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Is Collection and Recovery About to Be Disrupted?

Executive Brief

Is Collection and Recovery About to Be Disrupted?

Executive Brief

Collection and recovery executives are worried about disruption, and they’re not alone. In a global cross-industry survey of executives and board members by North Carolina State University’s Enterprise Risk Management Initiative and management consulting firm Protiviti, Inc., the challenge of competing against “born digital” disruptors was cited as the #1 risk factor for 2019. Signaling the speed with which business conditions are changing, digital disruption shot up to the top of the list from its #10 position in last year’s survey.

How serious and imminent is the risk of disruption to established C&R organizations and business models? Which types of companies — creditors, collections agencies, debt buyers — are likely to be most affected? We asked Ed Wallen, FICO’s Vice President of Software Engineering, responsible for customer credit lifecycle solutions.