While some banking functions may get through the COVID-19 pandemic and return to something approaching normal, this can’t happen in debt collection.
We need to make systemic change in order to not only meet expectations on collecting debt, but also to build customer relationships rather than destroying them.
In this article, Bruce Curry of FICO explains four ways debt collection must change in order to better identify vulnerable customers, assess affordability, communicate with customers and make every treatment more tailored and effective.
