Best Practices

Debt Collection Best Practices

This is a collection of articles related to the topic of debt collection best practices. These articles explain how using various state-of-the-art tools and techniques including omni-channel, machine learning, etc. can improved your collection efforts.

Our well-researched content is written by senior members of our leadership team. They are all seasoned veterans of the debt collection industry, both first and third party.

Amongst the topics covered here are:

  • Omni-channel best practices for effective use of a combination of Email, SMS, Voice and mail to enhance your collections efforts
  • Design and development and deliverability considerations
  • Digital collections best practices
  • Platform deployment planning best practices
  • Machine-Learning for accounts receivable management
  • How to protect your data and your customers

We publish new valuable content roughly once a week. That means no endless self-serving advertorials here. Just valuable information to help you craft your strategy.

Other topics of interest

In addition, we also publish a series of white-papers on Omni-channel debt collection and Deployment strategy. Furthermore, we’ve created some very detailed and in-depth Customer success stories. Each story shows you a roadmap of how our clients achieve big results.

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Featured News Story

Creating Text Messages that Pay

I’m old enough to remember how surprised I was when I first started seeing articles about people using their cell...

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What’s Your Number?—All About Net Promoter Scores (NPS)

Everyone has probably heard of a Net Promoter Score (NPS), the popular measure of customer loyalty. But many people who...

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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...

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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...

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With Auto Loan Collections, the Motor is Running

In the past five years, the percentage of auto loans with 90-day-plus delinquent balances – a situation that typically results...

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Automating the CCMA Process in Ireland Benefits Lenders and Borrowers

In mortgage markets, good news and bad news often go hand in hand. Big challenges for lenders are often accompanied...

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Automating Your Debt Collection Agency Management Can Eliminate Major Headaches

Many lenders and other organizations with substantive delinquency and recovery portfolios have chosen to outsource their debt collections efforts to...

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Automated Software Testing Drives Faster Deployment, Efficient Upgrades

Imagine being a manual software tester. Every day you have dozens of test cases to run, assess, and report what...

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Is Your Debt Collections Shop Ready for a Recession?

Debt collections managers – whether working for a fintech or alternative lender, a collection agency, or in healthcare or utilities...

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Shift Your Focus to Succeed in Digital Onboarding

Cross-selling and upselling are important ways to build relationships with customers, but it needs to be individualized and done at...

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Marketing Automation Puts Customers in the Driver’s Seat

As 2018 approached, I heard speculation that 2018 would be the year of data. No, the year of data protection....

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5 Steps to Agile Deployment and 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...

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4 Ways to Get Everyone to Adopt Your Enterprise Software Investment

In a 2018 study of the sales operations at more than 300 companies, the CSO Insights research division of Miller...

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Helping Our Most Vulnerable Customers

What is vulnerability exactly, and why does it matter to lenders? The Financial Conduct Authority (FCA), conduct regulator for more...

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But I Wanted to Chat—Customers in Control of Their Omni-Channel Journey

I recently placed an online order with a major retailer and received the wrong items. I immediately went online to...

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Agile Methodology: Delivering Process-Driven Speed

One of our brand pillars at Katabat is Process-Driven Speed. Ok—speed sounds good, especially to our clients. But what does...

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How to Increase Your ROI With Multichannel Campaign Management

In an increasingly mobile world, customers are more connected than ever. Nearly all consumers are highly digitally active across several...

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Customer Complaints—A Pain Point? Or an Opportunity for Improvement?

When your business receives a customer complaint, it is natural to feel defensive. However, keep in mind that most complaints...

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Australian Lenders Facing Changes with Comprehensive Credit Reporting

This is the third of a three-part series on Comprehensive Credit Reporting in Australia. Be sure to also read Part...

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Time to Get the Message With Two-Way SMS

There’s a reason why Nordstrom has an excellent reputation for customer experience. The retailer has been listening to what customers...

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How Banks Can Embrace the Growing Gig Economy—and Thrive in It

The term “gig economy” originated in early 2009 at the height of the financial crisis. It referred to people who...

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Path to Success: The Banking Technology Modern Banks Need is Data Driven and Customer Centric

Data is the one thing that modern banks need to succeed. That’s what Matt McAllister, CEO of Fluid PR, Inc.,...

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On a Positive Note: Consumer Benefits of Comprehensive Credit Reporting (CCR) in Australia

This is the second of a three-part series on Comprehensive Credit Reporting in Australia. Be sure to read Part 1 and...

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Cowboy Up: How to Capture the Right Multichannel Campaign Management System

In the Old West, a cowboy depended on his horse to help control huge herds of cattle that wanted to...

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6 Marketing Automation Campaigns Banks Should Run to Drive Customer Retention

There are so many statistics floating around out there telling us that current customers are worth more and cost less...

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The History of Comprehensive Credit Reporting in Australia

This is the first of a three-part series on comprehensive credit reporting in Australia. Be sure to also read Part 2....

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Digital Onboarding Hurdles and How to Destroy Them

Digital services have totally transformed banking. Customer experience management today means less free pens and lollipops, and more apps. The...

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Get Real… Customer Engagement with Two-Way SMS

A few days ago, the retail world was abuzz with news that Lowe’s has entered into an agreement with Apple....

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Hone Your Hardship Strategies

Section 72 of Australia’s National Credit Code requires lenders to provide swift but careful consideration to customers who make a...

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Personalize Communication to Drive Loyalty (Or, Why You Need to Know Who You’re Talking To)

Since I last wrote about Accenture’s report, titled “Financial Providers: Transforming Distribution Models for the Evolving Consumer,” I’ve been thinking...

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Focus on the Consumer with Two-Way SMS

A few months ago I was in a fender bender, and the interesting thing is that I was an Uber...

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When “Good Enough To Get By…” No Longer Is

How many collections executives have been frustrated in the past by their top management’s assessment that a further investment in...

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Toward a Customer Experience Management “Ecosystem”

More and more companies today are touting “superior customer experience management” capabilities. Some are talking about new contact center software,...

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The (High) Total Cost of Inflexibility

Many systems installed in today’s banks have the inherent advantage of being “sunk costs”, in that users and management alike...

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If You’re Not Going To Do It Well, It’s Better Not To Do Digital Collections At All

I’m pondering a dilemma: one bank posts a 1300% increase in their digital collections performance over a three month period...

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Katabat (formerly CMC) Announces Third Annual European Industry Advisory Group Meeting to Discuss Best Practices for Consumer Debt Management

July 30 2013 – Katabat today announced that the annual meeting of its European Industry Advisory Group (IAG) will take...

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