Risk, High Car Payments & Litigation Challenges: 3 major trends from the first half of 2023

As we near the middle of 2023, here are three major, but not-so-obvious trends that collections & recovery execs need to be aware of:

1 - Speculation, and therefore risk, travels at social media speed.

Perhaps the most glaring lesson we need to learn from the collapse of SVB is the way it happened, which Aleks Whitchurch, CEO of Quanta Credit Services, noted in our webinar, Is The Economic Alarm Bell Ringing? Technology and near-constant use of social media means that information about investment risk travels at lightning speed. Many banks aren’t prepared.