A Collections Blueprint for Fintechs
There’s no way around it: the core focus for fintech lenders is acquiring new customers. Necessarily, then, the focus cannot be on collections. However, the experts at 2nd Order Solutions...
Collections Strategy
Customer-Focused Collection Strategies
When creditors and lenders take on the task of managing the collections process themselves, they must take a strategic approach to this task. An important part of any collection strategy...
Manage Increasing Delinquencies with Omnichannel Communication
It’s no secret that the amount of consumer debt continues to rise. Quite often, this leads to an increase in delinquencies and unpaid accounts. That means an increase in the...
Top Hardship Policy Options for Customers in Financial Distress
As student loan forgiveness programs shift, the debt collections industry anticipates a surge in financially distressed consumers. This blog explores adaptable hardship policy options. As student loan forgiveness programs phase...
Why Q4 is the Time to Evaluate Your Collection Partners
It’s hard to believe that the year is already winding down, but consumer debt certainly isn’t. And not having the right collection partner today can equate to missed recovery opportunities...
5 Ways to Build Customer-Centric Digital Collections
Understand the five most critical elements of building customer-centric digital engagement in debt collections using existing data and insights. 5 Ways to Build Customer-Centric Digital Debt Collections 1. Gain deep...
4 Ways to Sharpen Your Outbound Calling Strategy
Economic conditions over the last three years have encouraged collections departments to focus on technology more than ever before. For many, this means integrating new technology and building strategies around...
Pressing Play on Student Loan Payments: How Collections & Recovery Departments Must Prepare
Will the end of the pause on Federal student loan repayments cause economic turmoil? We’re about to find out. Many pandemic-era relief programs are ending this month, including the pause...
Four Ways to Refresh Your Recovery Strategy
Banks and lenders have under-invested in their recovery strategies in the past few years, but losses increasing to pre-pandemic levels should serve as a wake up call: it’s time to...
Deciding When to Sue Charged-off Accounts Receivable
The field of debt recovery is full of multifaceted, complex decisions to consider. One of the most pivotal is determining if and when to sue on an account. Each past-due...