Financial institutions are confronting a growing challenge in today’s uncertain economic environment — rising delinquencies and the need for effective, customer-centric collections strategies to respond to the increase. Collections has always been a delicate business to manage; however, there are practical, proven tactics that banks can easily follow to manage their collections approach without compromising their customers’ trust. The outdated one-size-fits-all approach no longer works when it comes to collections. Modern collections demand tailored outreach, a clear understanding of...