Preparing for the Future of Consumer Lending and Debt
In the shadow of rising delinquency rates, financial institutions (FIs) are strategically investing to minimize losses and ensure the health of their loan portfolios.
By upgrading technology to modernize collections operations, FIs can maximize recovery, reducing charge-offs while retaining customers. From re-evaluating the underwriting process and increasing loan reserves to streamlining operations and prioritizing digital initiatives, FIs are laying the groundwork to successfully navigate the shifting financial landscape.
See the various approaches FIs are taking to prepare for whatever the future may bring.
See how FIs are managing risk despite:
- BNPL credit reporting gaps
- Increasing loan modification exits
- Student loan uncertainty
- and more