Strategies and solutions to modernize your operation and optimize results

Amid continued economic pressures including rising interest rates and inflation, many consumers are struggling financially, leading to an increase in collections volumes. As such, lenders and creditors are looking to drive better financial outcomes for their customers — resulting in more focus on the back end of the customer journey, particularly account management and collections. For FIs hoping to retain more customers and boost profitability, creating strategies to assess and ultimately modernize internal first-party collections processes is a smart place to start. In this playbook, we outline components of and provide best practices and tools for efficient first-party collections, including: