Boston, July 16, 2015 – Post-recession, U.S. consumers’ propensity to spend or borrow has dramatically reduced loan portfolio dollars and profits, but financial institutions’ debt collection work remains high. For most lenders, it’s a case of too much work and not nearly enough balances. New risk management regulations tap FI resources and budgets, and IT budgets continue to be constrained even while vendors promise relief. Can lenders spend creatively to improve financial performance through strategic enhancements?
Based on Aite Group discussions and interviews, this research examines key macro trends impacting debtors and creditors, explores the challenges that restrain IT budgets, and offers competitive insight into overall market size, key collections and recovery benchmarks, and IT budget plans.
This 22-page Impact Note contains 10 figures and two tables. Clients of Aite Group’s Retail Banking & Payments service can download this report.