target audience: TECH BUYER Publication date: Aug 2023 - Document type: IDC PlanScape - Doc Document number: # EUR251164423
IDC PlanScape: The Collections Function in a Digital-First World
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Abstract
"The collection function is an often-forgotten candidate for making better use of modern digital tools such as data and predictive and behavioral analytics. These digital tools will enable old-fashioned segmentation techniques to be revamped into a more personalized approach, while enabling a better customer experience and improved retention rates. Crucially, their deployment will also lead to a decrease in redefaults and help lenders meet regulatory requirements for a more inclusive collections policy." — Research Director George Briford, Financial Services Insights, IDC