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Legislative and Economic Trends Driving Change in US Credit Card Issuers' Collections Outsourcing

Product Type: Market Research Report
Published by: TowerGroup
Published: March 2006
Product Code: R301-872
Description
Legislative changes and economic circumstances are about to converge to form a "perfect storm" with potentially damaging consequences for the US credit card market. This TowerGroup Research Note identifies these factors and considers their likely cumulative impact on the US credit card market. The Note outlines how market events will necessitate a change in the industry paradigm for collections. The analysis also quantifies the market impact on offshore outsourcing vendors and explains why the offshore outsourcing trend can be expected to continue.
Table of Contents
TowerGroup Take-Aways




Report Coverage




Background




Changes in the Credit Card Landscape

Household Debt


Exhibit 1: US Household Credit Card Debt (1993-2005)

Exhibit 2: Number of Credit and Charge Cards in the United States vs. Number of Households (1992-2005)


Changes to Bankruptcy Law


Exhibit 3: Quarterly Nonbusiness US Bankruptcy Filings by Chapter (2000-05)


Changes in the Minimum Payment

Potential Impact on Credit Markets




Implications: Growth of Outsourcing

The BPO Market: Why India?


Exhibit 4: Global Market Share of BPO Processing by Region (2005)


Training Is Key

Startup Challenges: Understanding Cultural Differences


Exhibit 5: Comparison of US In-house, US Outsourced, and Indian Offshore Call Centers (2005)

Exhibit 6: Indian Call Center Collection Positions (2005-10P)




Summary
Ordering and More Information
Price and Delivery Options


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