Justin Franklin, Vice President of Global Strategy and Execution at Cedar Financial recently sat down for an interview with PDCflow’s Dawn Updike. They discussed how digital operations impact team structures and revenue, measuring ROI and more.Like other Accounts Receivable professionals, Franklin found his career by accident when he accepted a collection job after college in 2005. He has a wide …
4 Key Metrics for Measuring Digital Campaigns in Accounts Receivable
Every debt collector knows the struggle of getting consumers to answer their phones. Digital campaigns can better engage people who want to pay without requiring them to answer a call. But you need to collect certain key metrics to know these new tactics are working. Collecting and analyzing your data will help you understand how your business is performing and …
How to Create and Measure an Omnichannel Strategy in Debt Collection
Creating a digital omnichannel strategy for debt collection is essential for the future. Technology is readily available and there are compliant ways to use it to better connect with consumers. How do you know what you’re planning (or what you’ve already set up) is working as well as it could? Three digital collections experts, Pran Navanandan, Halsted Financial Services, Dianne …
Don’t Wait! Adopt Text and Email Communications, Grow Agency Market Share
Do you pick up the phone when a stranger calls? Most of your consumers don’t. So why keep trying something that doesn’t work? Three digital technology advocates and ARM industry professionals spoke with AccountsRecovery.net to share why text and email are now more than necessary. Megan Bryant, Credit Collection Partners, Wade Isbell, Professional Credit Services, and Chris Repholz, The CCS …
Experts Answer 7 Questions: How Digital Strategists Fit in Debt Collection
Digital channels for communication are common, cost effective, expected – and perhaps most importantly – wanted by consumers. But for years, debt collection has been trapped between trying to propel their agencies forward with new technologies and being held back due to compliance fears. Now, with permission given through Regulation F, those who haven’t dipped their toes into digital strategy …
Digital Engagement Technology in Debt Collection: Consent, Compliance and Risk
Spam calls and change in communication preferences from younger generations is making it harder than ever for debt collectors to get consumers on the phone. That’s why digital engagement through email, text and electronic methods of payment are now becoming mainstream in accounts receivable. Mike Frost, partner at Malone, Frost, Martin PLLC., has been watching the compliance landscape since Regulation …
Compliance Risk Assessment and Preparing for Digital Communication in AR
The long-awaited Regulation F recently outlined how the CFPB expects debt collection agencies to operate. The Bureau’s intentions with the regulation are to standardize debt collection, protect consumers and create a better customer experience. Now that Regulation F has finally been implemented, industry experts like Mike Frost, partner at Malone, Frost, Martin PLLC, are monitoring its impact and encouraging agencies …
Top Digital Communication Tools and Leading Channels for Taking Payments
Accounts receivable experts are still navigating the best ways to implement digital communication tools and optimize digital strategies. Agency owners want to use email, text, web chats, payment portals and other current technology. But many people don’t know which channels are the best for them and their consumers. As webinar panelists, Jill Kennady, Resurgent Capital Services, Jordan McWilliams, Contract Callers, …
Can’t Miss Expert Takeaways to Create a Digital Communication Strategy
Regulation F, consumer preferences and better software options all point toward the same conclusion – having a digital communication strategy in debt collection should be the norm. However, change is hard. Many agencies are still hesitant to commit to digital strategies. In a recent Accountsrecovery.net webinar, experts Jill Kennady, Resurgent Capital Services, Jordan McWilliams, Contract Callers, Inc., and Cody Owens, …
Thriving in Third Party Collection: An Interview With Bethany Robertson
Like many people in accounts receivable, Bethany Robertson found her career path by accident – working part time for an agency during college. Now, Vice President, co-owner, and founder of Debt Recovery Solutions of Ohio, Inc, she runs a thriving collection agency of her own. As a long time customer of PDCflow, we wanted to highlight Robertson’s accomplishments, as well …
Breaking Down Regulation F’s Debt Validation Notice
Legal professionals for the ARM industry, like Leslie Bender and Joann Needleman of Clark Hill Law, have been addressing Regulation F implementation challenges since the rule was proposed. Since then, they have continued to be a guiding voice for debt collectors throughout the debt collection rulemaking process. Recently, they sat down with PDCflow’s Sales & Marketing Manager Dawn Updike to …
Compliance Roadmap: FDCPA Laws & Regulation F
The implementation date for the CFPB’s Regulation F was November 30, 2021. By now, debt collection agencies should be fully compliant with this long-awaited rule. Despite this, many agencies are still struggling to modernize out of fear of being non-compliant. To help agencies prepare for these compliance challenges, PDCflow and financial services attorneys Joann Needleman and Leslie Bender, presented a …
