Indian Debt Collection Industry on a rise?


As per the recent joint study by Microsoft and IDC, by the year 2021, Digital transformation will add USD 154 billion to India's Gross Domestic Product(GDP). The use of data analytics and the improved internet and mobile connectivity is transforming the debt collection agencies the way they are operating their business operations. There are many benefits for the enterprises as well to the debt collection agencies. 

The traditional era of employing call centre agents and trained staff, may be replaced by bot agents which can interact with the customers that will remind and follow up the payment dues. In the year 2018, outstanding consumer loans grew by 18 percent in india as compared to 2017. Leading banks are planning to transform their processes and strategies in debt collections to regain competitiveness and. This might be the emergence of the digital era of intelligent debt collection practices.

Many debt collection agencies in India are preparing themselves to adapt to the new emerging technologies that will enable them in faster debt recovery. While emerging technologies such as Artificial Intelligence and Machine learning are new in the Indian debt collection industry but soon their impact can be experienced in coming two to three years. 

At this point of Digital Transformation, it is important for you to choose the right Debt agency India that follows not only follows the traditional process but also the latest and emerging process which will help you to stay competitive in the present generation of digital disruption. 
Location: Navi Mumbai, Maharashtra, India

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