Market Share of Debt Collection Software Industry
The debt collection software market exhibits a semi-consolidated landscape, with moderate penetration due to the considerable presence of suppliers in the region. These entities are progressively engaging with various digital technology startups to introduce advanced solutions. Among the notable players in this market are Fidelity National Information Services, Inc. (FIS), CGI Inc., Fair, Isaac and Company (FICO) (Constellation Software Inc.), TransUnion LLC, and Pegasystems Inc.
- October 2023: SARS announced plans to outsource the collection of past-due debt older than five years to external third parties. The debt collectors will help with past-due debts when there is no current payment or attempts have been made to create payment arrangements. SARS is beginning to inform the impacted taxpayers of its intention to turn them over before this action, allowing them to regularize their tax affairs. This decision by SARS reflects the increasing recognition of the efficiency and expertise that external debt collection agencies can bring to the recovery process.
- October 2023: Mobicule Technologies launched MCollect, a phygital Debt Resolution service to enhance the capabilities of the debt collection and loan recovery market. This solution brings a more streamlined and effective debt collection and resolution approach by combining digital outreach with customer-oriented call centers. This way of responding to user behavior combines the use of digital + AI + manual calls and increasing collection efficiency after delinquencies.
Debt Collection Software Market Leaders
Fidelity National Information Services, Inc. (FIS)
CGI Inc.
TransUnion LLC
Pegasystems Inc.
Fair, Isaac and Company (FICO) (Constellation Software Inc.)
*Disclaimer: Major Players sorted in no particular order
