The Collections and Recovery Summit India 2024 concluded on a high note, marking a significant milestone in the evolution of the debt collections and recovery industry in India. Held on the 7^th & 8^th August at The Leela, Mumbai, the summit brought together over 400+ professionals from across the Banking and Financial services sector, including senior executives, regulators, legal experts, and tech- nology innovators.

Some of the key discussion covered were:

• Evolution in Debt Recovery in Corporate – Regional and Global Perspective
• Digitization of Lending & Financial Inclusion.
• Ensuring Data Security and Privacy in Debt Collection: Safeguarding Sensitive Customer Information to Maintain Industry Integrity
• Risk management in Collection & Recovery ecosystem.
• Risk Culture as a source of Competitive Advantage in BFSI.
• Risk Assessment & Mitigation Strategies.
• Enhancing Financial Recovery and Collection through Insurance: Opportunities and Challenges.
• Balancing collections between technology and regulations.
• Readiness of Collections to handle Tiers Cities.

The opening panel discussion titled as: Weaving Collections & Recovery into a Business Strategy in which esteemed speakers from the industry took the stage:

• Rishabh Goel, Co-Founder & CEO of Credgenics
• Himanshu Bhattacharjee, Business Head Home Loans & Head of Collections at Jio Financial Services
• Debjyoti Datta, Senior Vice President- National Collection Head - LAP & EEG at HDFC Bank
• Rahim Khan, General Manager Collection & Credit Management at Mahindra Holidays & Resorts
• Ashish Lakhtakia- Chief Legal & Compliance Officer and Company Secretary- Future Generali

The Event was sponsored by several top-notch Collections solutions providers -

• Collections Technology Partner – Credgenics.
• Gold Partners – Otobids, ClearTouch, Enterprise Tiger and goCollect. 
• Silver Partners – Provakil, Easy Recovery, Freed, Newowise, Conneqt Business Solutions, Good Score, CredCollect and Dista.
• Conversational AI Partner – Rezo.ai.
• ODR Partner – Wevaad.
• Exhibitor – Vymo.

The event Concluded with an Award Ceremony honoring and recognizing the pioneering and trailblazing banks and financial services providers in collections and risk management who have demonstrated unparalleled excellence and innovation. These awards recognized the exceptional strategies, cutting-edge technologies, and outstanding leadership that drive industry standards forward from both Public and Private Sector Banks.

The Award Categories and their respective winners -

1.Innovative Risk Management Framework- Collection Practices – Public Sector Banks Category

Winner of the award: Mr. Girish Patnaik, Head Receivables Management Risk at Bank of Baroda.

2.Portfolio Management Strategies - Receivables Management- RAM – Public Sector Banks Category

Winner of the award: Mr. Ashish Jain, Head –Strategy & Receivables Management at Bank of Baroda. 

3.Collections Technology Use case -Debt Management

Winner of the award: Mr. Muppuri Naveen Kumar- Head Legal Operations at TVS Credit Services Ltd.

4.Collections Technology Solution-Debt Management

Winner of the award: Credgenics.

5.Team Award: Receivables Management Functions-Business Re-Engineering – Public Sector banks Category

Winners of the Team awards: Mr Ashish Chandekar, Head of Projects & Process at Bank of Baroda and Mr. Lakshmi Kant, Deputy General Manager at Bank of Baroda.

6. Excellence in Stressed Assets Management Technology"

Awarded to: OTOBIDS Pvt. Ltd

7.Collections & Legal Recovery Solution Provider 

Awarded to: Provakil

8.Collections Strategy Management

Awarded to: Indostar Capital Finance limited.

Collections and Recovery Summit 2024 was organized by The Future Event – a Global productions company specialized in creating unforgettable moments and fostering exceptional relationships through bespoke and Industry corporate events tailored to your ideal client's profile, globally. Their expertise lies in client acquisition and bridging the gap between buyers and sellers, offering customized events, round table conferences, bespoke events and much more. Visit www.thefuture-event.com for more info.

Source : Press Release