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Digital transformation is bringing a paradigm shift that is changing businesses all over the world. Let’s go through the details of how debt resolution is getting leveraged by through digital transformation.  Basic Understanding of Debt Resolution Banks primarily generate profitability through lending, but not all loans turn out to be sound investments. When loans turn […]

Debt collection is one of the oldest practices in human society. As long as there has been credit, there have been those who need to chase down unpaid debts. However, like any industry, debt collection has evolved drastically over time. What started as personal visits and harsh methods has transformed into sophisticated, technology-driven strategies that

Historically, the debt collection industry has utilized manual processes and human oversight to handle collections. Manual debt collection practices can be inefficient, labor-intensive, and vulnerable to human mistakes.While this approach has its benefits, it also comes with significant challenges, including substantial overhead expenses, operational bottlenecks, and constrained capacity for growth.The adoption of automation serves to

Improvement in the performance of debt collection has become paramount for banks, non-banking financial institutions (NBFCs), and fintech lending entities, reflecting a heightened focus on revenue generation. In the contemporary landscape, which is characterized by its digital nature and emphasis on environmental, social, and governance (ESG) factors, it is imperative to maintain a proactive stance

India is one of the leading emerging growing economies and a front runner in shaping the financial revolution. The financial market is becoming cashless and a leader in digital payments. Over the last decade, payment mode has transformed dramatically in its payments landscape, largely driven by consumer habits and experience and government initiatives. With over

The phenomenon of loan delinquency poses a serious financial concern that impacts individual borrowers, financial institutions and the overall economy. It is defined as the failure to make timely loan payments, which can result in a chain reaction of financial difficulties if not addressed promptly. Lenders categorize delinquency into various stages based on the number

Debt collection is critical to the long-term capability of the financial ecosystem for both businesses and individuals alike. This process is a complex and sensitive part of the lending lifecycle for banks, non-banking financial companies (NBFCs), and fintech lenders. It requires a high level of agility, expertise, adherence to regulations, and a deep understanding of