Consumer Debt Collection Software 2020: Collection Systems Lay the Groundwork, but Training and User/Vendor Interaction are the Key for Success - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Consumer Debt Collection Software: Vendor Assessment" report has been added to ResearchAndMarkets.com's offering.

While this report does not suggest changing technologies supporting the collection function during a recession, the timing is right to consider current shortfalls and prepare for enhancing the operation when the economy recovers.

Four vendors are included: ACI Worldwide, CGI, FICO, and Zoot. These four players are well established in supporting the credit card function and can fill the requirements for a wide range of credit card platforms, whether operated on-premise, through the cloud, or with a platform service provider.

"Collection systems must accomplish three broad goals: They need to support operational analytics, so the business knows where it is going and where it should be. It also must facilitate production for manual calling, auto-dialers, and communication. Finally, the system needs to interface with the core platform and document all actions," comments Brian Riley, Director, Credit Advisory, and the author of the research note. Riley adds that, "the power in collection systems centers on the user's ability to work the controls and drive the technology. The four vendors selected in this pool provide excellent user support and training. Although each system relies on artificial intelligence, well-trained users deliver the best result."

Highlights of the research note include:

• The new normal in collections
• The assessment framework
• Comprehensive platforms
• Specialty Products

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Collections and the New Normal

• Tough Times Ahead for Lenders
• It's Never a Good Time to Patch The Roof (Especially Now)

4. Assessment Framework and Features

• Vendor Selection
• Assessment Framework

5. Comprehensive Platforms: Individual Vendor Reviews

• CGI Collections360
• FICO Debt Manager Review

6. Specialty Products: Individual Vendor Reviews

• ACI Worldwide Virtual Collection Agent
• Zoot Enterprises Collections and Recovery

7. Conclusions

8. References

Figures

Figure 1: Charge-off rates are expected to rise as unemployment remains elevated.

Figure 2: The typical collections solution stack encompasses multiple functionalities, providers, and interfaces

Figure 3: Framework for assessing collections solutions

Figure 4: Vendors' solution positioning drives the best client fit

Figure 5: CGI Company Profile

Figure 6: FICO Company Profile

Figure 7: ACI Worldwide Company Profile

Figure 8: Zoot Company Profile

Companies Mentioned

• ACI Worldwide
• CGI
• FICO
• FIS
• Fiserv
• TSYS
• Worldpay
• Zoot

For more information about this report visit https://www.researchandmarkets.com/r/tnfpap

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