How are collection operations changing?

Collection operations were changing even before the pandemic — and the pace and range of change have increased since then. To understand the major change vectors, we talked to Leslie Parrish, a Senior Analyst at Aite-Novarica focused on consumer lending.

This Q&A covers topics such as: 

• The significant shift of lenders ranked improving borrower experience as their #2 challenge, just below credit risk and above compliance, according to an Aite report. 
• Being better prepared if you need to collect, so getting a sense ahead of time of what channels are going to work best with that customer and how they behave.
• Where does Aite research show the additional spending in technology going?