SCOTTSDALE, Ariz. – Bankrupt Debt Acquisitions, the industry leader in the identification, purchase, and management of bankrupt and deceased debt has chosen BEAM as its purchased receivables management software platform. Bankrupt Debt Acquisitions’ business model and evaluation process allow them to effectively liquidate bankrupt and deceased portfolios by identifying and monetizing otherwise uncollectible accounts. “As […]
LiveVox Inc., a leading provider of cloud contact center solutions for enterprise operations, announced that LiveVox CEO, Louis Summe, has been invited to join a panel to discuss what macro trends will alter the financial services segment at this week’s Large Market Participant Summit presented by insideARM in Washington D.C. On the session, LiveVox Chief […]
The collections industry is ever-changing. Delinquency rates remain near historic lows, despite a slight uptick in credit card and auto loan delinquency rates at the end of 2015. In this type of environment, numerous organizations are investing in diversification and competing for the same pieces of business. Collectors need accurate data to find individuals quickly […]
MUNCIE, Ind. – Ontario Systems, a leading technology and services provider to the healthcare and accounts receivable management industries, announced Product Management VP Casey Stanley will join representatives from TransUnion, LexisNexis and Cornerstone Support at the Larger Market Participant Summit in Washington DC to discuss “What’s Next From ARM Industry Critical Vendors.” The Summit is […]
Employee engagement is widely recognized as essential to high performance cultures. In fact, research from Gallup reports that companies with highly engaged workforces outperform their peers by 147% in earnings per share and enjoy 25-65% less turnover and 37% less absenteeism, among a variety of other benefits. But a recent article by Josh Bersin, drawing […]
Bulletins from the CFPB often function as rule-making, even though bulletins aren’t technically the way the CFPB conducts rule-making. Both bulletins and consent orders, though, should be viewed by all in the industry as the “writing on the wall,” so to speak. They show the agency’s current line of thinking, and give those companies in the debt industry a map of compliance.
The CFPB has been highly emphatic in requiring both the financial services and the debt collection industry to increase compliance by establishing and maintaining systems and procedures to ensure consumer data privacy in all transactions. All of which have utilized “automated” systems that have proven to be effective and efficient in the credit ecosystem. Millions have been spent by the industry to meet these demands in the past 5-7 years. The National Creditors Bar Association (NARCA) members report a 300%+ increase in compliance costs from 2011-2014.
By now you should have your compliance team in place, your policies and procedures finalized, and your complaint management system humming. But if your organization is a typical collection agency, debt buyer, or collection law firm, you know you have one final hurdle to overcome on your CFPB readiness path: Vendor and service provider management. A new whitepaper […]
I’m sure you’ve heard the expression “work smarter, not harder.” In today’s environment you need to do both to grow your business. Utilizing skip trace technology is a business-growth engine because it takes care of “easy” day-to-day activities like phone number identification and change of address, while at the same time working harder to solve […]
LiveVox Inc., a leading provider of cloud contact center solutions for enterprise operations, announced that it will join operations experts from IHMS, in partnership with the Healthcare Financial Management Association (HFMA), to provide insights into the top insurance enrollment challenges moving into 2016 and innovative approaches to adapting existing resource to optimize patient engagement and […]