Call centers manually monitor only two percent of their calls on average, according to a new report from Genesys. And because of the massive volume of calls being handled daily, quality analysts are only capable of reviewing up to five percent of the calls in their contact center. Register Now: Genesys’s free September 4 speech […]
Our highly-regulated industry is replete with acronyms and regulations. Over the past year, many organizations have been setting up a Compliance Management System (“CMS”) to meet client requirements and to prevent costly lawsuits and fines. But are agencies focusing on the right thing? Or are they spinning their wheels and wasting money?
As collection agencies reassess third-party relationships, they must find ways to calibrate oversight to the delegated activity. Layering new requirements into contracts has proved challenging, and in many instances, the new oversight requirements have eroded the economic case for outsourcing.
Genesys will host a free webinar on Thursday, September 4 at 2 p.m. Eastern titled “Delivering Proven Speech Analytics For Collections.” Michael Miller, Vice President, Customer Strategy – Analytics at Genesys, and Chris Bohlin, Director – Proactive Customer Communications at Genesys, will discuss how to use speech analytics to drive better, more predictable agent workflows […]
Credit and its need to be collected has been part of humankind’s challenges for a very long time. Educating all players on the importance of improving the credit markets – from a creditor and consumer perspective – would go a long way toward returning to a level playing field.
Conversations with consumers can be fraught with compliance trip-wires for collectors. From remembering all the disclosures necessary — mini-Miranda, recording disclosures (if necessary) — to maintaining one’s cool in sometimes fraught conversations, there are myriad opportunities for something to go wrong. When handled unsuccessfully, they can negatively impact the bottom line, as well as increase risk […]
Should the Consumer Financial Protection Bureau issue guidance about what it considers appropriate attorney oversight when filing debt collection lawsuits? According to a recent insideARM.com home page poll, readers are split on the issue. According to the poll, 64 percent of poll participants generally believe that the CFPB should provide guidance on attorney oversight. But […]
The Higher Education Affordability Act, proposed by Sen. Tom Harkin (D-Iowa), would require the Department of Education to terminate contracts with private collection agencies if they violate the FDCPA or UDAAP.
The Louisiana Department of Revenue issued a Request for Proposals Thursday for debt collectors to work for the state’s new Office of Debt Recovery on an as-needed basis. ODR would be part of the Department of Revenue, and would be responsible for the collection of delinquent debts on behalf of state agencies.
A joint study from the think tank Urban Institute and debt buyer Encore Capital Group released today reported that more than 35 percent of U.S. adults with a credit report have accounts that qualify to be in some stage of the debt collection system. The average balance of those accounts is $5,178.