In a world of digital-first originations, consumers will tolerate increased friction when opening accounts for specific high-value financial products, such as mortgages

New research shows that most consumers will answer up to 10 questions during the account opening process - any more and half will give up

More than 85% of consumers polled said they were willing to consider opening a financial account digitally - but they have high expectations

Automated dial-direct calls to late-paying customers continue to help recover around 5% of delinquent accounts

As Hoist Finance shows, best practices in decision management – automation, digitization, centralization – also result in greener decisions

Most Valuable Disciplines (MVD) are driving excellence in Debt Collection and Recovery, particularly over periods of ambiguity.

Top 5 takeaways from FICO 's North American consumer survey on Digital Account Opening

The time to invest in collections technology and improve your processes is now, not when the pandemic-driven debt tsunami hits

Hoist Finance and FICO have won for Best Use of Technology in the Credit Excellence 2021 Awards

Signs to watch for, technologies that might help and recommendations on how to work with borrowers

Bridging the expectation gap through decision planning to improve the customer experience

Digital transformation yields dividends in challenging year

Banks and card issuers have an opportunity to ensure they continually interact with customers to better understand their genuine financial position

The trend of automation of call centres

A combination of pre-emptive portfolio analysis, carefully timed triggers and well-managed contact and self-cure options can help customers make it through this difficult period