A changing regulatory landscape characterized by increasing restrictions on outbound calls (think the CFPB’s Regulation F), combined with shifting consumer preferences, is forcing a reassessment of collections firms’ contact strategies and driving a rise in omnichannel communications.
Collections efforts will continue to entail outbound dials though in decreasing volumes and with tighter controls. This will drive collection professionals to realize more outbound emails and texts. Subsequently, it’s safe to expect a corresponding increase in inbound calls. As a result, effectively capitalizing upon inbound calls from debtors is becoming more critical for collections firms. Companies that prioritize routing inbound calls quickly and dealing with consumers more efficiently will benefit from faster collection resolution.
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