Collections Industry Increases Hiring and Technology Investments While Preparing for the “Next Normal”

CHICAGO, Ill. --  A new report by TransUnion (NYSE: TRU) and Aite-Novarica Group found that the collections industry is boosting hiring and technology investments as it transitions into a “next normal” stage. Approximately seven in 10 collections professionals (69%) said technology solution spending will modestly or significantly increase in the next two years. About two-thirds of collections professionals (67%) said employee compensation will increase in the same time period. 

 

The report, “A Transition to the Next Normal: The Collections Industry in 2021,” provides the latest annual look at the trends, challenges and opportunities in the U.S. third-party collections industry. The report is informed by a survey of 151 third-party debt collection professionals and interviews with 12 industry thought leaders conducted in Q2 and Q3 2021.

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