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Retail Banking: Six Steps to Improving the Collections Experience

Financial services providers now serve and communicate with their customers using an array of digital channels. Customers expect these interactions to be highly personalized, timely, convenient and reliable. Last year, a BBA (British Banking Association) report discovered that customers are now using mobile banking apps more than 7,610 times a minute, or four billion times a year.

Whilst banks have strived to respond to the changes in consumer behavior over the past 10 years, there is one area of banking that has not evolved in the same way: missed payments and collections. In the banking industry, collections ha ...

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