Blog Posts Process Analysis

FICO Survey: APAC Consumers Taking Longer To Pay Bills

Blog: Enterprise Decision Management Blog


It’s Christmas time again and apart from the jingling of bells it’s also a time for the juggling of bills. And apparently, that’s getting harder than ever in Asia Pacific.
That was the firm message we got from our Asia Pacific collections managers when we polled them about what had been happening with their customer base over 2016. Three in five respondents from banks, telcos, and utilities revealed that their customers have taken longer time to pay their bills in the past year.
The 60-days past-due segment has seen the highest growth according to 41 percent of respondents. 72 percent of collections managers also registered an increase in the number of first-time delinquents.
This is in keeping with figures out earlier this year from Moody’s that reported household debt in Asia has grown at an average of 13.5 percent a year. Our survey, conducted last month at our FutureCollect event in Cairns, Australia, also revealed that that mobile communications and automated collection strategies were very effective at helping customers make payments. 59 percent of respondents said consumers paid their bills one to two days faster while 25 percent said their time-to-collect improved three to fourteen days.
In terms of the growth of collections cases in 2017, the survey showed that three in four collections managers anticipate a 10-25 percent increase next year. Half of the Chinese attendees expected there would be a 25-50 percent or greater increase in collections cases. Most put this down to natural business growth as well as an increase in the number of higher-risk customers their companies are willing to sign up.

Read more about the findings in the media release

Listen to the topic discussed on 2UE talkback radio in Australia (starts at 14:30)

The post FICO Survey: APAC Consumers Taking Longer To Pay Bills appeared first on FICO.

Leave a Comment

Get the BPI Web Feed

Using the HTML code below, you can display this Business Process Incubator page content with the current filter and sorting inside your web site for FREE.

Copy/Paste this code in your website html code:

<iframe src="" frameborder="0" scrolling="auto" width="100%" height="700">

Customizing your BPI Web Feed

You can click on the Get the BPI Web Feed link on any of our page to create the best possible feed for your site. Here are a few tips to customize your BPI Web Feed.

Customizing the Content Filter
On any page, you can add filter criteria using the MORE FILTERS interface:

Customizing the Content Filter

Customizing the Content Sorting
Clicking on the sorting options will also change the way your BPI Web Feed will be ordered on your site:

Get the BPI Web Feed

Some integration examples