Distant neighbors: prospects for a first world credit economy in Mexico

Article Abstract:

The credit economies of the US and Mexico differ dramatically in spite of the countries' proximity to one another. Differences in credit policies and mechanism are partly the result of the late development of the Mexican credit industry. The credit market only began to grow in 1994 when then-president Carlos Salinas launched a campaign to privatize Mexican banks. The industry suffered a serious setback when the economy collapsed in late 1994. With inflation soaring, the value of the peso falling by half, and mortgage and credit card interest rates skyrocketing, Mexican consumers found it extremely difficult to repay their debts. Consequently, the credit economy came to a standstill. Fortunately, the outlook for the economy as well as the credit industry appears positive. The country is seeing the gradual return of foreign investment and price stabilization, and is currently enjoying a considerable trade surplus.

Cover Story, Mexico, Credit management

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The changing face of outsourcing

Article Abstract:

Outsourcing in the financial services industry has evolved into a proposition supporting total credit management processes. Outsourcing has become a way for companies to accommodate consolidation and deregulation trends, and competition concerns in the industry. Outsourcing companies now utilize a range of methodologies to minimize the number of accounts going bad while optimizing the amount collected from those that do. They also determine the creditworthiness of customers and maintain account records. In addition, outsourcing firms utilize various types of technologies to develop a better understanding of their clients' business and objectives. They also provide customer service and promote solutions to different types of business concerns.

Management, Outsourcing

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