Boston, October 29, 2015 – Post-recession consumer credit demand may be muted, but uncollected debt lingers, debt buyers remain, and the market needs tools that greet regulators’ strong focus on collections and recovery, also known as C&R. Despite low industry interest in fully replacing entrenched C&R platforms, significant IT changes now point the way for many institutions to up their C&R game. Whether through innovative practicality, analytics, or overlays, a few strong vendors offer the sweet promise of better returns, less work, and reduced pain.
This research considers new tools emerging as a result of increasing institutional and regulatory pressures surrounding C&R. It identifies and profiles six promising solutions for the U.S. consumer debt collection industry from technology companies CGI, CMC, Early Warning, FICO, FIS, and LexisNexis Risk Solutions. It is the second in a series of two reports focusing on U.S. debt collection—find the first here.
This 29-page Impact Note contains eight figures and eight tables. Clients of Aite Group’s Retail Banking & Payments service can download this report.