McKinsey & Company Points the Way to Collections Digital Transformation

While I was writing about the CFPB Annual Report and Mike D’Andrade was writing about the CBALive and LendIt Fintech conferences, we were channeling the partners at McKinsey & Company, or maybe they were channeling us. Either way, all of us seem to agree on three things: An economic downturn is on the horizon. Consumers … Read more

Avoiding Machine-Learning Bias in Digital Collections Communications

machine learning bias

If you own an auto dealership, you’ll likely offer a college student the used but affordable compact sedan. You’ll offer the 30- and 40-somethings with growing families the SUV or minivan. And you might offer the early retiree his or her dream car, be that a sports car, motorcycle, or RV. As human beings, we use … Read more

Is Your Debt Collections Shop Ready for a Recession?

risk debt collections

Debt collections managers – whether working for a fintech or alternative lender, a collection agency, or in healthcare or utilities collections and recoveries — can anticipate a surge in inventory in the event of a recession. Based on the response we received from Mike D’Andrade’s late September post on getting ready for the next recession, … Read more

5 Ways Lenders Can Be Ready When(ever) the Next Recession Hits

A recession is coming next year. A recession is coming this fall. Nobody knows exactly when a recession will happen, but most economists agree that one is likely on the horizon. Public- and private-sector debt levels are high, many experts believe that assets are currently overvalued, and wage pressure is expected to continue to rise. … Read more