Collections agencies must work closely with their customers to resolve the delinquency issues they are experiencing, but to do that, they have to make successful contact, which can be challenging. Historically the collections industry made as many attempts as possible with every channel that they had available to reach those customers. But, the regulatory environment is changing dramatically. The CFPB released Regulation F, which now limits the number of outbound voice dial attempts that collectors are able to make to seven within a rolling seven-day period.
As part of our Meet the Expert series, we interviewed Todd Meeks, Director of Product Management, about how Neustar Phone Behavior Intelligence (PBI) helps increase right-party-contact rates through authoritative contact identity and behavioral insights by ensuring records are accurate and providing the best phone number and time to reach customers.
Watch the video to learn:
- Collections firms can realize a 20 – 25% increase in right-party contact rates with PBI – and one recent client achieved a 40% increase!
- PBI integrates Neustar data and insights directly into collections agencies’ dialing platforms to automate the process, with little IT support required.