“We are committed to providing high-level technology-based services, with an emphasis on two areas: the use of Artificial Intelligence (AI) for digital collections and ‘participation’ in the customer’s activity from the invoicing stage and payments,” Giorgos Georgakopoulos, Intrum’s Global Head of Servicing and Intrum’s managing director in Greece, underlined speaking at an event as part of NPL Europe 2024, organized by Smith Novak in London.
“Companies that entrust us with the management of their claims point out to us that they first choose us for our professionalism and knowledge of their industry. These are banks, telecommunications, insurance companies, medium-sized enterprises of all kinds, etc. Furthermore, investment in technology is key and enhances efficiency and added value, with new, innovative solutions. In this context, we acquired two companies, Ophelos in Great Britain, which makes digital collections, and eCollect in Germany, which cooperates with the customer from the stage of issuing electronic invoices,” Georgakopoulos said.
The Head of Servicing at Intrum Group estimated that investment activity in the receivables management market in Europe will recover at the European level, as evidenced by transactions.
Georgakopoulos noted that the mobility in the market comes in Southern Europe from the banking sector and in the rest of Europe from other sectors while he predicted that there will be changes in the structure of the market pan-European as a result of the new regulations, such as the Directive on the purchase of NPLs and the regulatory framework for personal data protection, which have strict requirements, which can be met by larger servicers who have expertise in the whole “path” and all kinds of requirements and can raise funds.
In this context, mergers or acquisitions are possible, such as the recent absorption by Intrum of an important platform in Great Britain with activity in investments and management and another important real estate platform in Spain.
