“While the internet and digital technology have transformed much of the global economy, change has come more slowly to the accounts receivable management (ARM) industry. That means that collection agencies, debt buyers and their clients have missed out on the early waves of new efficiencies and improved service models that just about every other industry now offers.
Yet change is definitely coming, and forward-looking agencies and buyers that embrace and prepare for that change will be able to win more business and provide better results for their clients – and a better experience for consumers. Most clients are already well down the digital path themselves. Financial institutions, hospitals and auto loan companies are all transforming and becoming part of the FinTech movement. FinTech, shorthand for “financial technology” is about the rapid digitization of the financial services industry.”
The article: ARM’s Digital Transformation is Here. Now.