28 – 30 September 2018, was held I ALL-RUSSIAN FORUM of LEADERS of the MARKET RECOVERY in Yalta in Crimea. It was devoted to the main trends in the collection industry. MBA Consult was one of the sponsors of the event.
The forum traditionally brings together top management of the relevant departments of the Russian largest banks and leading collection agencies, as well as representatives of government institutions and professional associations.
The recovery market is evolving dynamically: new technologies are developing, issues related to improvement of the legal framework are raised, new markets and prospects are opening up. During the forum, speakers try to raise the most acute problems of the industry and highlight new market trends.
A lot of attention was given to IT and technical innovations. Artificial intelligence and Data science penetrate globally into all spheres of activity: functional robot operators, convenient and transparent trading in market places, mobile workplaces, effective Big Data tools that can be used to implement a variety of tasks and goals.
Representatives of the industry are not only interested in new technologies and decisions, but also try to exchange knowledge and experience with foreign companies. The forum presented interesting international cases: the Institute of private bailiffs in Kazakhstan, peculiarities of doing business in Asia, the collector mentality and attitude to debt in Europe.
Viktor Vodenko, the Global CEO of MBA Consult, spoke about business development in Asia, announced the unification of all companies of the Group and introduced the new brand of MBA Consult. “Market opportunities and strategic challenges demanded us to introduce new solutions in both areas: consolidation of resources, and visual perception of the company. The new corporate style is closer to our values, philosophy, and new mission,” – commented Viktor Vodenko, the Global CEO.
Global CEO spoke about the Asian region and the specifics of collection services development in this part of the globe. Asia is a very promising region for business development and large investments: “4 bln people inhabit this region, and it’s a half of the world’s population. According to the World Bank, the volume of the credit market in Asia is $11 trillion, and the volume of NPL is about $518 bln. The market of these countries is developing rapidly, more and more people are joining the credit products – the growth of retail crediting is increasing by 200-300% annually.”
However, along with the bright prospects, there are certain difficulties: the lack of a recovery market and rules for the participants of the process. A weak legislative framework does not allow to settle clear rules for business operating and requires to be changed. All these nuances negatively affect the business itself. “The risk to lose a lot of money without any guarantee to return them back is very high,” – commented Mr. Vodenko. “At the same time, Asia remains one of the most attractive markets in the world. We came here 5 years ago, made some mistakes. We learned from them. Now we are confidently striving towards victory.”
I ALL-RUSSIAN FORUM of LEADERS of the MARKET RECOVERY is a key event of the industry and the universal platform where each participant had an opportunity to discuss the main trends and prospects of cooperation, to gain unique experience, to analyse interesting cases, as well as to ask questions to the regulator online.