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Forbearance, collections and COVID-19
The ten things that banks have to get right during the pandemic and beyond
COVID-19 presents banks and other lenders, administrators and debt collectors with a unique set of risk management challenges. In this fast-moving environment, the needs of your customers and guidance from governments may seem to change daily at times.
However, if you solve the challenges step by step, there is a way out of the current pandemic that will enable your collections teams not only to respond and recover but eventually to renew themselves. Along the way, here are the ten things you absolutely have to get right.
How Deloitte can help
Our clients are facing unprecedented demand for support from their customers who are facing once in a lifetime hardships. We are already helping many collections teams across the world respond quickly, safely and strategically – across each of these ten critical steps. To find out more about the topic, please contact one of the contacts listed below.