Responsible Debt Collection in Emerging Markets

Emerging market economies have been experiencing high credit growth and high delinquency rates amongst retail banking customers in recent years. However, collections practices have not always kept pace with this rapid growth; many collectors still...

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Bibliographic Details
Main Author:	International Finance Corporation
Format:	Working Paper
Language:	English en_US
Published:	Washington, DC 2015
Subjects:	ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES AUTOMATION BANKING CUSTOMERS BANKRUPTCY FRAMEWORKS BANKRUPTCY LEGISLATION BANKS BEST PRACTICE BEST PRACTICES BOOKLETS BORROWER BUSINESS DEVELOPMENT BUSINESS REQUIREMENTS CALL CENTER CALL CENTERS CAPABILITIES CAPABILITY CASH REPAYMENT CENTRAL BANKS CHECKS CODE OF CONDUCT COLLATERAL COLLECTION PROCESS CONSULTING FIRM CONSUMER CONSUMER COMPLAINTS CONSUMER DEBT CONSUMER FINANCE CONSUMER FINANCE MARKETS CONSUMER PROTECTION CONTRACTUAL OBLIGATIONS CONTRIBUTION CONTROL SYSTEM CONVENTIONAL LENDERS COPYRIGHT CORPORATE SOCIAL RESPONSIBILITY CREDIT BUREAU CREDIT BUREAUS CREDIT CULTURE CREDIT GROWTH CREDIT INFORMATION CREDIT MARKET CREDIT RECORD CREDITOR CREDITORS CURRENCY CURRICULUM CUSTOMER EDUCATION CUSTOMER EXPERIENCE CUSTOMER INFORMATION CUSTOMER INTERACTION CUSTOMER INTERACTIONS CUSTOMER RELATIONSHIP CUSTOMER RELATIONSHIP MANAGEMENT CUSTOMER SATISFACTION CUSTOMER SERVICE DEBT DEBT COLLECTION DEBT COLLECTION CASE DEBT COLLECTIONS DEBT COLLECTOR DEBT COLLECTORS DEBT CRISIS DEBT OBLIGATIONS DEBT RECOVERY DEBT SERVICING DEBTORS DEFAULTS DELINQUENCIES DELINQUENCY DELINQUENCY RATES DEVELOPMENT FINANCE DEVELOPMENT FINANCE INSTITUTIONS DISCRIMINATION DISPUTE RESOLUTION DIVIDENDS ECONOMIC DOWNTURN ECONOMIC GROWTH EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKET ECONOMIES EMERGING MARKET LENDERS EMERGING MARKETS EMERGING MARKETS ECONOMIES EMPLOYEE EMPLOYMENT HISTORY ENTREPRENEURS EXPOSURES FINANCE CORPORATION FINANCIAL CONSEQUENCES FINANCIAL CONSUMER FINANCIAL DECISIONS FINANCIAL DISTRESS FINANCIAL EDUCATION FINANCIAL INSTITUTIONS FINANCIAL INTEREST FINANCIAL LITERACY FINANCIAL MARKETS FINANCIAL PRODUCTS FINANCIAL PROVIDERS FINANCIAL REGULATORS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SERVICES PROVIDERS FINANCIAL SITUATION FORECLOSURE FRAUD FRAUDULENT ACTIVITIES FUTURE CONTRACTS GENDER GLOBAL RISK GOOD CREDIT GOOD CREDIT HISTORY GOVERNANCE MECHANISMS GROWTH RATES GUARANTORS HOME LOANS HUMAN RESOURCE ID INCENTIVE MECHANISMS INCOME INDEBTEDNESS INFORMAL LENDERS INFORMATION INFRASTRUCTURE INFORMATION INFRASTRUCTURES INFORMATION SYSTEMS INFORMED CONSUMERS INNOVATIVE TECHNOLOGIES INSTITUTION INTERNAL AUDIT INTERNAL CONTROLS INTERNATIONAL FINANCE INTERNATIONAL LAW INVESTING INVESTMENT ADVICE JOB CREATION JOINT LIABILITY JURISDICTION JURISDICTIONS LEADERSHIP DEVELOPMENT LEGAL FRAMEWORK LEGAL FRAMEWORKS LEGAL INFRASTRUCTURE LEGAL RECOURSE LEGAL RIGHTS LENDER LENDERS LENDING CYCLE LENDING DECISION LIABILITY LICENSES LIMITED ACCESS LIMITED ACCESS TO FINANCE LOAN LOAN DISBURSEMENT LOAN PORTFOLIOS LOAN SERVICING MARKET CONDITIONS MARKET ECONOMIES MARKET LEADERS MATERIAL MATURITY MEDIUM ENTERPRISES MFI MFIS MICROFINANCE MICROFINANCE INSTITUTIONS MOBILE PHONE MOBILE PHONES MORAL HAZARD NEGOTIABLE INSTRUMENTS OPERATIONAL RISK OUTSOURCING OUTSTANDING DEBT PERSONAL BANKRUPTCY PORTFOLIO PORTFOLIO MANAGEMENT PRIVACY PRIVATE SECTOR PRODUCT DEVELOPMENT PROPRIETORSHIP PROTECTION OF CONSUMERS PUBLIC REGISTRY QUERIES RAPID GROWTH RECEIPT RECEIPTS REGULAR PAYMENTS REGULATORY FRAMEWORK RELIABILITY REPAYMENT REPAYMENT BEHAVIOR REPAYMENT RECORDS REPOSSESSION REPOSSESSIONS REPUTATION REPUTATIONS RESOURCE MANAGEMENT RESULT RESULTS RETAIL BANKING RETAIL BUSINESS RETAIL BUSINESSES RETAIL DEBT RISK MANAGEMENT SALE SALES SECURE FUTURE SECURITIES SELF-HELP SENIOR SERVICE PROVIDERS SMALL BUSINESS SMALL BUSINESS LOANS SOCIAL RESPONSIBILITY STAKEHOLDER STAKEHOLDERS SUPERVISION SUSTAINABLE DEVELOPMENT TARGETS TERMINATION TIME OF COLLECTIONS TURNOVER TURNOVER RATES UNIQUE ID VOICE CHANNELS
Online Access:	http://documents.worldbank.org/curated/en/2012/01/24120232/responsible-debt-collection-emerging-markets http://hdl.handle.net/10986/21738

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Summary:	Emerging market economies have been experiencing high credit growth and high delinquency rates amongst retail banking customers in recent years. However, collections practices have not always kept pace with this rapid growth; many collectors still rely on relatively unstructured processes and weak oversight frameworks. It is therefore important to consider how fair and ethical treatment of borrowers can be better promoted in these markets. To this end, International Finance Corporation (IFC) commissioned a study in 2009 to examine the question of what guiding principles should financial institutions follow to raise their responsible and ethical standards in collections. IFC has subsequently commissioned Oliver Wyman to study existing global retail debt collections practices and recommend tangible actions that lenders and collectors can take to promote responsible and ethical standards in the field. The conclusions of this study are based on field research conducted by IFC and Oliver Wyman, industry experts analysis and opinion, and a survey of institutions in 20 emerging markets.

Responsible Debt Collection in Emerging Markets

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