Step into the future of debt management with our exploration of how artificial intelligence (AI) is reshaping the industry. Discover how advanced algorithms and machine learning are empowering individuals and organisations to handle debt more effectively through a data-driven approach. From enhancing customer engagement and maximising recovery rates to personalised customer interactions and automation for efficiency, AI is driving a paradigm shift in debt management. Embrace digital-first strategies with AI-powered performance for improved customer interactions, streamlined operational efficiency, and predictive analytics.
In a recent hearing at the Economic and Monetary Affairs Committee (ECON) of the EU Parliament in Brussels, Andrea Enria, the Chief Banking Supervisor of the European Central Bank (ECB), emphasised the urgent need for banks to address deficiencies in dealing with credit risks. Read our blog to learn more.
Debt collection has traditionally been a labour-intensive and time-consuming process for businesses, relying on manual data entry systems, phone calls and emails. However, with the emergence of debt management technology, companies are embracing the shift towards secure, robust, data-led systems. These systems not only enhance operational efficiency but also provide better insights for decision-making.