We want to change things for the better. The EOS Group has defined its sustainability goals in its Corporate Responsibility (CR) strategy. It lends structure to our commitment and encourages us to act even more responsibly.
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Intro
‘For us, debt collection means taking responsibility – not only for the company’s own employees and clients, but also for consumers, society and the entire debt collection industry. In short, changing for the better.’
Marwin Ramcke
Chairman of the EOS Group’s Board of Directors
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Sustainability Strategy and Goals
Receivables management means taking responsibility
We are successful in business because we embrace change and take responsibility for all that we do. We want to change things for the better for our clients and employees, but also for consumers, our industry, and society.
Sustainability is an integral part of our corporate responsibility. Our CR activities go beyond environmental protection. As an international finance service provider, we are especially committed to social responsibility and corporate governance.
EOS further elaborated its CR strategy with the involvement of internal and external experts and developed a materiality matrix in 2022. It represents the most important sustainability topics for our external stakeholders, as well as for EOS, and forms the basis for the future direction of EOS' sustainability strategy.
Global responsibility: The UN Global Compact
The EOS Group joined the United Nations Global Compact, the world’s largest pact for corporate responsibility, in 2021. As a member, we pledge our commitment to the compact’s 10 principles on human rights, labor, environment and anti-corruption. Each new member first must derive its own goals from the 10 principles. We did so in the past year, identifying our goals from the UN’s 17 Sustainable Development Goals (SDGs) to which we can make the most effective contribution. The SDGs we selected, along with the associated key figures and goals are important benchmarks in our corporate responsibility strategy. As required by the Compact, we will report on our progress once a year in our “Communication on Progress” (COP).
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News and Activities
Acknowledged with an excellent ESG risk rating from Morningstar Sustainalytics
In December 2023, the EOS Group received an ESG risk rating from renowned rating agency Morningstar Sustainalytics. They gave us a score of 10.2 (low risk), which puts us among the top two percent in the "Consumer Finance" sector.
"With the independent ESG rating, we are making our contribution to sustainable development transparent. The top ranking shows that our corporate responsibility strategy is successful and that we are very well positioned in many areas," CEO Marwin Ramcke explains.
Together with our partners, customers and the future generation, we are shaping a world in which sustainability is a priority for everyone.
ESG stands for "Environment", "Social" and "Governance".
The EOS Board on the 2023/24 financial year: How business has developed in the regions, why sustainability remains a key focus area, and how EOS is optimally prepared for the future.
Commitment to strategy: Sustainability is becoming a success factor for financial companies. ESG experts at EOS are driving environmentally conscious and socially responsible action internationally.
Now for the third time, EOS was calling on its employees to take part in the innovation contest. The goal: promoting international collaboration and enhancing performance.
The central question in responsible debt collection is: How do we handle defaulting consumers? As EOS demonstrates, there is more than one good answer to this question.
Whether they are a bank, energy utility, telecoms or e-commerce firm, EOS helps businesses from a wide range of sectors to reliably plan ahead by purchasing their unsecured receivables.
Almost half of EOS national subsidiaries work with Kollecto+. The digital collection system is making great strides and offers customers and consumers alike many benefits.
Win-win: EOS North Macedonia is taking on Uni Banka’s receivables management in the long term. The collaboration doesn’t just benefit the two companies but also the country’s economy.
In Poland and southeastern Europe, IFC (International Finance Corporation) and EOS apply strict ESG criteria covering social and environmental aspects when buying NPL portfolios.
“Programmed revolution”: The EOS Group is optimizing its digital receivables management with robotic process automation, freeing up staff for more complex and creative tasks.
Generative AI offers companies enormous potential. The Otto Group reduces these risks with its in-house ogGPT tool. The EOS Group also benefits from this.
Already, generative AI can handle a lot of typical tasks in financial services companies. EOS is testing how chatbots can reduce employee workload even more and improve their efficiency.
A survey reveals that generative AI like ChatGPT offers companies potential applications in numerous areas. In the area of risk and finance, it also harbors untapped potential.
The number of unusable properties is growing, partly as a result of increasing requirements for sustainability. EOS is developing new areas of expertise to bring stranded assets like these back onto the market.
In this interview, the members of the Board of the EOS Group talk about the positive developments in fiscal 2022/23, employees, diversity, and the responsibility of debt collection companies.
Using cutting-edge technology, EOS protects the data of customers and consumers from attacks by criminals. The new cyber-shield “Iron EOS” makes this an even faster and more efficient process.
EOS stands for fair and respectful receivables management. The debt collection company accomplishes this with technology that simplifies processes for consumers and with trained staff.
A lack of financial education can accelerate the path to excessive personal debt, especially among young people. With its debt collection expertise, EOS supports financial literacy programs that aim to counter such developments.
Cross-border receivables present both logistical and legal challenges. Car rental company Hertz relies on the expertise of EOS for its international debt collection.
EOS is active in 180 countries with its own companies or selected partners. Banks that regularly sell cross-border debts to EOS also profit from this network.
Who saves more, who makes decisions more confidently, and who has greater financial reserves? An EOS study reveals how differently men and women handle financial issues – and suggests possible reasons.
EOS in France is planting trees to aid reforestation. Read here how the campaign is reinforcing employee awareness of climate protection and contributing to a more sustainable future.
How have rising prices affected the financial situation of consumers? An EOS study reveals that many people have had to take on debt to compensate for inflation.
Do you think young people have no desire to deal with their own finances? As a recent survey shows, this is certainly not the case. The level of interest is great – as are their fears for the future.
Corporate Social Responsibility is no longer new. What may be new to you is Corporate Digital Responsibility (CDR). Read on to learn more about CDR, also known as “digital ethics”, influences how companies act digitally and how we as users interact with them and their services. To date, practicing CDR is voluntary, so why bother? Isn’t it just extra time and effort for the IT department?
In 2015, the Polish debt collection market was still in a crisis mood. In an interview, Managing Director Dariusz Petynka tells how he faced the situation and shares his insights.
Record inflation and rising energy prices threaten the purchasing power of companies and their ability to invest: Here is how you can mitigate the effects.
EOS has joined forces with other debt collection service providers to form associations. Their aim: to provide a standardized framework of action for the industry that treats everyone involved fairly.
What is the current market situation of non-performing loans? How does the risk management of NPLs through ESG criteria work? And what is the aim of the cooperation between IFC and EOS? Ariane Di Iorio and Vittorio Di Bello from IFC provide insight on these questions.
Many European companies are concerned about their survival, as a growing number of consumers and business customers are paying outstanding invoices late or not at all.
Survey reveals that companies have failed to digitalize their receivables management during the pandemic. What companies should do now to counter poor payment practices and repayment rates.
Sustainable financial sector: EOS and IFC are buying up non-performing loans and distressed real estate so that financial institutions in Bosnia and Herzegovina, Croatia, Serbia and Romania can improve their liquidity faster.
Joining the UN Global Compact is helping EOS to devise a strategy for its corporate social responsibility. How can the goals of the initiative be applied to your own business?
EOS has greatly expanded its expertise in the processing of non-performing secured loans in recent years. Experts from two EOS countries share their experiences and provide insights into two very different markets.
When goods are ordered under a false name, retailers are often left with the costs. RISK IDENT has developed a software that uses artificial intelligence to put a stop to identity fraud in e-commerce.
We take on social responsibility within the EOS Group by promoting empowerment, diversity and inclusion, and in society through our educational initiatives.
As a strong member of the Otto Group, EOS supports the Group’s climate protection strategy, that pursues the Paris Agreement goal of limiting global warming to 1.5 °C. Together we work on implementing targeted measures.
EOS advocates strong, binding industry standards and responsibility guidelines. We apply strict criteria when we price portfolio purchases and make other investments.
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