Seizing the Opportunity in Uncertain Times: The Collections Industry in 2023
Trends, challenges and innovations reshaping third-party collections
For third-party collectors, 2023 was a mixed bag. On one hand, inflation and economic uncertainty drove consumers to amass higher levels of debt — a favorable development for the industry. On the other, third-party collectors suffered from the same pernicious effects of inflation as other industries, with rising costs and staffing shortages dragging down growth.
To explore the year in more detail, download your copy of TransUnion’s new, in-depth market report prepared in collaboration with research firm Datos Insights. It provides insights into:
- How interest rate hikes impacted consumers’ outlooks on paying debts
- The big expenses firms must brace themselves for in 2024
- How collections agencies said they’re adjusting to current and emerging economic conditions
- The impact of artificial intelligence and machine learning
Learn what’s going on in the industry now, where we go from here — and how you can best position your organization for the future.
Get your copy of Seizing the Opportunity in Uncertain Times: The Collections Industry in 2023.