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Debt Collection Software Market to Grow by USD 2.31 Billion (2024-2028), Driven by Rising NPLs and AI-Powered Market Evolution – Technavio

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NEW YORK, Dec. 11, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global debt collection software market  size is estimated to grow by USD 2.31 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  8.92%  during the forecast period. Rise in non-performing loans (npls) is driving market growth, with a trend towards integration of advanced technologies in debt collection software. However, high cost of debt collection software  poses a challenge. Key market players include AgreeYa Solutions Inc., Analog Legalhub Technology Solutions Pvt. Ltd., CDS Software, Chetu Inc., Comtech Systems Inc., Comtronic Systems LLC, DAKCS Software Systems Inc., Debt Pay Inc., DebtCol Software Pty. Ltd., Debtrak, Experian Plc, ezyCollect Pty. Ltd., Fair Isaac Corp., Fidelity National Information Services Inc., Gaviti Akyl Ltd., Indigo Cloud Ltd., MarketXpander Services Pvt. Ltd., Nestack Technologies Pvt. Ltd., PDCflow, PrimeSoft Solutions Inc., Quantrax Corp. Inc., Radixweb, receeve GmbH, Sila Inc., Totality Software Inc., A4dable Software, Ameyo Pvt Ltd., DBA PaySimple Inc., Simplicity Collection Software, Constellation Software Inc.; CGI Group Inc.; TransUnion; Nucleus Software Exports Ltd.; Pegasystems Inc.; Temenos Group AG; PAIR Finance; Credgenics

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Deployment (On-premises and Cloud-based), Industry Application (Small and medium enterprises and Large enterprises), and Geography (North America, Europe, APAC, South America, and Middle East and Africa), Component, enterprise size, end-user

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

AgreeYa Solutions Inc., Analog Legalhub Technology Solutions Pvt. Ltd., CDS Software, Chetu Inc., Comtech Systems Inc., Comtronic Systems LLC, DAKCS Software Systems Inc., Debt Pay Inc., DebtCol Software Pty. Ltd., Debtrak, Experian Plc, ezyCollect Pty. Ltd., Fair Isaac Corp., Fidelity National Information Services Inc., Gaviti Akyl Ltd., Indigo Cloud Ltd., MarketXpander Services Pvt. Ltd., Nestack Technologies Pvt. Ltd., PDCflow, PrimeSoft Solutions Inc., Quantrax Corp. Inc., Radixweb, receeve GmbH, Sila Inc., Totality Software Inc., A4dable Software, Ameyo Pvt Ltd., DBA PaySimple Inc.,  Simplicity Collection Software, Constellation Software Inc.; CGI Group Inc.; TransUnion; Nucleus Software Exports Ltd.; Pegasystems Inc.; Temenos Group AG; PAIR Finance; Credgenics

Key Market Trends Fueling Growth

The Debt Collection Software market is witnessing significant trends, including automation, multichannel communication, and affordability for organizations of all sizes. Large enterprises segment seeks economies of scale through deployment of advanced debt collection solutions. Services and solutions segments dominate, offering debt collection services and modern applications for effective loan recovery. Implementation of debt collection software involves business-specific needs, training, and implementation work. Legacy systems are being replaced with modern applications for productivity and effective debt recovery. Borrower data, overdue invoice reminders, phone calls, and online payment collection are essential components of the debt collection ecosystem. Banks and financial organizations prioritize debt collection journeys and money collection process, addressing complexities through automation, notifications, alerts, and compliance with consumer protection laws and debt collection regulations. Costs, bankruptcy status, and litigious consumers pose challenges. InterProse Corporation’s InterProse ACE offers debt collection software for government organizations, with components including text messaging, voice mail drops, dialers, and compliance with debt collection regulations. Deployment options include on-premises and cloud-based, catering to enterprise size. 

The debt collection software market is undergoing a transformation through the integration of advanced technologies such as artificial intelligence (AI), machine learning (ML), and data analytics. These technologies are streamlining debt collection processes by enhancing decision-making capabilities, automating repetitive tasks, and improving overall efficiency. AI specifically, is revolutionizing the financial industry by enabling automated decision-making processes, predictive analytics, and personalized customer interactions. For instance, AI algorithms analyze historical debtor data to forecast payment behaviors and suggest tailored collection strategies, resulting in more effective interventions. This technological integration is a game-changer for the debt collection industry. 

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Market Challenges

•         The Debt Collection Software market faces challenges in automating debt collection processes for organizations, particularly in the large enterprises segment. Affordability and economies of scale are key considerations, as debt collection software solutions must effectively meet business-specific needs without straining budgets. Automation of loan recovery processes, online payment collection, and multichannel communication are essential for productivity and effective debt recovery. Services and solutions segments offer debt collection services and deployment of software for organizations. Debt collection journeys include overdue invoice reminders, phone calls, text messaging, voice mail drops, and dialers. Borrower data, debt collection regulations, bankruptcy status, and litigious consumers add complexities to the debt collection ecosystem. InterProse Corporation’s InterProse ACE software addresses these challenges with automatic monitoring, notifications, and alerts. Deployment options include on-premises and cloud-based solutions, catering to various enterprise sizes. Training and implementation work are crucial for successful deployment and integration with core business systems, such as legacy systems and modern applications. Consumer protection laws and debt collection regulations must be adhered to, ensuring compliance and effective debt collection. Costs, productivity, and effective debt recovery are the primary objectives for financial and banking organizations. The debt collection software market continues to evolve, providing innovative solutions to streamline the money collection process.

•         The debt collection software market is facing a significant challenge due to the high cost of the software. This issue poses a barrier for smaller debt collection agencies and businesses with limited financial resources, potentially reducing competition and increasing prices for consumers. The average cost of the software ranges from USD480 to USD1200 yearly per user, with enterprise solutions costing more based on specific requirements. This high expense can hinder market growth and limit access to effective debt collection solutions for many organizations.

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Segment Overview 

This debt collection software market report extensively covers market segmentation by

Deployment 1.1 On-premises1.2 Cloud-basedIndustry Application2.1 Small and medium enterprises2.2 Large enterprisesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and AfricaComponentEnterprise sizeEnd-user

1.1 On-premises-  On-premises debt collection software solutions hold a substantial position in the global debt collection software market, addressing the demands of businesses that value internal infrastructure management, data security, and customizability. These software solutions are installed and operated within an organization’s premises, granting users a significant degree of autonomy over their debt collection operations. Large enterprises, particularly those in regulated industries like finance and healthcare, prefer on-premises debt collection software to safeguard sensitive debtor information and adhere to stringent data privacy regulations. Companies such as DAKCS Software Systems Inc. (DAKCS) provide tailored on-premises debt collection solutions, catering to the unique security and regulatory needs of large enterprises. This level of customization is particularly appealing to complex debt collection operations within large enterprises. On-premises debt collection software enables organizations to maintain full control over their data and operations, which is essential for large enterprises adhering to strict IT policies and security protocols. Providers like CDS Software offer extensive on-premises debt collection software, empowering large enterprises to manage their debt collection processes while ensuring data security and integrity. The need for direct control over data and operations, combined with the ability to customize software to align with specific business processes, is expected to fuel the growth of the on-premises segment in the global debt collection software market.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Debt Collection Software market is witnessing significant growth due to the automation of debt collection processes, providing large enterprises with economies of scale and affordability. This market caters to both services and solutions segments, offering debt collection services and software solutions to organizations. The deployment of debt collection software streamlines the loan recovery process, enabling effective communication through multichannel methods. Borrower data management is crucial, and these systems provide features like overdue invoice reminders, phone calls, and online payment collection. Banking and financial organizations benefit greatly from these solutions, increasing productivity and improving the effectiveness of debt recovery. However, implementing debt collection software comes with complexities, including business-specific needs, training, and implementation work. Legacy systems and modern applications must be considered during strategy development. The debt collection ecosystem requires a well-thought-out plan for successful implementation.

Market Research Overview

The Debt Collection Software market is witnessing significant growth due to the automation of debt collection processes, which helps organizations streamline their loan recovery process and improve productivity. The large enterprises segment is a major contributor to the market’s growth, as they can leverage economies of scale and affordability. The market offers both solutions and services segments, with debt collection services being a popular choice for organizations seeking expert assistance in managing their debt collection journeys. The deployment of debt collection software involves careful strategy and implementation, taking into account business-specific needs and the complexities of the debt collection ecosystem. Modern applications replace legacy systems, offering online payment collection, overdue invoice reminders, and multichannel communication options like phone calls, text messaging, voice mail drops, and dialers. Implementation work includes training and adherence to debt collection regulations, consumer protection laws, bankruptcy status, and litigious consumers. The market caters to banking organizations, financial institutions, government organizations, and other entities, providing effective debt recovery and cost savings through automatic monitoring, notifications, and alerts.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentOn-premisesCloud-basedIndustry ApplicationSmall And Medium EnterprisesLarge EnterprisesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And AfricaComponentEnterprise sizeEnd-user

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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51Talk Online Education Group to Report Third Quarter 2024 Financial Results on Friday, December 13, 2024

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Earnings Call Scheduled for 8:00 a.m. ET on December 13, 2024

SINGAPORE, Dec. 12, 2024 /PRNewswire/ — 51Talk Online Education Group (“51Talk”, or the “Company”) (NYSE American: COE), a global online education platform with core expertise in English education, today announced that it will report its unaudited financial results for the third quarter ended September 30, 2024 on Friday, December 13, 2024, before the open of U.S. markets.

The Company’s management will host an earnings conference call at 8:00 a.m. U.S. Eastern Time on December 13, 2024 (9:00p.m. Singapore/Beijing/Hong Kong time on December 13, 2024).

Dial-in details for the earnings conference call are as follows:

United States Toll:

1-888-346-8982

International:

1-412-902-4272

Singapore (toll free):

800-120-6157

Mainland China Toll:

4001-201203

Hong Kong Toll:

800-905945

Hong Kong-Local Toll:

852-301-84992

Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for “51Talk Online Education Group”.

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.51talk.com

A replay of the conference call will be accessible approximately one hour after the conclusion of the live call until December 20, 2024, by dialing the following telephone numbers:

United States Toll:

1-877-344-7529

International Toll:

1-412-317-0088 

Canada Toll:          

855-669-9658

Replay Access Code:

7344526

About 51Talk Online Education Group

51Talk Online Education Group (NYSE American: COE) is a global online education platform with core expertise in English education. The Company’s mission is to make quality education accessible and affordable. The Company’s online and mobile education platforms enable students to take live interactive English lessons on demand. The Company connects its students with a large pool of highly qualified teachers that it assembled using a shared economy approach, and employs student and teacher feedback and data analytics to deliver a personalized learning experience to its students. 

For more information, please visit http://ir.51talk.com

View original content:https://www.prnewswire.com/news-releases/51talk-online-education-group-to-report-third-quarter-2024-financial-results-on-friday-december-13-2024-302329810.html

SOURCE 51Talk Online Education Group

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WuXi Biologics Included in UNGC 20 Case Examples of Sustainable Development for 20 Years Collection

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Leading Green CRDMO Driven by Innovation for a Healthier FutureOffering End-to-end Green Biologics Solutions for the Entire Industry

SHANGHAI, Dec. 12, 2024 /PRNewswire/ — WuXi Biologics (“WuXi Bio”) (2269.HK), a leading global Contract Research, Development, and Manufacturing Organization (CRDMO), today announced that it has been included in the “20 Case Examples for 20 Years: Private Sector’s Sustainable Development in China” report initiated by the United Nations Global Compact. The company has been invited to UNGC global roadshow and has earned recognition for its effective and dedicated efforts to continue the advancement of green biologics solutions for a healthier future.

The year 2024 marks the 20th anniversary of the ESG (Environmental, Social and Governance) concept put forward by the UN Global Compact, and a series of ESG+20 celebration activities have been launched, with the “20 Case Examples for 20 Years: Private Sector’s Sustainable Development in China” report being a crucial component. The report aims to showcase best practices in ESG as a way to reveal contributions by companies successful in sustainability development transformation, as well as to share their innovative ideas and actions with the world.

Commenting on the report, Sanda Ojambo, Assistant Secretary-General of the United Nations Global Compact said, “On the occasion of the 20th anniversary of the introduction of the ESG (Environmental, Social and Governance) concept by the UN Global Compact, and the upcoming 25th anniversary of the UN Global Compact, our China Liaison Office has specially curated sustainability case studies from enterprises in China. These companies are distinctive in that, while pursuing economic development, they reflect their unique commitment to sustainable development. These cases not only highlight the economic efficiency, innovation and inclusivity of Chinese enterprises but showcase their efforts to balance social responsibility, environmental protection and economic growth. Through diverse sustainable development strategies, these enterprises promote the application of green technologies, responsible resource usage and community development, enriching the sustainability connotation of the Chinese economy and providing valuable experience and insights for global sustainable development goals.”

Dr. Chris Chen, CEO of WuXi Biologics and Chairman of its ESG Committee, commented, “We are honored to be included in the UN Global Compact report, which showcases our distinctive business model and the firm commitment to pursuing sustainable development. As a global leader in Green CRDMO, we continuously strive to deliver our own ESG excellence, while remaining dedicated to enabling global partners with end-to-end green biologics solutions driven by innovation — from green research,  green development, to green manufacturing. Going forward, we will keep pushing industry boundaries, jointly working with all stakeholders to promote responsible practices throughout the whole value chain.”

As a participant of the UN Global Compact, WuXi Biologics actively drives innovation and operational efficiency through green technology, and continuously makes contributions towards the United Nations Sustainable Development Goals. The company integrates green technology into its research, development, and manufacturing processes. In particular, it boasts of the proprietary universal bispecific antibody platform WuXiBody™ for green research; ultra-intensified fed-batch production platform WuXiUI™ and ultra-high productivity continuous processing platform WuXiUP™ for green development; and Single-Use Technology for green manufacturing. These technology platforms and processes can expedite timelines and increase productivity, while at the same time minimizing carbon footprint and end-of-life environmental impact through significant reductions in resource and energy consumption, and waste generation.

Over the past several years, WuXi Biologics has earned a number of recognitions for its significant progress in pursuing sustainable development. It was granted an AAA rating from MSCI ESG Ratings for two consecutive years; included in the DJSI World Index and Emerging Markets Index; awarded the distinguished Platinum Medal by EcoVadis; recognized as an Industry and Regional Top-Rated Company by Sustainalytics; named to the CDP Water Security “A list” and awarded an “A-” CDP Climate Change score; selected as a Constituent of the FTSE4Good Index Series; and included in the Hang Seng ESG 50 Index.

About the United Nations Global Compact Liaison Office in China
Since the establishment of the United Nations Global Compact Liaison Office in China in 2017, we have become increasingly convinced that Chinese enterprises and multinational companies operating in China are a positive force in advancing sustainable development for the planet at large.

As the world’s largest developing country, China not only boasts the most Fortune Global 500 companies (with 142 companies listed in 2023) but also hosts over 44 million small and medium-sized businesses. The sheer scale of China’s domestic economy, overseas investments and trade significantly influence the well-being of billions of people and the progress of sustainable development worldwide, underscoring the magnitude and importance of our collective work.

The United Nations Global Compact Liaison Office in China, with over 1,100 participants from various industries as of July 2024, tailors four major accelerator programmes for these participants: the Climate Ambition Accelerator (CAA), the Target Gender Equality (TGE), the SDG Innovation Accelerator for Young Professionals (SDGI) and the SDG Ambition Accelerator (SDGA).

Through programmes and events focused on climate change, zero-carbon transition, gender equality, supply chain resilience, sustainable business innovation, Sustainable Infrastructure for the Belt and Road Initiative to accelerate the SDGs, Sino-Africa Corporate Community Action Network on Sustainable Development and Global Development Initiative for SDGs Pilot Projects, we help to foster innovative and action-driven partnerships and support our Chinese participants to move towards a sustainable future along with partners from all over the world.

About WuXi Biologics
WuXi Biologics (stock code: 2269.HK) is a leading global Contract Research, Development and Manufacturing Organization (CRDMO) offering end-to-end solutions that enable partners to discover, develop and manufacture biologics – from concept to commercialization – for the benefit of patients worldwide.

With over 12,000 skilled employees in China, the United States, Ireland, Germany and Singapore, WuXi Biologics leverages its technologies and expertise to provide customers with efficient and cost-effective biologics discovery, development and manufacturing solutions. As of June 30, 2024, WuXi Biologics is supporting 742 integrated client projects, including 16 in commercial manufacturing (excluding COVID CMO and non-COVID dormant CMO projects).

WuXi Biologics views Environmental, Social, and Governance (ESG) responsibilities as an integral component of our ethos and business strategy, and we aim to become an ESG leader in the biologics CRDMO sector. Our facilities use next-generation biomanufacturing technologies and clean-energy sources. We have also established an ESG committee led by our CEO to steer the comprehensive ESG strategy and its implementation, enhancing our commitment to sustainability.

For more information about WuXi Biologics, please visit: www.wuxibiologics.com

Contacts
Media
PR@wuxibiologics.com 

Business
info@wuxibiologics.com 

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SOURCE WuXi Biologics

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EQUIDUCT WELCOMES IBROKER AS THE LATEST TRADING PARTICIPANT TO JOIN APEX

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MADRID, Dec. 12, 2024 /PRNewswire/ — Equiduct, the retail-focused pan-European exchange, announced today that iBroker Global Markets S.V. is the newest trading participant to join its Best Execution service, Apex.

iBroker is the leading online broker in listed derivatives in Spain, specializing in the retail segment. Now, with its incorporation into Equiduct and as part of the company’s new strategic plan, it is expanding its product offering to include European equities and ETFs.

iBroker and its clients are already leveraging Equiduct´s high quality market data products, which offers a real-time consolidated view of liquidity from twelve major European markets.

By joining Equiduct, iBroker and its retail investors’ client base, now have access to pan-European liquidity for over 1,900 stocks and ETF, joining over 7 million retail end clients that already benefit from the best-in class execution and market-data services provided by Equiduct.

Equiduct is fully committed to working alongside the Spanish retail brokerage community to ensure that an ever-growing number of individual investors receive the best possible execution for their transactions in Spanish & European equities and ETF.

Enrique Martí, CEO, iBroker, said: “Our incorporation into Equiduct strengthens iBroker’s commitment to providing our clients with the highest quality execution when trading in European equity markets. For retail investors, ensuring transparency in execution is not just an added value but an essential obligation. Thanks to Equiduct, we now have advanced tools that enable us to meet this premise in an exceptional way.

We are excited about this new chapter, where we aim to position iBroker Global Markets not only as the benchmark for Spanish investors specializing in derivatives but also as a prominent option for a new profile of retail investors interested in equities, ETFs, and savings and investment products.”

Wail Azizi, Chief Strategy Officer at Equiduct said: “I’d like to congratulate and welcome Enrique, Jon and the wider iBroker team to our exchange. We are delighted to be their chosen partner for expanding their retail business into European equities and ETFs. By delivering Best Execution on Europe’s most popular names and cost-effective high-quality data, we enable iBroker to offer unparalleled value to their retail investors.

iBroker’s success in the derivatives market demonstrates their leadership in making financial markets accessible to retail investors. Their strong commitment to financial education aligns seamlessly with Equiduct’s mission to promote and empower retail investment. This partnership reflects our shared dedication to driving positive change in pan-European trading for retail investors.”

Notes to editors

About Equiduct
Equiduct is an innovative, client driven pan-European exchange enabling retail brokers and institutional clients to achieve Best Execution in the most fragmented stocks and ETFs across 12 markets covering 16 European headline indices. Equiduct is a market segment of Börse Berlin, a regulated market operator under Article 44 of MiFID II. Börse Berlin is regulated by the Competent Authority Senatsverwaltung für Wirtschaft, Energie und Betriebe – Börsenaufsichtsbehörde and participation in trading is governed by German and European law. In 2023 it reported a turnover of €79bn and an overall ADV (average daily volume) of €310m.

About iBroker
iBroker Global Markets Sociedad de Valores is a leading Spanish online broker specializing in derivatives for retail investors. It provides brokerage services for futures and options on major international markets such as CME Group and EUREX, as well as OTC derivatives including CFDs and Forex.

The firm offers advanced trading platforms, developed in-house with a strong emphasis on technology. Its mission is to deliver an intuitive, secure, and efficient investment experience across both web and mobile platforms, with seamless integration options for leading solutions like TradingView and Visual Chart.

Through its recent agreement with Equiduct, iBroker has expanded its financial product offering to include European stocks and ETFs. The company plans to continue adding new products throughout 2025, reaffirming its commitment to innovation and diversification.

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