Executive Change: Rahul Basu Promoted at ICICI OneSource

ICICI OneSource announced today that Rahul Basu has been named President of Account Solutions Group (ASG), its Collections company headquartered in Amherst, New York. Rahul has over 12 years of experience in Corporate Finance and Strategy and prior to taking over as President ASG, was Chief Financial Officer of ICICI OneSource, India’s leading outsourcer headquartered in Mumbai. ICICI OneSource acquired ASG in October 2004.

Outlining his plans for ASG, Rahul Basu said, "ASG’s focus would be to increase penetration in the credit card industry in the US and in the overall financial services space and to continue to grow in both India and the US. In the coming year ASG will lay emphasis on process Analytics and Six Sigma methodologies to enhance service to its clients and drive continuous performance improvement."

Rahul is also of the view that the debt collections industry in the US can gain significantly from considering off-shore locations like India and near-shore locations like Ireland for debt recovery. Rahul says, "India provides a number of opportunities in both first and third party collections. Opportunities that will arise from the decomposition of specific activities performed in collecting on a debt. For example, analytics is amenable to being moved to India. Similarly, a large part of the skip tracing process can be moved to India and be performed by non-collectors at significantly lower costs. Another example would be in legal collections, where there are a large number of relatively similar legal matters. Again, the process can be decomposed and significant components can be moved to India. However, in all of this, certain key elements of the process would continue to be in the markets, and entities that are a single organization as opposed to a partnership are more likely to produce better results."