More than a third (34%) of decision-makers admit they’re now struggling to get a complete picture of indebtedness or identify financially at-risk customers. Analysts warn many lenders will face financial exposure to spikes in non-performing loans, over-commitment, debt, and default, and insolvencies are forecast to increase by up to 26% by the end of this year, as the ongoing pandemic continues to hamper recovery and growth.

The transition from a reactive environment to pro-active, pre-, and early collections activity to help cut the flow of cases into the collections system.

Read this case study to learn how to encourage payment and prevent the account being passed to collections managing.