Problems Recovering Portfolio in the Financial Sector

Recover wallet

There are several common problems that companies in the financial sector in Colombia face when trying to recover their portfolio. Some of the main ones are the following:

Delinquency: One of the biggest problems faced by companies in the financial sector is the high rate of delinquency, that is, non-payment by customers. This may be due to the customer’s inability to pay, the company’s lack of monitoring and control, or the lack of adequate preventive measures.

Fraud: Financial companies also face a high risk of fraud, as fraudsters increasingly use sophisticated techniques to deceive companies and evade payment of their debts.

Manual and slow processes: Many companies in the financial sector in Colombia still rely heavily on manual processes to manage their portfolio. This can result in slow and inefficient processes that make portfolio recovery difficult.

Lack of resources and training: Financial companies may face difficulties in having adequate resources and personnel to implement effective portfolio recovery strategies. Additionally, lack of proper training for employees can make portfolio recovery even more difficult.

Intense Competition: In a competitive market like the financial sector in Colombia, companies must constantly strive to maintain an advantage over their competitors. This can make it difficult to implement effective portfolio recovery strategies.

In summary, financial companies in Colombia face significant challenges in recovering their portfolio, including high delinquency rates, fraud, manual and slow processes, lack of resources and training, and intense competition.

To overcome these challenges, from Outsourcing S.A.S. BIC is committed to transforming this experience in those companies that must implement effective portfolio recovery strategies and always be attentive to the needs and expectations of their clients. Yes, you want to add value to your brand and transform your customers’ experience in the collection process, contact us.