DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/n9zprb/credit_card) has announced the addition of the "Credit Card Collection Platforms: Compliance Takes Center Stage" report to their offering.
Providers are consistently improving analytical capabilities, but regulatory compliance often drives technology investment by banks and collection agencies. This research note discusses regulatory pressure and shifting competitive dynamics and highlights some particularly innovative vendor offerings.
The US economic environment has turned 180 degrees since the recession ended. In 2009, credit card issuers were awash with delinquent accounts and struggling to scale their collections operations to meet an exploding need. Today, the delinquency rates on credit card balances are at an all-time low and continue to trend lower. The regulatory environment has also changed considerably since the financial crisis. And recent guidance from multiple regulatory agencies regarding how financial institutions should manage vendor risk is also influencing creditors' collection strategies.
The context for credit card collections has changed considerably over the last five years, but it isn't necessarily any closer to normal, comments Michael Misasi, Senior Analyst, author of the Note. The industry pendulum has swung from one extreme to the other. The only comparison we might make is that creditors and the technology providers that serve them are still waiting for a sustainable environment.
Highlights of the report include:
- A discussion of historical and ongoing compliance challenges facing first-party creditors
- An analysis of key competitive considerations such as self-service options, and customer service issues
- A review of 5 leading providers of credit card collection platforms and tools
- Expectations for future shifts in banks' collection strategies
For more information visit http://www.researchandmarkets.com/research/n9zprb/credit_card