In the first half of 2022, the amount of debts entrusted to Julianus Inkasso for collection during its 27 years of operation exceeded one billion euros. In total, nearly 3 million debt claims have been processed in the Baltics since 1995. The company’s main customers are financial companies, companies serving businesses, telecom companies, utility service providers and public organizations.
According to Oliver Markvart, CEO of Julianus Inkasso, crossing the billion entrusted debt limit and the continued market leader position on the debt collection market shows that the company firmly holds the trust of Baltic customers: “Our customers include many large companies such as Telia, Elisa, Tele2, Swedbank, Eesti Energia, KredEx, G4S, Estonian Environmental Services, Elektrum, Tartu University Clinic and various utility service providers, and although most of the claims are of a few hundred or a few thousand euros, we have also been able to work with very large claims and solve them positively for the client. The permanent position of the market leader shows that we have won the trust of private customers, public sector organizations and private entrepreneurs in the Baltic market.” Julianus Inkasso is represented throughout the Baltics and Poland through its subsidiaries and carries out collections with the help of cooperation partners in 180 countries around the world.
Artificial Intelligence and Bitcoins
According to Markvart, the billion-euro mark has been crossed thanks to the company’s quick adaptation to the changing market situation and the fact that investments have been continuously made to modernize the processes in the collection field. “The machinery that we have built in Julianus is at the top level, not only in the sense of the Baltics, but in the whole of Europe. Artificial intelligence, in addition to the procedures, makes an important contribution to our entire procedural process, which makes the work fast and efficient. In addition to the modernization of debt collection services, we have created the companies Taust.ee and Accountscoring.com, which gather background information of companies and individuals, which help our customers collect and analyze the information needed to make credit decisions,” explains Markvart.
Twenty-seven years of operation and a billion can accommodate many different interesting cases that have required thinking outside the box. As one example, Markvart cites a recent case where a public sector company hired a workforce of PhD students to conduct scientific research on Bitcoin for a Singapore company. Unfortunately, the payment for the work done was not received, and the debt claim reached Julianus’ desk. “We managed to come to an agreement with the Singaporean company regarding the payment of the debt, but they agreed to settle only in cryptocurrency (Bitcoin). So we quickly created the ability to receive it, converted the payment into euros and our client got his claim settled,” Markvart recalls, how the client’s money was received thanks to quick action.
There is active work with debtors
The debt collection business is by its very nature an emotional field, and debt collection requires, above all, a lot of patience and persistence from debt processors. According to Markvart, in addition to knowing finances, a skilled debt manager must have a lot of additional knowledge, understand human psychology and be a good communicator. “The conflict is already inscribed in the communication about someone owing someone or failing to fulfill their promise. This is an inherently emotionally charged phase of communication, and our employees must be able to resolve the situation impartially and professionally.”
Julianus Inkasso OÜ is a debt collection company based on Estonian capital established in 1995. In more than twenty-seven years of operation, it has become a leading debt collection service provider in Estonia and the entire Baltic region. The company’s main field of activity is domestic and international extrajudicial and judicial collection of debts. Julianus Inkasso belongs to the Aktiva Finants OÜ group, which employs more than 160 people. The group includes Julianus Inkasso, Tarkpay, Taust.ee, Accountscoring, Viena Sąskaita, etc. In addition, the group has holdings in rapidly developing financial technology companies, including Altero and Avaus.