In this webcast, panelists discuss how lenders and customers can prepare for a surge in loan defaults.
Even before COVID-19, when the US had the longest-running growth economy, there were 33 million Americans with $650 billion in collections. In addition, the average collections rate was below 20%, the lowest in 25 years. This situation will be intensified as the effects of COVID-19 on the global economy continue and are felt across critical industries, such as communications, health care, banking and insurance.
Join us as our panel explores:
- How to navigate the impending avalanche of collections
- Why the current antiquated collections process must change
- How businesses can improve their collections rates while building a stronger relationship with their customers
- How to leverage tools, such as AI as an early warning system and drive the right targets and personalized offers
- How companies can help their customers get back to financial health
- Robert Wichtendahl, Senior Manager, Advisory Services, Ernst & Young LLP
- Maurice D. Berbel, Principal, Advisory Services, Ernst & Young LLP
- Sameer Gupta, Principal, Advisory Services, Ernst & Young LLP
- Michelle Mitchell, Senior Director & Industry Principal, Pega
- Christine Roy, Senior Manager, Advisory Services, Ernst & Young LLP
There will be an opportunity to have your questions answered. An on-demand version of the webcast will be made available following the live broadcast; however, only those who attend it live will receive CPE credit.