The Digital-First Collections Strategy Imperative – McKinsey and FICO

Presenters:
Matt Higginson, Partner, Financial Services Practice, McKinsey & Company
Bruce Curry, VP, EMEA Collections and Recovery, FICO

A new article from McKinsey, “Holistic Customer Assistance Through Digital-First Collections”, spells out the gains from using technology to improve debt collection in the pandemic – and after. The article notes that lenders using the right tools in the right combination have seen reductions in NPLs of 20 to 25 percent, alongside huge cost takeouts, lower conduct risk, and more than 25 percent boosts to customer engagement. One lender shortened its average repayment time by as much as five times.

In this webinar, Matt Higginson of McKinsey and Bruce Curry from FICO discuss the article’s findings and recommendations for your business. Learn:

• What is the state of customer assistance today?
• What actions are lenders taking now (in the shift to digital-first)?
• How can improved customer assistance add value?
• How do lenders get started on a customer assistance transformation?

This webinar will help you build your roadmap for collections success as the economy opens back up, government support schemes end, and borrowers grapple with their finances.