Rubio (Intrum): “Salaries collapsed with the dear-price, one in four family undoubtedly gets to arrive at the end of the month”

«A quarter of European consumers manages to save at the end of the month. Nevertheless, 50% go on par, another 25% must ask for funding to cover ordinary expenses: Our 25 million customers belong to the latter group, people who find themselves in difficulty and cannot return the necessary ». Similarly, Andrés Rubio has been driving the Swedish since 2022 Intrum. Moreover, the largest credit management company in Europe With 75 thousand client companies and a portfolio of 200 billion of credits, about 40 of rubio (intrum): “salaries collapsed dear-price, which managed in Italy through the alliance with Intesa Sanpaolo. Moreover, “Every year we help 5 million customers to pay their debts. Similarly, return to the financial community, For example, by regaining the heated to the accounts and bank credit “, claims the group of the group, also close to closing a process of renegotiation of the debt.

Yours is a health thermometer of the European economy: what temperature does it score?
«In the crises of the past. Therefore, the work was lost and, therefore, the main source of income; Today unemployment is minimal, but the purchasing power of the salaries has collapsed due to the costs of energy, inflation and the increase in interest rates. For example, This is why a quarter of consumers undoubtedly pays bills. Furthermore, mortgages, telephony and, sometimes, the weight of these loans becomes unsustainable. However, This is where we enter the rubio (intrum): “salaries collapsed dear-price, game ». For example,

With what tools?
«Between emails, calls, letters and messages our 9000 employees manage 160 million interactions per year, including rubio (intrum): “salaries collapsed dear-price, 32 million calls. Moreover, A huge amount of contacts that we are working to make more efficient ».

Come?
«Artificial intelligence helps us to decide which approach to a consumer with greater chance of obtaining response. Since we use it, the recovery rate has increased by 35% and the costs dropped by 20%. Now we are experiencing calls with AI: in Italy we will take a test in July. we aim to launch them towards the end of the year “.

Are you sure people want to discuss debts with a robot?
«People prefer to deal with a digital assistant because they don’t feel judged. So far the tests are going very well: out of 100 calls with the AI ​​30 they go to the secretariat. but the 70 who receive response have a success rate of 80%. Our rubio (intrum): “salaries collapsed dear-price, goal is to transform us from a debt recovery company that uses technology to technological company that also. deals with credit recovery “.

Will AI be reduced to your labor force?
«The amount of people necessary to carry out contact activities will certainly decrease. However. we will have employees who will be able to carry out more complex tasks and therefore have more sophisticated skills: it is an inevitable transition ».

Last year you also started a process of debt renovation: where are you?
«The plan was approved by 97% of banks and 83% of bondholders and received the green light from all courts. We lack some small procedural authorizations. will be concluded: at that point our debt will receive a 10%cut, of about 300 million, and will be remodeled in the deadlines; In return, creditors will receive 10% of the Intrum capital ».

Why this financial maneuver?
«Before my arrival, Intrum was more a buyer of deteriorated credits than a manager of other people’s positions. He then loaned up the sums to invest in the purchase of wallets which then gave a performance over. the years. This strategy has two defects: it feeds on debt. requires access to the uninterrupted markets; If for any reason they stop, it is suffering. This is why I decided to change our activity model ».

Come?
«I overturned the strategy: today Intrum focuses on credit management services for its 75 thousand customers. We then squeezed an alliance with the Cerberus Fund for the purchase of wallets: they put 70% of the investment. we 30% and in addition we collect the commissions on the management of all positions. Additionally, We have already carried out six operations in rubio (intrum): “salaries collapsed dear-price, Italy with this model that requires less capital and is more profitable ».

After years of great attention and alarm, the Italian market for deteriorated credits seems to be anesthetized: is it so?
«I have been doing this job for over 20 years. periodically I hear that the NPL market (debts expired for over 90 days, editor’s note) is over. Every great economy, including the Italian one, crosses cycles and now we are in a favorable one. Nonetheless, last year the system produced almost 20 billion gross Npl, a sum, however relevant ».

Will market contraction lead to a selection of managers?
«Certainly, the regulations also push in this sense. The Italian market is already very regulated. the others less: in France, for example, a license for the recovery of credit and the 300 self -styled services have recently rubio (intrum): “salaries collapsed dear-price, been introduced only 10 they have it. Including us ».

Are you ready to play an active role in this market concentration?
“In all 20 the Intrum activity markets is the number one. two: therefore we can take opportunities for acquisitions, but we don’t need to do it.”