LONDON, March 26, 2020 /PRNewswire/ -- Debt-management services must prioritise client performance and support the client's purpose, says Qualco.
Europe's debt market is constantly evolving. Non-performing loan (NPL) portfolios have changed hands from the banking industry to service providers and investors, meaning debt portfolios have decreased.
So how are non-banking organisations successfully handling debt? Miltos Georgantzis, CEO and founding partner of debt management service provider QUALCO, explains that within the NPL industry, "the fair treatment of customers is crucial", and that trained people and advanced technology can ensure positive customer experiences.
But he also warns of the challenges for businesses navigating the debt market. "The biggest concern is maintaining flexibility while increasing accountability to the client," says Georgantzis, explaining that organisations ought to turn to a flexible and efficient software amid times of change and uncertainty. "Nowadays firms look for a central software solution."
A successful debt-management software environment will, says QUALCO:
- Meet global reach requirements
- Adjust to local behaviours and regulations
- Enhance consistency
- Have a strong IT and AI backbone
As the debt market rapidly shifts, well developed software can significantly improve the productivity of debt management.
To learn more how organisations can navigate the expanding debt market, read the full article here.
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Qualco is a debt management software and solutions provider that helps organisations adapt to a rapidly changing debt landscape.
It offers technology-enabled services, focusing on all aspects of the debt collections and recoveries lifecycle.