In line with its objective to protect the credit card consumers, CCAP partnered with Collectius, a debt management company.
Since credit card issuers sell their delinquent loan portfolios to 3rd party debt collectors ,CCAP wants to ensure that cardholders who pay off their debt are properly documented. To make this possible, CCAP partnered with Collectius to enable it to update the status of the accounts that they have acquired from several major banks in the Philippines once fully paid. “This enhancement allows us to streamline the debt settlement process and provide our customers with even more comprehensive solutions. By prioritizing accuracy, transparency, and client benefits, we strive to deliver a seamless experience for our valued customers.” – Alexandru-Mihai Mina, Managing Director- Philippines, Collectius
Founded in 2014, Collectius has become one of Asia’s leading fintech companies in debt management services, with a strong presence in Singapore, Indonesia, Philippines, Malaysia, Thailand, Vietnam, and India. With a rapidly growing footprint of more than six million customers, Collectius has become a trusted entity in managing non-performing loan portfolios valued at over US$7 billion. It utilizes a customer-centric philosophy supported by a data-driven platform.
CCAP’s partnership with Collectius signifies its commitment in supporting BSP’s advocacy for providing an environment that protects the interest of financial consumers. “With this we have achieved another milestone in driving consumer protection. Cardholders need not worry because their payment history is now updated” – Alex Ilagan, Executive Director, CCAP