Almost everyone I talk to in the industry rates innovation as a top priority. Not long ago, in my former role as the leader of collections strategy for a major bank, I led a full strategy overhaul. I know first hand there are a lot of hurdles and setbacks once you decide to engage in such a change. In our case, everything needed an update; data infrastructure, scoring models, decision engines, customer contact tools (interactive messaging, text, email, etc.), reporting - you name it, we needed it.
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