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FAQs About Debt Management Plans

Debt Guru

A debt management plan (DMP) is an agreement between a debtor (that’s you, the person in debt) and a creditor (think: your bank or your credit card company) that tackles your outstanding debt. If you’re feeling buried under the weight of multiple debts, a DMP might be the solution to escape the crush.

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Absa Bank Doubles Self-Service Customers To 43 Percent

Fico Collections

Absa Bank, one of Africa’s largest financial groups, has transformed its collections operations in just three months by deploying FICO® Customer Communication Services (CCS). For its achievements, Absa Bank has won a 2021 FICO® Decisions Award for debt collection. Communications Solution Delivers ROI of 29:1.

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Can Open Banking and AI Help Us Manage At-Risk Customers?

Fico Collections

Many businesses are slowly being overwhelmed by customer requests, calls and multi-channel contacts, as we start to approach the peak of the pandemic’s mounting debt pressures. In fact, many banks and institutions have doubled headcount in key areas to help handle the demands. Open Banking Is Part of the Answer.

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How portfolio segmentation leads to an optimised debt management process

Qualco

For example, a bank can have customers with various paying characteristics. Through segmentation, the bank will be able to set the proper contact strategy for each one of them (from a few reminders to restructured payment plans). It empowers adaptation to evolving customer behaviours.

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2021 FICO Decisions Awards Now Open

Fico Collections

Awards will be presented in eight categories: AI and Machine Learning, Cloud Deployment, Customer Onboarding and Management, Debt Management, Fraud & Security, Decision Management Innovation, Financial Inclusion and Regulatory Compliance. by Nikhil Behl.

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9 Apps That Will Help You Manage Your Debt

Credit Corp

Whether you make your debt payments on time makes up 35% of your credit score. Making on-time payments is one of the smartest ways to use your debt to your advantage. If you need a little help, debt management apps can help you organize and manage all of your debts in one place. Debt Manager .

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Enhancing Credit Management with Automation and Real-Time Data

Qualco

Credit Lifecycle Automation & Open Banking Emerging technologies and the increased availability of data resources empower lenders to make informed credit decisions and offer improved services to a wider group of customers. Open Banking fundamentally transforms financial services by unlocking new insights into customers' lives.