Preparing for the Storm: Adopting a CFPB Rule-Change Timeline

The Consumer Financial Protection Bureau (CFPB) is currently taking public comment on its proposed rule changes that would affect the Fair Debt Collection Practices Act (FDCPA). The comment period closes on August 19, which is right around the corner, but the new rules are not likely to take effect for another 18 to 24 months. … Read more

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

Katabat 8.2 Debt Collection Software Release Enhances Client Data Exchanges

Katabat's API functionality

Katabat has rolled out Katabat 8.2, with software updates that enhance the rich data exchange between our clients and our platform. The 8.2 upgrades include: Introduction of Payment and Funding Account APIs that provide real-time payment views. Data Exchange enhancements that add configurability for additional client-defined fields to our standard import process. Ability to capture … Read more

Automating the CCMA Process in Ireland Benefits Lenders and Borrowers

mortgage arrears

In mortgage markets, good news and bad news often go hand in hand. Big challenges for lenders are often accompanied by large opportunities. This good news/bad news dichotomy is easy to spot in the Irish mortgage market because of its small size and exposure to both UK and EU financial trends. In the middle of … Read more

Automating Your Debt Collection Agency Management Can Eliminate Major Headaches

agency management

Many lenders and other organizations with substantive delinquency and recovery portfolios have chosen to outsource their debt collections efforts to third-party debt collection agencies (DCAs).  These relationships are normally managed manually, often from an Excel spreadsheet. Not surprisingly, this approach can be a nightmare in cases where the client uses dozens of debt collection agencies … 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

4 RMA Conference takeaways from Toronto

conference takeaways

I just returned from the 2018 Receivables Management Conference in Toronto.  Overall, it was a great conference — small and intimate, which drives good interactions and dialogue about client pain points and business needs now and in the future.  We met a lot of new prospective customers and also got to talk to existing clients … Read more

Katabat Launches Machine Learning-Powered Debt Collections Software

play-based-learning

Katabat Launches Machine Learning-Powered Debt Collections Software WILMINGTON, DE, Oct. 25, 2018 – Global software provider Katabat has released Katabat Engage, which delivers data-driven debt collections powered by machine learning to consumer lenders. Katabat Engage helps lenders collect more dollars through a platform of personalized, digital communications tailored to customer preferences.  Powered by a proprietary … Read more