Collection systems must accomplish three broad goals: They need to support operational analytics, so the business knows where it is going and where it should be. It also must facilitate production for manual calling, auto-dialers, and communication.
BOSTON (PRWEB) October 15, 2020
Mercator Advisory Group released a review of top credit card system providers titled Consumer Debt Collection Software: Vendor Assessment. While Mercator Advisory Group does not suggest changing technologies supporting the collection function during a recession, the timing is right to consider current shortfalls and prepare for enhancing the operation when the economy recovers.
Four vendors are included: ACI Worldwide, CGI, FICO, and Zoot. These four players are well established in supporting the credit card function and can fill the requirements for a wide range of credit card platforms, whether operated on-premise, through the cloud, or with a platform service provider.
"Collection systems must accomplish three broad goals: They need to support operational analytics, so the business knows where it is going and where it should be. It also must facilitate production for manual calling, auto-dialers, and communication. Finally, the system needs to interface with the core platform and document all actions,” comments Brian Riley, Director, Credit Advisory, at Mercator Advisory Group, and the author of the research note. Riley adds that, "the power in collection systems centers on the user’s ability to work the controls and drive the technology. The four vendors selected in this pool provide excellent user support and training. Although each system relies on artificial intelligence, well-trained users deliver the best result.”
Highlights of the research note include:
- The new normal in collections
- Our assessment framework
- Comprehensive platforms
- Specialty Products
This document contains 18 pages and 8 exhibits.
Companies mentioned in this research note include: ACI Worldwide, CGI, FICO, Zoot, FIS, Fiserv, TSYS, Worldpay
Members of Mercator Advisory Group's Credit Advisory Service have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
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Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.