We all have preferences, and it can be a challenge to accommodate them all for your members. While some may prefer to maintain a sense of comfort with the familiar traditional route, others may race t...
Is the recession economy stressing your collections queues?
Financial institutions are bracing for the probable recession that’s on the horizon. In board rooms and meetings across the financial industry, executives and their teams are trying to find answers to questions, including:
- How will our collections teams adapt to a borrower portfolio that’s experiencing wallet strain?
- How can we quickly respond to changing delinquency queues without impacting our staffing?
- How do we optimize our collections outreach communication so we’re more effective at collecting on past-due accounts?
- Overall, what does risk management look like at my financial institution during a recession?
In SWBC’s latest white paper, Modernizing Your Collections Operations, our team focuses on identifying the economic factors that are the driving force behind unstable collections queues. We also examine how two credit unions tackled stressful collections situations that required them to become more flexible to adapt to their borrowers’ evolving needs.
Watch below to learn more about what’s in the white paper and be sure to download your copy, today!
Jeff Mortenson, SVP Product Collections & Contact Center
Mr. Mortenson is responsible for driving the vision, strategy, and execution for SWBC’s outsourced collections and contact center solutions. Jeff is an accomplished executive with strong business acumen and comprehensive experience, knowledge, and success in planning, acquiring, servicing, and collecting member loan portfolios. He has been at the forefront of implementing omnichannel communication strategies within member collections.
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