Executive summary
Consumer prices across the European Union countries that use the euro currency have spiked to the highest level in over 13 years on the back of rising energy prices and constrained demand during the pandemic recovery.
As consumer goods prices increases and energy costs surge, customers lose their purchasing power resulting in increased missed payments and a rise in debt. For financial organisations, that means that they will have to work towards bringing rising debt on track.
The role of modern technology is determinant since it can contribute to the proactive optimisation of collections. Enabling solutions that combine advanced analytics and digital customer engagement methods, can bring significant value to Collections and Recoveries functions.
