16 Jan 2024

Reflecting on Southeast Asia’s debt in 2023

As 2023 concludes, we are reflecting on the debt landscape across the region and our concerted efforts in broadening our portfolio to help more individuals across the region in their journey to becoming debt free.

Throughout the year, we strategically acquired four new portfolios, culminating in a notable 8 percent growth in our debt purchasing loan book since 2022 and now exceeds US$5.2 billion. Notably, our proactive approach led to the establishment of a fruitful end-to-end partnership with a leading digital bank in the Philippines. This constitutes one of our four key acquisitions made this year.

In terms of our clientele, our efforts have borne fruit, evidenced by a substantial 60 per cent year-on-year growth in the total debt servicing clients to more than 140 and over 170,000 new debt purchasing customers. This means we now support over 8 million people in our mission to improve personal finances and alleviate their debt across the region.

Our commitment to excellence is reflected in our total Assets Under Management (AUM) for servicing and debt purchasing, which has reached an impressive US$8.4 billion, showcasing a year-on-year growth of 18 per cent.

To accommodate our expanding customer base, we have bolstered our team by over 20% across our locations in Singapore, Malaysia, Indonesia, Philippines, Thailand, Vietnam, and India. This strategic growth marks our dedication to providing unparalleled debt management support and fortifies our position as a leader within the industry.

Through the use of advanced statistical frameworks and machine learning, we understand customers better and provide tailormade solutions for each customer need. Furthermore, we continue to invest in compliance and quality and have successfully obtained our ISO270001 certification in Indonesia, demonstrating our unwavering dedication to data security and building trust with our customers-a commitment that will extend to other countries by 2024.

To demonstrate our dedication to sharing insights and leadership within the debt collection industry, we proactively participated in the Consumer Lending and Bad Debt Collection Issues event organised by The State Bank of Vietnam as well as the Singapore Fintech Festival. These platforms enabled us to share industry best practices and showcase how Collectius delivers compliant and quality driven services for our clients.

Looking ahead, our focus will continue to be on expanding our ethical, compliance focused debt management support. We are committed to deploying even higher compliance standards to enhance quality and amplify our positive impact. With a growing portfolio and an expanding customer base across the region, we are excited to help more individuals on their journey to becoming debt free in 2024 and beyond.

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press@collectius.com