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Consumer Finance Collection in UK, Ireland & Spain: Sweet Spot for IT Vendors in the Current EconomyPublished by: TowerGroup Published: Mar. 16, 2009 - 12 Pages Table of Contents
AbstractWestern European financial services institutions' expenses for collection technology and services are expected to double by 2012 as historical underinvestment strains banks' operational capabilities.The bursting of the housing price bubble has left the United Kingdom, Ireland, and Spain particularly hard hit by loan delinquencies, with the volume and mix of delinquent accounts growing rapidly. In current market conditions, the collection function is changing from a cost center to a more strategic function as banks seek to minimize the impact of their nonperforming loans. Providing the necessary environment for collection operations as delinquencies rise is causing more banks to look to outsourcing, but this option requires banks to have different skill sets that may not be available. Managing predelinquent borrowers is a key differentiator as more lenders chase debt from the same individuals and governments put payment deferral measures in place for consumers. Customer insight from both internal and external data sources is essential to identify pre-delinquency, but accessing, managing, and analyzing internal data remains challenging Get Full Details About This Report >> |
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