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Using Data to Humanize Collections with Eric Ferguson

Eric Ferguson has over three decades of experience in collections, specializing in technology utilization within the industry.

Blogs

Why you need a balance between technology and strong customer relationships

Striking a balance between technology and customer relationships is the key to enhancing your collections performance. By doing so, you can have the information you need to build effective collections strategies while saving time for you and your team.

Blogs

The power of customer data at each stage of collections

Customer data is king when it comes to your customer journey through collections. It helps you paint a clear picture of the past, present and future of their finances to support your strategies. And by harnessing it properly, you can shape their future to be one of financial stability.

Blogs

Why a System of Record is essential to comply with the TCPA

Regularly communicating with customers throughout their collections journey is key to guiding them back to financial good health, but must be done mindfully and without being seen as predatory.

Blogs

General Data Protection Regulation in collections – why organizations are still noncompliant

General Data Protection Regulation (GDPR) covers the key principles of customer data privacy and protections. These rules apply across industries and regions, with the unified goal of giving customers more control over their personal data in a digital world.

Blogs

The Fair Debt Collections Practices Act – communication and record storing requirements

Compliance in collections is about more than making sure you’re following the rules. It’s about protecting customers and following the right processes and procedures to help them reach financial stability.

Blogs

The dangers of legacy collections software

Deciding to transition your entire collections software is a time consuming but necessary part of modernizing your strategy. Refusing to do so means you may end up losing your customers or risk legal repercussions through breaching data regulations.

Blogs

The importance of positive customer experiences in collections

Customers entering collections are facing stressful and difficult circumstances. It’s your responsibility to support these customers to financial stability through positive engagement at each step of their journey. That way, they will be more likely to engage with you, and it will be easier for you to help them.

Blogs

The Gramm-Leach-Bliley Act: why compliance is crucial when it comes to customer data

The Gramm-Leach-Bliley Act stands at the forefront of financial regulations to protect sensitive customer data. Any breach of the regulation can lead to significant fines and permanent damage to your brand as a result.

Blogs

CFPB hire 75 more enforcement personnel: here's what it means for you

The hiring of 75 more enforcement personnel at the CFPB means the likelihood of a strict CFPB audit on your collections journey has increased dramatically, and by 50% to be exact.

Blogs

Can collections help you retain more customers?

In competitive spaces like telecommunications and banking, customer service has risen to the top of priorities. Retaining customers is no longer a test of brand loyalty. It has been softened by a rise in competition and modernized services. Customers now have greater freedom to choose a service provider based on the quality of their experience.

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