Consumer Preference

October 26, 2023 in Compliance Tech

[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,...

September 19, 2023 by Jackie Sullivan in Collections Strategy

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...

November 17, 2022 by Erin Kerr in Collections Strategy

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...

September 22, 2022 by Erin Kerr in BNPL

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...

September 1, 2022 by Erin Kerr in Channel Optimization

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...

August 25, 2022 by Abigail Pressler in CFPB

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...

August 18, 2022 by Erin Kerr in CFPB

How to Earn and Keep Consumer Trust in Collections & Recovery

Do your customers trust you? Do you know if they do? Trust has become a big concern, not only for consumers, but also for regulators and the CFPB in particular....

August 11, 2022 by Erin Kerr in Consumer Preference

Customer Engagement Platform Twilio Bans Third-Party Debt Collection Messaging

In a recent update to their forbidden message categories, Twilio, a customer engagement platform that offers SMS / text messaging, emails, and other outreach methods, made it clear that using...

August 11, 2022 by Justin Miller in BNPL

Gen Z, Trust, and the "Frictionless" Engagement Strategy of the Future

Consumers are changing. Gen Z's share of debt is growing and their engagement preferences matter more and more. Your debt collection strategy needs to follow suit. In this ranging interview...

June 16, 2022 by Bo Backerman in Communication

A Roadmap for Digital Transformation in Credit Unions

Thanks to the pandemic, a much larger percentage of credit union members are now comfortable with - and suddetly looking for - convenient, sophisticated digital banking services. Credit unions who...