Getting it right: The three keys to maximizing digital collections 2023

In today’s ever-digitizing world, three key elements have become essential to collecting effectively. First, moving beyond omnichannel digital communications into two-way, holistic communications to facilitate true self-service. Second, moving beyond merely predicting how customers are likely to behave into understanding how best to nudge them toward better repayment behaviors. And third, precisely assigning, tracking, and monitoring the effectiveness of each treatment for each customer, unlocking true personalization as well as ensuring compliance and auditability. Best of all, when combined, these three elements allow organizations to quickly learn from new strategies in order to attain continual improvement.