Why Personalization Matters in Debt Collection
Imagine if there were a streaming service that only had one show to watch? Some customers may be happy, but it wouldn’t appeal to most due to not addressing consumer...
Consumer Preference
Customer Engagement Across the Account Lifecycle Starts with Origination
Digital adoption is fundamentally reshaping financial services, redefining how consumers interact with lenders and servicers at every stage of the account lifecycle. As a result, customer expectations are no longer...
Crypto taxes take center stage
On July 16, the House Ways and Means Oversight Subcommittee held a hearing titled Making America the Crypto Capital of the World: Ensuring Digital Asset Policy Built for the 21st...
CFPB Says Earned Wage Access Products Are Subject to the Truth in Lending Act
Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed interpretive rule opining that earned wage access (EWA) products — whether provided through employer partnerships or marketed directly...
[Video] Three Keys to Building a Collections Technology Roadmap
Texting is the most effective way to reach delinquent consumers, but, like all communication methods used in debt collection, it’s not easy to comply with regulations. What does Jesse Bird,...
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...
What Customer Experience Do Your Customers Really Want?
It’s at least 5x more expensive to create a new customer than it is to retain an existing one. That's why maintaining excellent customer service throughout an account’s lifecycle, even...
What the CFPB's New Buy Now, Pay Later Report Means for Your Strategy
Does the use of Buy Now, Pay Later (BNPL) increase consumer debt and encourage overextension? The CFPB thinks so. A new report from the CFPB on BNPL, markets, and consumers...
How to Optimize Your Outbound Channel Strategy
Financial services companies are adding new communications channels and making significant progress towards a true omnichannel collections strategy for debt collection, but when it comes to consumer communication, does that...
Text Messages From Debt Collectors? Not in My Backyard!
When it comes to planning an omnichannel debt collection strategy, communications channels like SMS and email make a lot of sense. In many cases, consumers prefer these channels over more...