The Industry’s Digital Delay May Be An Advantage – But You Must Answer These 3 Questions

This article is part of the iA Think Differently series. Written by members of the iA Innovation Council, the series showcases thought leadership in analytics, communications, payments, and compliance technology for the accounts receivable management industry.


It is undeniable that the world has changed in the last 40 years. That is, with the exception of the Fair Debt Collection Practices Act (FDCPA). Enacted in 1978 -- and not updated since -- the law mentions telegrams and came about decades before mobile phones, email, or the Internet. As a result, just like the law, much of the collection industry also remains stuck in the last century. It is time to catch up. Consumers are no longer reachable by snail mail or landlines. We all know this but what can we do about it?

The consumer you are trying to reach has gone digital, and the industry needs to follow. While there is still hope that a final rule from the Consumer Financial Protection Bureau (CFPB) will allow for text messages and email to consumers, this is just one piece of a digital strategy. There are many other things to do that do not put you at risk if you start thinking about a holistic digital strategy now. 

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