CFPB Submits Annual Report: Confirms Our Views on Debt Collection Industry and the Role of Omnichannel Capabilities

debt collection trends

The Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) have released their joint annual report on the Fair Debt Collection Practices Act (FDCPA). It’s something that debt collection industry stakeholders generally monitor for insight into industry trends. This year’s report confirms the clear trend of rising delinquencies. While still at historically low … Read more

Effective File Monitoring: Undervalued Yet Critical

When choosing enterprise collections software (or any enterprise software for that matter), a live demo can help you make a thorough assessment before you purchase. It’s a good way to answer the many questions you likely have about features and ease of use. Other key factors like system security can be independently certified. However, back-office … Read more

Get it Right the First Time to Avoid Technical Debt

do it right the first time

Hiring a software developer with the expertise to add bells, whistles and work-arounds to legacy systems is great.  Until your legacy system becomes too complicated to easily navigate. Or you experience frequent bugs, errors or worse – data breaches. Some may say it’s a choice between speed and quality, particularly when there’s pressure to deliver … Read more

29 Information Security Questions for Prospective Technology Vendors

vulnerabilities

Strong data security practices are essential to financial institutions’ business operations and reputations. Cybercrime is growing rapidly, averaging a reported cost to financial services companies globally of $18.3 million per firm in 2017, with information theft as the most expensive consequence., according to an Accenture and Ponemon Institute report Organizations worldwide are dedicating more and more … Read more

Automated Software Testing Drives Faster Deployment, Efficient Upgrades

automated testing

Imagine being a manual software tester. Every day you have dozens of test cases to run, assess, and report what went wrong. The same bugs. The same test cases. Six to eight hours a day.  It can get pretty tedious. That’s why Katabat has automated the testing of the core features of our debt collections … Read more

11 Questions You Should Be Asking Customers Who Are Victims of Fraud

fraud case

If you attended the Money 2020 conference in Las Vegas this past October, you couldn’t take 10 steps in any direction without running into a vendor pushing their fraud solution…and for good reason: The numbers are staggering: Balances from synthetic fraud – where fraudsters create fictitious identities with the intent to open fraudulent accounts — … 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 Steps to Agile Deployment and Process-Driven Speed

process driven speed

We’ve written before about Katabat’s commitment to agile methodology and process-driven speed. Our way of operating enables us to deliver the best possible results to our clients. What does agile deployment really look like? How do we approach projects that need to be up and running quickly? What steps do we take to ensure our … 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