The Consumer Finance Protection Bureau is ready to implement new regulations to limit the frequency of collection calls to consumers. These proposed limitations will absolutely have negative effects on portfolio performance. A phone call attempt to contact a borrower will become a very valuable commodity. Truly understanding when the best day and time to make a collection attempt will become even more paramount to implementing a successful call strategy.
The notion that you can simply limit your call count without employing a contact strategy that is supported by analytics, modeling, artificial intelligence and state-of-the-art Omnichannel call center technology will prove to be very short sighted.
Servicing Solutions has the technology, processes and experienced leadership team in place to help you with both navigating these proposed regulations and achieving maximum performing levels on your portfolio.
Questions about how to address these pending regulations? Call us today at +1 (844) 877-6583 or send us a note at firstname.lastname@example.org.