Innovations to enhance Lending decisioning
The current lending market has seen the emergence of software developments that help to streamline processes for loan origination and credit assessment.
Increasingly, shifting consumer expectations and technology-led changes in the industry have taken financial institutions to be increasingly aware of the need to update their practices and make way for innovation, that can help to streamline the journey and enhance customer experience.
REPORT: AI for Risk Management
What is the future of AI in the Risk sector? AI has the potential to revolutionise risk management. So how can lenders overcome the barriers to adoption and implement controllable, explainable AI technologies? Find out more in this report.
FEATURE: AI tools legal firms need to have on their radar
Having already made significant progress across industries like finance and healthcare, I believe artificial intelligence (AI) is naturally placed to radically transform the legal sector. Indeed, the pace of technological change in the last decade means that businesses are constantly exploring new AI-driven solutions to help them gain a competitive advantage and survive in the ever-changing marketplace. Legal organisations are no exception.
FEATURE: Why customer experiences matter for collections communications
Traditional, call centre-focused debt collection practices are becoming a thing of the past, as more and more debt collection agencies (DCA’s) turn to multi-channel communication strategies to improve customer experience and increase engagement.
REPORT: The Future of AI Risk
What is the future of AI in the risk sector? If you have recently attended any conferences or industry events, you have probably already heard a lot about AI. Claims about AI seem to be a hot topic at the moment! This report looks at the AI in Risk…
it ‘one of the most important things humanity’s working on. It’s more profound than…electricity or fire.’ As far as bold statements go, we’d say Pichar’s comment is right up there
FEATURE: Credit to customer communications
Debt collection is undergoing fundamental changes. In the last six months alone, there has been a ream of calls for a new, “ethical” approach to debt collection, led by the Treasury Select Committee, local authorities and organisations including Citizens Advice and the Money Advice Service….
REPORT: UK European Payment Report
Companies around Europe predict increased bad debt losses, later B2B payments and higher debt risks are ahead, according to the European Payment Report…
REPORT: Financial Vulnerability – UK Collections will consumer vulnerability bankrupt the recovery agent sector?
In this short report, Elanev explores the main challenges facing the UK collections sector with focus on vulnerability and the impact of complaints.
REPORT: IFRS 9 Stress Testing: lessons learnt from the first round
In this short guide, Jaywing explores the main challenges that financial institutions are now facing as a result of IFRS9, and summarises the lessons learned from the first round of the CST conducted under the new accounting standards, as highlighted in the results published by the Bank of England (BOE) in December 2018.