All posts tagged collection

Should we require a license to borrow?

by Brian Moore on May 2, 2011 in Banks/Finance, Brian Moore with No comments
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I just attended the FTC’s Debt Collection Technology 2.0 conference in Washington DC, and came away with some new perspectives on our industry, the role of government and the attitude of consumers.

While the credit industry and the technology vendors that serve it were well represented in the series of panel discussions on such topics as “Dialing, Talking & Texting in an Age of Enhanced Mobility” and “Using Social Media for Debt Collection”, so were the advocates of consumer protection. I thought the FTC staff did a mostly excellent job of Continue reading →

Collection firm practices zero-tolerance to ensure contact center satisfaction

by Varolii on December 22, 2010 in Airlines, Banks/Finance, Call Centers, Consumer Svcs, Healthcare, Industry News, Mobile/Telcom, Retail, Utilities with No comments

Despite a recent flurry of negative press, many debt collection agencies are continuing to practice superior customer communications strategies and ranking high in satisfaction. Continue reading →

Collections agencies turn to SMS messaging for proactive customer communications

by Varolii on December 20, 2010 in Airlines, Banks/Finance, Consumer Svcs, Industry News, Mobile/Telcom, Retail, Utilities with No comments

These days, it is more common to contact consumers through their mobile phones than via a landline. As a result, companies, especially collection agencies, are moving to adopt mobile customer communications strategies.

In a recent article for insideARM, Matt Edmunds writes that collection companies must evolve their contact strategies to take full advantage of this market and drive the effectiveness of collections. One surefire way to do this: SMS messaging services.

Additionally, collections firms are not just engaging in outbound communications. Many are experimenting with inbound SMS messaging as well, according to Edmunds. With this feature, consumers are able to contact a company and ask questions through SMS messages.

"By obliging the customer's desire to interact via the channel of his/her choice, you vastly improve your chances of securing payment in the most effective and efficient manner available," explains Edmunds.

The website PitchEngine adds that SMS messaging has grown increasingly popular for its relative ease of use by both consumers and companies, generally only requiring three quick steps to sign up a user as a subscriber.