Enhancing Credit Management with Automation and Real-Time Data

Enhancing Credit Management with Automation and Real-Time Data


By Guy Statter, Country Manager, UK & Ireland at QUALCO.

Modern organisations harness technology to gain insights and foster stronger relationships throughout the credit lifecycle. For instance, Big Data Analytics allows for more precise risk assessments by analysing vast amounts of data on borrower information. Artificial Intelligence and Machine Learning automate credit scoring, making loan approvals swifter and more accurate. These advancements, combined with user-friendly digital platforms, can transform the entire credit industry, making it more efficient, transparent and tailored to individual client needs.

Credit Management 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. With the integration of advanced Αnalytics and Machine Learning into operational systems, credit processes can be streamlined, empowering people to do a lot more, by improving decision making, portfolio management and customer experience. 

Open Banking fundamentally transforms financial services by unlocking new insights into customers' lives. It provides real-time information, helps analyse spending patterns, assess financial health, personalise products, and detect fraud. This shift also reshapes the realms of credit and collections as a collaborative model, revolutionising how financial data is used. It drives personalised and beneficial services, enhances customer experience and improves financial and personal well-being. 

Mastering Data Synchronisation in Collections & Recoveries 

To address debt management challenges, digital debt collection solutions provide customisable tools that adeptly manage the customer regardless of circumstance. Automated workflows streamline communications across telephony, digital and traditional channels, delivering end-to-end efficiency across channels. Also, agents can understand and respond to customer needs in real-time, regardless of the channel. This productivity improvement empowers faster and more effective debt recoveries.

This article was initially published in CCTA Technology Paper Nov 2023.



qualco Solutions

QUALCO 360 provides comprehensive transparency with a customer-centric focus. Supporting various sectors, from banking to retail credit, its expansive ecosystem caters to the diverse needs of organisations managing NPLs, NPEs, and vast credit portfolios, enabling businesses to align operational activity with ever-changing customer behaviour.  

QUALCO Collections & Recoveries (QCR) optimises operations for cost savings and improved repayment rates, provides real-time customer financial insights and streamlines collaboration with collections agencies. It enables a more empathetic approach by offering tailored solutions to vulnerable customers. Furthermore, the platform’s Omnichannel capabilities boosts payment rates and contact centre efficiency by empowering agents with information about earlier interactions.