India, Feb. 14 -- The debt collection sector has experienced a transformation with the financial services ecosystem adopting a digital-first, personalization and customer focus mode. The movement from physical interactions to an experience customized on various digital channels has turned data handling and data protection into an absolute necessity rather than an added-value feature.

In the area of debt recovery, this electronic evolution has reaffirmed the significance of information security since effective debt recovery in the modern era depends inherently on strong protection of sensitive data such as personal identification information and financial information.

The Indian debt collection industry is governed by a thorough regulato...