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COVID-19 has created challenges unimaginable a year ago. Call centre staff needed immediate transitioning to home working, and calls from customers spiked by some 800%, while computer systems often proved inflexible and unable to adapt quickly enough to a new way of working. On top of this, governments across the world introduced new debt forbearance rules which needed integrating into collection systems.
With the first phase of the crisis drawing to a close, examination of the issues facing both customers and companies will inform future initiatives and responses as the world moves into the second phase of relaxing the lockdown and rebooting economies.
As a market leader with more than 10,000 customers in more than 100 countries, FICO gathered an international panel of its experts to bring together learnings to date. Five key questions were examined by FICO’s Collections and Recovery leaders, including Bruce Curry, John McMahon, Thorsten Roescher, Jashan Augustine, Ray Gillham, Santiago Garcia, and Zeynep Salman.