With: Bruce Curry, VP, EMEA Collections and Recovery, FICO & Daniel Hensel, Principal Consultant, FICO Analytic Consulting, Daniel Melo, Senior Principal Consultant Risk and Regulatory And John McMahon, C&R Operations specialist IFRS 9 does not allow any tolerance for those not totally on top of avoidable losses. Whether true loss or through impairment, organisations need to really push their data science teams to address the customer in the round and provide those in collections and recovery with forensic-level insight on how customers arriving in collections need to be managed and what the outcomes are likely to be. Anything less and organisations face a risk of haemorrhaging customers and losses. Those organisations where Finance, Risk, IT and Operations are collaboratively joining the dots of multiple challenges, and working through how to put the required solutions into production, will soon see a clear competitive advantage. If you’re not there yet, it’s time to move faster. Merger and acquisition activity will increase over the next couple of years, and organisations need to decide if they want to be an acquirer or an attractive target.
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