The State of Debt Collection 2020: Industry Statistics, Trends, Collection Practices, and More

The debt collection industry has earned its share of ire over the years, but it’s an industry that continues to grow across multiple verticals including auto finance, healthcare, mortgage lending, and many others. As more than one in four Americans (28 percent) have at least one debt in collections, the need for debt collection services, […]

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The 50 Best Debt Collection Blogs

Debt collection is not easy. Agents encounter tricky situations on a daily basis where they must try and bring the call to a successful conclusion and simultaneously behave in a fully compliant manner. Companies need to keep on top of the latest trends in debt collection and provide their agents with the tools they need […]

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What is the FDCPA Fair Debt Collection Practices Act? Definition, Tips, Best Practices, and Compliance Challenges of the FDCPA

Definition of the Fair Debt Collection Practices Act The Fair Debt Collection Practice Act (FDCPA) is a federal law approved in 1977 that legally protects debtors from abusive, threatening, and unfair debt collections performed by third-party debt collectors. The act applies to what would be considered consumer debts – those debts accrued for personal, family, […]

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ACI Partners with CallMiner to Deploy Speech Analytics Company wide

This post originally appeared here: http://www.americancoradiusinternational.com/2017/03/aci-partners-callminer-deploy-speech-analytics-companywide/ American Coradius International LLC (www.acillc.us), a leader in 1st and 3rd party debt collection services, has partnered with Massachusetts-based CallMiner to launch CallMiner Eureka Speech Analytics companywide. CallMiner will be deployed across nearly 200 seats, 2 delivery centers and over 20 client relationships. This partnership will allow ACI to leverage […]

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What is the CFPB Consumer Financial Protection Bureau? Definition, Tips, Best Practices, and Compliance Challenges of the CFPB

Consumer Financial Protection Bureau Definition The Consumer Financial Protection Bureau (CFPB) is an agency of the United States government set up after the financial crisis of 2008 in order to protect the rights of consumers in the financial services industry. The CFPB has jurisdiction over areas including banks, credit unions, securities firms, debt collectors, foreclosure […]

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What is Mini-Miranda?

Definition of Mini-Miranda Mini-Miranda is a legal warning debt collectors are required to use at the beginning of communications with consumers, both written and oral. It’s a requirement set forth by the Fair Debt Collection Practices Act (FDCPA) and is aimed at preventing debt collectors from contacting consumers under false pretenses, instead clearly identifying the […]

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How Successful People Stay Productive and In Control

Hi EO Members, Please visit link below for the  blog :-   https://www.linkedin.com/pulse/20141110142734-50578967-how-successful-people-stay-productive   Regards, Pulkit Jain   encore

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4 Suggestions to Help Prepare for the Millennial Tsunami

Here come the Millennials, also known as Next Gen and the Baby-On-board Generation. Regardless what call you them they are nearly 98 million young adults born between 1980 and 2000 and by 2020 they will represent nearly 50% of the workforce. Millennials are quite different then any generation before them. They view the world differently […]

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5 Tips for Boosting Employee Engagement During the Holiday Period!

The holiday season can be really stressful and that only increases the challenge of keeping your employees engaged at work, here are a few reasons why employees may be stressed: 1. Companies push their employees harder to meet year-end goals, yet often fail to give them adequate recognition. 2. Kids are out of school, making […]

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“The only way to do great work is to love what you do.” Steve Jobs

FidoTrack’s first blog in Engagement Optimization revolves around a simple employee emotion but one that is incredibly absent in today’s workplace; happiness. One can argue about the reasons why it is important or why it is missing, however what is ultimately an undisputable net result of employee unhappiness is disengaged employees. So why should managers […]

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5 Reasons Speech Analytics Is Critical in Call Center Collections

  Collections contact centers and accounts receivable management (ARM) firms face a constant challenge: balancing the need to maximize payments while maintaining quality service and strict compliance. Add to that complexity an increasingly strict regulatory environment and you’re left with collections firms under pressure to make sweeping and costly changes in order to remain competitive […]

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Exploring gamification for health care payment collections

The Takeaway: Gamified payment collection would be a great fit for many health care providers.   Gamification has become a popular topic as it relates to customer engagement. We’ve previously covered how gamification has begun to play a key role in contact center operations, but that only scratches the surface of its potential value. In […]

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How Collection Analytics Drives Improved Call Center Performance

When it comes to collections, contact centers are on the hook for not only providing quality customer service under difficult circumstances (past due accounts, angry customers, etc.) but also for mitigating compliance risk in doing so.  In fact, collections contact centers and Accounts Receivables Management (ARM) firms face the constant challenge of being able to […]

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How Speech Analytics Can Reduce Costs & Improve Contact Center Efficiency (Case Study Examples)

Fact: Contact centers are set up to handle all customer communications (inquiries, complaints, etc.) and have a direct influence on the customer experience. Fact: Contact centers can also be huge cost centers. “It’s unfortunate, but [many companies view] contact centers as the redheaded child,” says Ross Haskell, senior director of products at LogMeIn’s BoldChat Products, […]

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Compliance Analytics: Effectively Gathering and Making Use of Compliance Related Data

What kind of story is your data saying about your organization? Ask yourself the following questions: How are you currently measuring and reporting on complaint data? Do you have the ability to demonstrate trends by month, quarter, response time, or complaint category? What is your monthly failure rating for collector calls? How are you effectively […]

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Speech Analytics for Collections: Why Is It Important?

According to WebRecon statistics, 3,336 consumers filed Consumer Financial Protection Bureau (CFPB) complaints against debt collectors in June 2014. An additional 1,081 consumers filed lawsuits under consumer statutes, including 806 Fair Debt Collection Practices Act (FDCPA) lawsuits, 207 Telephone Consumer Protection Act (TCPA) lawsuits, and 169 Fair Credit Reporting Act (FCRA) lawsuits. These statistics reinforce one […]

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Prepare Your Collections Call Center for CFPB Audits with Speech Analytics

In a time when lawsuits, complaints, and CFPB audits are increasing, collections contact centers need to take steps to improve their processes and prove their compliance. Collections contact centers and Accounts Receivables Management (ARM) firms have to maximize payments while still staying compliant and up to date with new rules and regulations, which often proves […]

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