Seamless and personalized communication is advisable for customer satisfaction in today’s digital era. However, lenders often face challenges in meeting the rising expectations of their customers. This is where the “phygital” experience becomes beneficial....
Credit card debt is the third leading cause of debt collection complaints according to Consumer Financial Protection Bureau. This is concerning for lenders as more complaints indicate delayed debt recovery. It could lead to reduced fund inflow which negatively...
According to Statista, consumers are increasingly searching for business process outsourcing companies that provide various services, especially back-office operations. Back-office outsourcing refers to the practice of contracting a third-party company to handle the...
According to data from the Federal Reserve Bank of New York, credit card debt has increased by $27 billion over the past year, reaching a total of $1.14 trillion. The increasing credit card debt presents a significant opportunity for lenders to offer innovative debt...
More than 73 million Americans currently have debt in collections. This staggering statistic highlights the importance of effective debt collection practices for delinquent payments. For lenders managing their own debt collection, your role is critical in recovering...
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