On the 4^th of February at 2pm (GMT), DirectID hosted the first webinar of the year entitled ‘Exploring Open Banking data in Collections & Recoveries’.

In recent years, we’ve worked closely with debt collection firms and entities, leading to the identification of 3 key challenges that hinder efficient portfolio management:

• The problematic nature of verifying Income and Expenditure when reliant of self-asserted affordability
• Debtor reluctancy to engage in the collections process
• Increasing the performance of the debt book

With our 10+ years of experience working with bank data, we shared our knowledge on the practicalities and implications of using consumer financial data to overcome the key challenges faced by the sector. In this webinar, our collections specialist, Alan Steele, explored the implementation of Open Banking data in a Collections & Recoveries strategy.

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