Receivables Advisor November/December 2019 by Receivables Advisor

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LEARN HOW TO ADAPT TO THE TECHNOLOGY CHANGES FOR 2020 p10 November/December 2019 Vol. 19, No. 6

FTC’S ADVICE ON DATA SECURITY p18 WHERE TO OBTAIN CONSUMER LICENSE PLATE INFO p16 PCI COMPLIANCE, SOC, AND HITRUST p12 PREPARE TO THE GREATEST TECHNOLOGICAL SHIFT IN COLLECTION HISTORY p2

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Compliance Advisor I Debra Ciskey

PCI Compliance, SOC, and HITRUST

Executive Vice President Collections Coach, LLC

ith the June, 2019, disclosure of a data examinations of proprietary payment applications developed breach at AMCA looming large in the rearinternally by a company for its own use. PCI Compliance view mirror, debt collectors both large and services, including assessments for level 1 and level 2 service small are scrambling to verify the security of their consumer providers or merchants, provide strategies for ongoing portals and their consumer information in general. With compliance management. Gap analysis and self-assessment numerous vendors and auditors serving the industry in this questionnaire support is also available. key area of compliance, it is helpful to understand who’s For the assurance of clients, many of whom have who and what they can offer industry members. This article become focused recently on quality assurance, Drummond is the first of a series profiling data security firms serving the Group provides audits and SOC attestations for SOC 1, collection industry. SOC 2, SOC 3, SOC for Cybersecurity, and, once released, A newer player in the debt SOC for Supply Chains. In the collection sector despite loads of collections space, SOC 2 exams meet experience in other business sectors, is most client requirements regarding Debt collectors both large the Drummond Group. As a first-time principal service level commitments participant in the recent ACA Annual and system requirements. and small are scrambling Convention and EXPO in San Diego, company representative Pierre Jamet HITRUST to verify the security of their told me that the Drummond Group’s Another differentiator in the booth was abuzz with industry marketplace is the company’s consumer portals and their members seeking information about HITRUST Assessment Services. They data security audits, PCI compliance, have twice as many assessors on staff consumer information SOC, and HITRUST. than many other providers, ensuring I asked Jamet what sets the timely completion of projects. In in general. Drummond Group apart from other fact, their approach to audits allows vendors and consultants offering clients to complete multiple similar services. He described their certifications with only one assessment “security first” approach, which for clients means more than engagement because the company gathers evidence once, merely checking the “compliant” box on a data security broadly, so it is available for multiple uses. This approach also questionnaire. It ensures achieving best practices for security restrains costs considerably. Additionally, Drummond Group at the same time as reaching a compliant status. Being secure employs only U.S. based, full time and certified provides a higher level of safety than merely team members. being compliant. Knowing to whom to turn for client-required data security certifications can be a strain on debt collectors No Jerks of any size. With huge concerns about data security, Jamet explained that automated audits provide peace of clients may consider this branch of compliance even more mind that audits are occurring on a timely basis with important that the consumer protection compliance issues little impact on the workload of IT staff. Such audits help we face under the CFPB and the pending Regulation F. agencies maintain compliance with client requirements for In my next several articles I will profile other data security regular and timely audits. The Drummond Group regularly assessment and certification providers to make this process performs PCI DSS and PA-DSS audits and any other easier for readers. body of work required, including on site audits, quarterly vulnerability scans and gap assessments. Applying the Hear more from Debra Ciskey at company’s “No Jerks” policy, which says that the company will be there for its customers, and won’t make their customers feel stupid, Jamet taught me that PA-DSS are

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Skip Tracing Advisor I Ron Brown

Where to Obtain Consumer License Plate Info

Member National Association of Fraud Investigators Author “MANHUNT: The Book” Contact rbrown2150@aol.com

n the last issue we looked at a new form of cybertracking, As we now know the cons and decide to use LPR to locate license plate recognition or LPR, its origins and industry non-performing consumers, where do the tracers go to access usage. While this new and innovative technology is a this cyber technology, how can the data be utilized and what great aid to the skip trace and asset recovery industry, it raises are the costs become the question? numerous issues related to invasion of privacy. In this issue we will look at the pros and cons of LPR technology usage Where Is This Information? including the pressing issue of privacy. The private companies who own the two major databases are Private sector mobile LPR applications have been utilized MVTRAC (mvtrac.com) and DRN (drndata.com). Both were for surveillance, vehicle location and recovery, asset discovery started by people in the credit, collection and repossession and numerous other uses in the industry who understand the value of collection and repossession industry. this type of data. These two companies However, the application of LPR by claim to have amassed databases of over private companies to collect information a billion records and they include not There’s no opting out of this from privately owned vehicles or just the license plate, but other data a collected from private property (for tracer can use such as the time, the date tracking; anyone who drives example, driveways and business parking and the location that plate was collected. areas) has become an issue of sensitivity The claim includes that LPR cameras a car with a license plate and public debate as the usage continues can capture up to 1600 license plates in most states. per hour, creating a digital snapshot of will eventually be entered One of the major concerns tracers the consumer’s lifestyle – where they go, who use this technology should be who they see and when they see them. into these private databases. that the cameras capture images of all The location where the consumer cars scanned, not just those of nonis located may be their employer, performing consumers. The information residence, relatives or any place they obtained from these scans is often frequent on a regular basis at any used for more than just the credit, collection and repossession recurring time. The possibilities are limitless for the tracer. If industry skip tracing. The location data which is gathered by the credit-reporting agencies, who already hold the consumer’s the repossession and towing companies’ camera cars and other entire financial history, purchase LPR Data and combine vehicles with LPR cameras is fed into private databases and location and travel information with financial information they then sold without the knowledge or consent of the owner or will have an enormous amount of data on consumers, their driver of the vehicle. There’s no opting out of this tracking; individual habits and traffic patterns. anyone who drives a car with a license plate will eventually be entered into these private databases. Closing Window of Opportunity Tracers, this is now an open window but it may close at any Who Wants This Information? time. In California, two bills that would have restricted the There are many private sector companies which are in the sharing and selling of license plate data were defeated in the market for this valuable location information including insurance past two years, I am sure the issues, is not forgotten. companies, lending institutions, retailers and city, county, state LPR, another tool in the professional tracers’ tool bag. and federal law enforcement agencies. There are no laws limiting Good luck and good hunting. who may purchase and access the billions of records gathered and stored in the LPR databases. The legions of “privacy advocates” and the general populace seem to have no expectation of privacy Hear more from Ron Brown at in public. But in the industry there is much warranted concern that LPR technology is outpacing the laws.

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Legal Collection Advisor I Michael L. Starzec

FTC’s Advice on Data Security

n May 2019, the song “Every Breath You Take” by the Police was recognized by BMI to be the most played song in radio history, played 15 million times. Although some have thought it a romantic ballad, Sting himself felt the song was “sinister” so much so that in 1988 a sociologist found it “nicely captures elements of the new surveillance.” He was referring to ankle monitors. Now, that’s not even a blip on the technology radar. While 15 million plays is very impressive, it’s nothing compared to the number of people exposed to the even more sinister type of surveillance – that of cyber-thieves. For example, in 2014, 3 billion Yahoo users, 500 million Marriot customers and 412 million users of Adult Friend Finder, all had personal data stolen. (Though for “Friend Finder” there was likely more blackmail than identity theft.) For us, the risks are significantly higher as a single data breach can ruin your firm. But there are best practices. In 2015, as a result of over 50 legal actions against companies involved in data breaches, the FTC published some lessons we can learn:

Be a Minimalist

The FTC has a simple formula: Don’t collect information you do not need and if you do need it, hold it only as long as there is a legitimate need. For example, one retailer collected payment data at the point of sale. However, once the sale was consummated and transaction complete, it continued to retain it for 30 days. As you can guess, in that small window, hackers stole the data.

Be Exclusive

While outside attacks are most common, it is just as important to limit access internally. When choosing what data to retain, determine who actually needs access. Put differently, almost no one needs access to everything. While seemingly trite, it was news to Twitter. Yes, that Twitter, used for inopportune mental meanderings of politicians and celebrities. The FTC found Twitter actually allowed nearly all of its employees to have administrator rights, a situation that was exploited. Likewise, where your data is physical or later becomes physical through transmission or printing, limit who can send or print documents.

Be a Joiner

When it comes to security, don’t do it yourself. While it may

Partner Blitt and Gaines, P.C Vice-president Illinois Creditors Bar

seem counter-intuitive, going alone or with a lesser-known vendor may actually increase your danger. According to the FTC, the more widely known encryption processes are extensively tested against an array of cyber-security challenges. Proprietary or newer processes likely have not been tested as strenuously and may have easily exploited flaws, as the FTC found in its action against ValueClick. While bigger may not always be better, following the crowd is the better bet in cyber-security.

Be a Divider

Not every computer in your network needs to communicate with every other computer because it is in linked network portals where hackers begin their access. And, even if you segment your computers, further subdivide your database so that secured data is additionally segmented from network access, thereby requiring several layers of hacking to gain access. Even with that structure in place, ensure you monitor your network for suspicious activity. For example, one company without such monitors allowed a hacker to log in and install programs that collected that data for retrieval every few days. Easy money indeed.

Trust but Verify

For us, FDCPA compliance policy and procedures are taught as gospel. It should be no different with data security. Ensure your e-security protocols are written, updated and made mandatory. Moreover, because there is vicarious liability for data breaches caused by your vendors, mandate they comply with your firm’s security expectations and then audit them to that practice. In addition, do not limit your testing to FDCPA and FCRA. At our firm, our IT department not only educates on cyber security, we test on it. For example, fake emails with the sort of links hackers use are sent to staff to see if they can resist the urge to click and report the attempt. If they do, we give out a toy fish. With so many areas of concern, Luddite attorneys like us may simply hope that our security is sufficient. But in a world where a single hacker using Starbucks’ Wi-Fi may have hacked a bank, data security is no different than malpractice insurance. As a solo artist, former Police singer and bassist, Sting, bemoaned walls in “Fortress Around Your Heart.” He’s less gloomy about a fortress around his hard drive. November/December 2019

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Agenda MONDAY, NOVEMBER 18TH

WORTHINGTON HOTEL

2:00 Opening Keynote The Unafraid Tech-Enabled A/R Professional Gordon C. Beck III President, COO Valor Intelligent Processing While the foundation of this industry will always be the people, to stay ahead of the curve and create maximum value for your agencies, you must be digitized, tech enabled, cutting edge and unafraid. Recent regulatory developments have made this more possible than ever. 2:45 Artificial Intelligence for Collections Town Hall Moderated By Gordon C. Beck III Unsupervised machine learning can lead to unpleasant or even lawsuit-invoking behavior. Five AI experts answer your questions and go beyond the buzzword to present the reality about innovative, tested solutions so experimentation can be avoided. 3:30 Dessert Break

4 :00 Technological Solutions to Regulatory Requirements Debra Ciskey Executive Vice President The Collections Coach, LLC Rick Perr Partner Fineman Krekstein & Harris, P.C. Mike Frost Partner Malone Frost Martin PLLC The CFPB has proposed the use of texting, email, and the internet for communication with consumers, plus caps on telephone communications. Some states have call caps and provisions related to using email. In this session you will hear about the proposed and existing regulatory requirements, and the legal advantages and pitfalls of using the available technological tools, and gain insights about the ways new technologies can assist with the plethora of requirements outside of the CFPB regulation. 5 :00 An Update on Debt Collection Related Activities From the CFPB K. (Gandhi) Eswaramoorthy Program Manager for Debt Collections Consumer Financial Protection Bureau Hear directly from the CFPB after the 90-day comment period ends August 19 to update the 42-year-old FDCPA. The new debt collection rules become law one year later so leaders in

collections will implement technology to comply with the new rules. As the CFPB limits phone call frequency, social media contact and workplace emails, it also brings email, text and voicemail into the 21st century. 5:30-7:00 Opening Reception Sponsored by Join us for the opening reception sponsored by VoApps. The reception includes live jazz with Ron Jones, great food and drinks. You will have an opportunity to take home a little taste of Texas, your photo with a live longhorn. TUESDAY, NOVEMBER 19TH

TOPGOLF CONTINUED

8:00 Continental Breakfast Sponsored by 8:30 Text and Email Collections David Kaminski, Esq. Partner Carlson & Messer LLP David focuses his practice in the defense of the financial services industry, including banks, credit grantors, collection agencies, telecom carriers, and mobile marketers in all areas of financial services litigation. He is recognized for his work in defending against claims brought under consumer protection statutes, including the FDCPA, TCPA, the FCRA, and all other federal and state consumer protection laws and regularly gives presentations at leading industry trade organizations throughout the U.S. 9 :00 Technology Vendor Selection and Your Compliance Management System – Five Key Strategies Leslie Bender CIPP/US, CCCO, CCCA, IFCCE Chief Strategy Officer and General Counsel BCA Financial Services The creditor’s and vendor’s perspective of important strategies a vendor selection component of a compliance management system should include when evaluating the onboarding of a new technology or technology vendor, including: 1) Updates to your standard contract provisions that can improve communication over technology resources, 2) Re-evaluating pre- and post- selection due diligence tactics, 3) Onboarding a new technology, 4) Assessing generational and other diversity differences from a consumer’s perspective and how to weave them into technology choices, and 5) Early warning options for detecting UDAAP. November/December 2019

RECEIVABLES ADVISOR .com

CollectTECH19 Agenda

Platinum Sponsor

9:30 Got Game…In Your Contact Center? Tracy Dudek Chief Operating Officer State Collection Service What is gamification? Why would a contact center leader want to use gamification? Are there really measurable results from adding gaming to your toolbox? Have these questions answered via a case study format presentation of one organization’s addition of gaming in their 500+ seat contact center!

11:30 A Road Map to Virtual Collections and Your Future Jon Balon VP of Product and Innovation Williams & Fudge, Inc. Interacting and conducting business is changing faster than ever. People don’t have the patience to wait. When they want to do something, they want to do it right now. This session will cover a wide variety of strategies and topics to help you think where you need to go next and how you can get there sooner rather than later.

10:00 Coffee Break

12:00 Lunch, Networking and Golf Sponsored by 10:30 Speech Analytics 101 – The Good, The Bad, The Basics

John H. Bedard, Jr. Managing Attorney Bedard Law Group, P.C. LaDonna Bohling, IFCCE, CCCO Chief Compliance Officer Contract Callers, Inc. John represents creditors, asset buyers, and debt collectors, helping them stay in compliance with state and federal law. He also manages the nationwide litigation for several collection agencies and focuses his litigation practice on FDCPA, TCPA, and FCRA defense. John’s practice also focuses on defending regulatory actions including CFPB investigations and travels the country performing CFPB readiness assessments for the collection industry. 11:00 Transitioning IT Bank Collections Jeremy Ruth Director of Group Collections Arvest Bank Hear a creditor’s perspective of the challenges experienced when updating collection technology. Ruth will answer the questions involved with updating technology to improve compliance such as: does the ROI justify the time and monetary investment; and, is it easier to justify improved efficiencies and less FTE? Learn the best prioritization of software initiatives such as which initiative should come first, income generating initiatives versus collection process improvements, and the allocation of internal and vendor resources. Also covered will be unanticipated delays due to M&As, project management challenges and vendor-to-vendor communication.

2:00 Cyber Tracking Technology… The Future of Skip Tracing? Ron Brown Owner ConSec Investigations, Inc. Enter the fascinating world of “cyber tracking” through the free web data portals and explore the methods utilized by professional trackers to massage and manipulate social media sites to locate consumers and their assets. Through 21st century technology and millennial skill sets, lenders and their collection agencies can decrease both expenses and training time using little known direct and indirect pathways. During this entertaining, enlightening and educational session presented by Ron Brown, an internationally recognized tracer and instructor, you will be provided advanced technological insight, new and innovative data sources and a view into the professional and compliant “read only” methods which put millennial cyber trackers on the path to success, enabling them to locate consumers in a rapid and cost effective manner. 2:30 Collecting From the Unbanked and the Technology Surrounding It Howard George CEO Receivables Performance Management, LLC The FDIC estimated in 2018 there are 10 million unbanked and underbanked households in the U.S. Respectfully, 7.7% and 17.9% of U.S. population. Subsequently, that means 20% of U.S. population is not well evaluated or accommodated with regard to traditional credit scores and new technologies. The options and choices of scoring, communication channels and payment channels involve many technologies and enhancements. The evaluation of what will provide the best return of investment for your organization is critical. Continued on page 22

RECEIVABLES ADVISOR .com

November/December 2019

Agenda TUESDAY, NOVEMBER 19TH

TOPGOLF continued CONTINUED

3:00 Moneyball Approach to Collections Chris Dunkum President First Collection Services What is the craziest piece of data you have ever tried to use and how did you determine if it worked or not? The moneyball approach to collections is using data and analytics that some people may think are crazy to drive how we work in collections today. “Moneyball,” says Dunkum, “is one of my favorite movies because it sums up much of our industry. If success in pro baseball or pro football were tied to finances, the Yankees and Cowboys would always win. Yet it has been several years since the Yankees or the Cowboys have hung a championship banner.” In our industry there are companies of all sizes competing with each other. When all else is equal, the differentiator between companies is how we use data and analytics. This is going to be an open presentation where we discuss the tools that are available to us and how we better compete with these tools. We will discuss data that is available for us to buy and data that we can build using our work efforts. “You will leave this presentation with some very practical ideas and some that will make you think I am just crazy. Bottom line is you will leave the room thinking.”

3:30 AI, Machine Learning and Technology for 2020 Gordon C. Beck III President, COO Valor Intelligent Processing Open discussions around current topics where fellow attendees share their current collection challenges. Technology Experts will bring their knowledge for interactive roundtable discussions. Bring your toughest questions and get answers before you leave the conference. 4:00 -5:30

Dessert Break and Golf

Mitigate risk and reduce costs, all while Mitigate risk and reduce all while delivering a better client costs, experience. delivering a better client experience. An Intelligent Virtual Assistant gives more time for your agents to focus on strengthening skills and helping customers with more complex tasks while enabling your An Intelligent Virtual Assistant gives more time for your agents to focus onorganization strengthening to leverage automation to deliver consistent service per collection. skills and helping customers with more complex taskswhile whilereducing enablingyour yourcost organization to leverage automation to deliver consistent service while reducing your cost per collection. Learn more at interactions.com/collections Learn more at interactions.com/collections

CollectTECH19 Agenda WEDNESDAY, NOVEMBER 20TH

8:00

Breakfast Sponsored by

BER 20TH

5:30 A wards Reception and Meet and Greet on Rooftop Terrace Sponsored by

Meet, greet and make new friends who are all moving forward with technology. This high-tech event produces a fraternity of like-minded professionals who by completing the sessions qualifies you as an Accounts Receivable Technology Specialist. So, get to know your fellow graduates so you can keep in touch with them to share successes and challenges. TOP 6:00 R eceivables Advisor’s Awards Ceremony Sponsored by • • • • • • •

2019 Receivable Professional of the Year 2019 Product of the Year Most Innovative Agency Most Innovative Product Top 50 Receivables Professionals Top 50 Receivables Products Top 25 Innovative Agencies

RECEIVABLE PROFESSIONAL

2019

RECEIVABLES

ADVISOR

WORTHINGTON HOTEL

, NOVEM-

8:30 Becoming a Talent Magnet: Attracting and Keeping the Right Employees Dr. Mike Mowery President, Servant Leadership Implementation & Executive Coaching Strategic Government Resources Everything rises or falls with leadership, including attracting and keeping the right employees for your organization. Dr. Mowery explains why the key to attracting and keeping the right employees starts with becoming the right kind of leader. Mowery is certified as a facilitator by IOPT, Wave Changers, Friday Night at the ER, and the Institute of Cultural Affairs. 9:00 Roundtable TECHtalks Sponsored by Open discussions around current topics where fellow attendees share their current collection challenges. Technology Experts will bring their knowledge for interactive roundtable discussions. Bring your toughest questions and get answers before you leave the conference. 11:30 Conference Concludes

RECEIVABLES ADVISOR

COLLECT

TECH19

Platinum Sponsor

Castel Communications empowers contact centers with an industry-leading contact center solution suite. We deliver accuracy, flexibility, and efficiency through our award-winning dialing and speech analytics capabilities. The results are fullyautomated quality assurance, increased compliance, and reduced legal risk. Castel.com

Thank you to our Sponsors and Exhibitors

Katabat™ delivers best in class digital collection solutions to both 1st and 3rd party clients. Katabat’s unified platform allows you to deploy faster, at a fraction of the cost. Headquartered in Wilmington, DE, Katabat operates globally with international offices in Australia and the UK. Katabat.com

FICO is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO offers a collection ecosystem that integrates case management, workflow, analytics, and customer communications and self-service that enables your organization to eliminate silos and collect smarter. Learn more at https://www.fico. com/en/solutions/collections-and-recovery FICO.com

Prodigal Voice maximizes revenue for collection teams by applying advanced machine learning to all your dialing efforts. The solution recommends optimal strategies for outreach: When do you call, What do you say and What do you offer? By integrating natively with your favorite dialers, we deliver quick and actionable analysis with minimal IT burden. ProdigalTech.com

VoApps DirectDrop Voicemail delivers a voice message directly to the consumer’s voicemail box without calling the phone. Immediately increase right party contacts, dollars collected, and liquidation rates. Agencies using VoApps deliver thousands of voicemails in a matter of minutes. This creates availability for collection agents to field the influx of inbound phone calls responding to DirectDrop Voicemails. VoApps.com

RevSpring facilitates over one billion customer interactions annually, serving more than 2,000 clients in the healthcare and financial services spaces. Its vertically specialized solutions accelerate cash flow and ensure compliance on time-sensitive consumer communications, including mail, web, text, and phone. In addition, RevSpring improves the workflow, design, and distribution of consumer communications to make interactions more impactful, meaningful, and effective. RevSpring.com

CollectTECH19 Sponsors TECH LOCK enables organizations to navigate, detect, and respond to today’s modern cybersecurity and compliance challenges. Our focus is on adaptive managed security services. Security operations, industry-leading technology, premium threat detection, enriched with independent cyber research. Cohesive security and compliance services delivering measurable outcomes and personalized support to our clients. TechLockInc.com

Interactions provides Intelligent Virtual Agents that seamlessly assimilate conversational AI and human understanding to enable businesses to engage with their customers in highly productive and satisfying conversations. With flexible products and solutions designed to meet the growing demand for unified, omnichannel customer care, Interactions is delivering unprecedented improvements in the customer experience and significant cost savings for some of the largest brands in the world. interactions.com

Delvepoint is your right-party contact for the highest quality data and best customizable features, all at the most competitive price. Our advanced people and business-finding technology leverages more than 11 million sources, including all three credit bureaus, and over 65 million records to find accurate, actionable results. Customization occurs at every level, with the ability to create custom exports, view and arrange data, and save all preferences, making it easier to establish and monitor payment commitments from debtors. Delvepoint.com

CompuMail cultivates partnerships with our clients to ensure that they receive the best results, under the highest level of data security, at the most competitive price. We provide mailing and communication services, with a real-time portal to meet your management and oversight needs. Let CompuMail’s expert team partner with you to assist with the seamless integration of your message across multiple channels, from design to delivery. Technology changes, business changes, but our commitment to service doesn’t. CompuMailInc.com

Balto Software is the #1 AI software for real-time call guidance. Our software solution listens to both sides of a call and immediately delivers critical information and feedback to representatives. Balto is proud to be the only speech analytics company that can provide real-time feedback without storing customer data. BaltoSoftware.com

Valor Intelligent Processing is a digital, tech-enabled and cutting edge accounts receivable management firm with headquarters in Jacksonville, Florida. VIP provides enterprise level 1st and 3rd party solutions for every stage of the life-cycle including, but not limited to, omnichannel collections and recovery, analytics and custom contact center solutions. ValorVIP.com

Solutions by Text is a division of Marketing Response Solutions, LLC, a privately-held corporation whose primary focus is delivering critical information in an SMS format Worldwide. SBT has developed proprietary software designed to adhere to regulations within the industry. SolutionsByText.com

See page 26 for more CollectTECH19 Exhibitors

CORNERSTONE SUPPORT

Premier

Pairity maintains a multitude of machine learning models, designed specifically for accounts receivable management, which power a suite of products and an API framework to improve the debt collection process for all parties involved. Pairity.ai

Digital Recognition Network, DRN, fuels revenue, growth, and streamlined work processes for the top names in auto lending and insurance. DRN’s vehicle location data, and analytics helps customers know more, faster. With DRNsights we help our customers reach their customers, locate their assets, improve collections, and manage risk. DRNdata.com RECEIVABLES ADVISOR .com

November/December 2019

LICE NSING BON DS & INSU RANCE Let's get started: 866-288-5518 www.cornerstonesupport.com 25

RECEIVABLES ADVISOR

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TECH19

Thank you to our Exhibitors

Applied Innovation offers solutions designed to decrease compliance risk and increase the bottomline of receivables management organizations. Client and consumer facing software solutions allow you to take control of your business processes through automation and increased efficiencies. Accelerate sales, receivables, reduce expenses, and ensure maximum compliance with consumer protection laws. AppliedInnovationInc.com Accelerated Data Systems (ADS) has been a leader of accounts receivable software for over twenty-five years. ADS’ software platform, AdvantEdgeTM, has set the standard for collection and accounts receivable software. ADS’ primary goal is to make their clients more successful, more profitable, and more efficient over time. Attunely’s dynamic machine learning engine bolts

AcceleratedData.com

onto [an existing] system of record to monitor and optimize every debtor interaction throughout the collection process, serving up a series of evolving, prescriptive scores that help operators finely tune and prioritize their outreach strategies to maximize recovery. attunely.com

DKBinnovative’s unique methodology aligns a company’s IT and cyberdefense needs to enhance overall performance, with a measured impact on collections. The result-- fewer issues that slow team productivity, enhanced executive visibility, the right infrastructure & vendor blend, and the best tooling for maximized collection effectiveness with a new level of business command. DKBinnovative.com

ERC is an agile, technology-driven company that provides business process outsourcing (BPO) and account recovery services for Fortune 500 companies. ERC leverages the latest innovations in technology while providing extraordinary workforce resources to deliver unparalleled end-to-end customer experience solutions, making ERC a top performer for its clients. With offices spanning three continents and the best talent in the business, ERC is dedicated to changing the BPO landscape through its continued investment in artificial intelligence and data analysis, and its commitment to creating a highly trained, empowered workforce. ERCBPO.com

Powerful Right-Party Contact Solutions

The #1 AI Software for Collections

866-945-1667

baltosoftware.com (855) 462-2586

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RECEIVABLES ADVISOR .com

CollectTECH19 Exhibitors

Frontline Asset Strategies specializes in traditional and pre-legal recovery treatments that cover Auto, Bank Card, Retail, Installment Loan, Commercial and more! We are a consumer-focused, performancedriven organization that delivers compliant solutions through positive experiences and latest technologies. We are a full-service collection partner that gets it done! FrontlineAS.com

HighRadius is a Fintech enterprise Software-as-aService (SaaS) company which leverages Artificial Intelligence-based Autonomous Systems to help companies automate Accounts Receivable and Treasury processes. The HighRadius® Integrated Receivables platform reduces cycle times in your order-to-cash process through automation of receivables and payments processes across credit, electronic billing and payment processing, cash application, deductions, and collections. HighRadius.com

MicroBilt is the leading data provider for skip tracing. MicroBilt’ s suite of recovery and skip tracing tools provide quick, convenient, and current data that help you successfully track people down. MicroBilt also provides credit reports and bank account data and monitoring. MicroBilt.com

NLP Logix is an artificial intelligence, machine learning, and process automation solution provider. The NLP Logix team of experts have extensive experience in collections and debt recovery leveraging predictive models and dynamic scoring to determine propensity to pay. For more information about NLP Logix. NLPLogix.com

NPC’s Collection Letter Outsourcing Solutions (www. npcweb.com/debtcollection) help you streamline and automate your collection letter processes with a single-source solution so you can focus on maximizing revenue recovery for your clients. We work with you throughout the receivables communications lifecycle — content management; data hygiene; print, mail and digital communications; return mail processing; and document archiving, retrieval and storage — saving you valuable time and money, while helping you maintain 100% compliance. NPC web.com

Sonnet by Palinode, the leader in dispute automation. Palinode offers compliance and productivity software to assist data furnishers with consumer disputes and Metro2 reporting. Sonnet transforms processing performance by automating e-OSCAR and direct dispute workflows, reinforcing company policies and procedures and supporting compliance with the CFPB regulations for “reasonable investigation.” Palinode.io Continued on page 32

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November/December 2019

Business Directory Simplicity FICO Collection FICO Debt Software Manager Pro IC System, Inc. SimplicityCollect fico.com 3rd Party Collections simplicitycollectionsoftware.com (858) 369-8000 icsystem.com FICO provides an integrated suite of solutions for case sales@simplicitycollect.com 651-481-6531 866-791-0224 management, two-way omni-channel communicaejohannes@icsystem.com As an industry leader, Simplicity is the only software protions and analytics to help organizations improve IC System provides secure and compliant third-party vider to offer a web solution with unlimited users, clients, collection performance. bad debt collection services to a wide array of markets. accounts, and custom fields at an affordable price! Over 80 years of family ownership and consistent, The Computer trusted results. Sentinel Manager, Inc. Development Debt$Net Collection Software United Collection Solutions, Inc. debtnet5.com | sales@debtnet5.com Bureau, Inc. eCollections 800-552-8397 1st and 3rd Party Since 1987, Debt$Net collection software has provided ecollections.com | sales@ecollections.com Collections 515-564-0585 collection agencies, law firms and in-house collection ucbinc.com The result of 20 years of industry-leading collections/recovdepartments with one of the most comprehensive colssharma@ucbinc.com ery platform development, eCollections is a comprehensive lection systems in the industry. 954-236-6027 enterprise collection system with flexible configuration, UCB, Inc. provides national debt programs for creditors in Comtech Systems ease-of-use, powerful payment features, workflow automaall markets from fully-secure high performance collection Collect! tion, and unparalleled reporting and tracking. centers located in the U.S. and Latin America. Credit and Debt Collection Software Collection Support Services collect.org | info@collect.org Collection Software 800-661-6722 Cornerstone Collect! combines ease of use with total integration CDS Software Support of functions. Accounts are efficiently tracked from CollectOne State Licensing the time you receive them until activity is concluded collectone.com and E&O Insurance and they are closed. Collect! keeps track of critical info@collectone.com cornerstonesupport.com information automatically. Total integration provides info@cornerstonesupport.com 888-816-3333 for seamless and accurate month end invoices and CollectOne is an award winning suite of debt col888-445-8660 statements with full account histories. lection solutions that provides a feature-rich set of Cornerstone Support is the premier licensing and insurance automated business processes designed to minimize provider to the collection industry; professionally trained to DAKCS Software assist you with all of your state licensing needs. costs and maximize results. Systems Beyond ARM CODIX VoApps dakcs.com | sales@dakcs.com iMX Collection, DirectDrop Voicemail 800-873-2527 Legal and Recovery Solution voapps.com DAKCS Software Systems is an industry leader in simpli- sales@voapps.com codix.us/debt_collection fying the process of collections and accounts receivable 855-639-4907 bquinn@codix.us management. By creating highly configurable, innova- VoApp’s patented DirectDrop Voicemail service delivers a 404-790-0998 tive cloud and on-premise software solutions, DAKCS of- voice message directly to a consumer’s voicemail server – iMX is a complete centralized debt collection and fers a way to run your business faster and more efficient. without calling the phone in question. recovery software solution. Based on the latest DAKCS is committed to providing the tools necessary for technologies, iMX Debt Collection includes all the success in the ever evolving ARM industry. most advanced business functionalities supported by native tools. Debtmaster® Collection Solutions Debtmaster® 360 Software, Inc. debtmaster.com CSS IMPACT! HD™ 2.0 800-414-2814 cssimpact.com | arielb@cssimpact.com 1 issue - $500 Debtmaster®360 gives you cloud hosted, cost818-593-4830 effective, flexible, secure, collection solutions that helps 2-6 Issues - $300 each CSS IMPACT! HD™ 2.0 (Enterprise), the industry’s you manage compliance and provide quality service for leading ARM | Collections & Compliance Platform Clients and Debtors. delivering decades of deep rooted industry acumen for the ARM, Collections & Compliance sectors. IXP (Lite) also available. Continued on page 30

Collection Agencies

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November/December 2019

RECEIVABLES ADVISOR .com

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Taking the lead on stemming losses requires new strategies, data and analytics. You need context around the data and analytics you have, context that answers hard questions like: Does this propensity to skip model add up? What should my strategy be at different risk levels and how do I predict skips and delinquencies? DRN's vehicle location intelligence provides that context with insights that change how you answer those hard questions. It adds up to better, faster risk decisions that keep you on the road to revenue.

Transform risk into reliable revenue. DRNdata.com

*Subject to DPPA permissible use.

“We are making better decisions sooner.” - Philadelphia Federal Credit Union

Business Directory

RECEIVABLES

ADVISOR

Continued from page 28

Compliance LexisNexis® Risk Solutions LexisNexis ® Accurint ® for Collections lexisnexis.com/risk/receivables-management 800-869-0751 LexisNexis Risk Solutions assist debt recovery professionals with increasing workflow efficiencies, gaining greater insight into debt portfolios, collecting more in less time and achieving greater profitability.

Cybersecurity/IT DKBinnovative Managed IT/Cybersecurity/ Compliance dkbinnovative.com solutions@dkbinnovative.com 888-352-4832 Boost workforce productivity and stop cybersecurity and compliance threats with DKB. As your strategic partner and virtual CIO, focus on your agency while we protect and improve your technology effectiveness.

Mail Services CompuMail Inc. Print & Mail Services, Communications compumailinc.com info@compumailinc.com 360-260-1888 In addition to providing print and mail services, CompuMail’s solutions include email, online archiving, and real-time review & approve capabilities - coupled with superior service.

Skip Tracing LexisNexis® Risk Solutions LexisNexis® Accurint ® for Collections risk.lexisnexis.com 800-869-0751 LexisNexis® Risk Solutions assist debt recovery professionals with increasing workflow efficiencies, gaining greater insight into debt portfolios, collecting more in less time and achieving greater profitability.

VeriFacts Payroll Promise verifactsinc.com sclark@verifactsinc.com 800-542-7434 Payroll Promise is designed to support a legal strategy by locating verified full time places of employment. The information returned is 100% guaranteed to be accurate.

Editor-in-Chief Joshua Fluegel josh@receivablesadvisor.com Editor T. Steel Rose, CPA, ACG editor@receivablesadvisor.com

Speech Analytics

Copy Editor Myrna Nelson

speechIQ speechIQ speechiq.com sales@speechiq.com 888-683-1011 SpeechIQ is an AI-driven speech analytics and quality management platform helping companies automate and streamline quality assurance, improve agency performance, and mitigate compliance risks.

Advisory Board/Columnists Gordon Beck Ron Brown Debra Ciskey Michael L. Starzec Harry A. Strausser III

Virtual Collections

Publisher Angie Rose angie@receivablesadvisor.com

Applied Innovation Inc. ClientAccessWeb, PayStream, GreenLight, and Papyrus appliedinnovationinc.com 800-589-5651 mjeffers@appliedinnovationinc.com Applied Innovation provides a suite of compliant solutions for the ARM industry. Our solutions have proven to increase your bottom line with improved efficiencies, increased client sales and retention, and increased web services. Designed for your continued growth and success.

CollectTECH19 Chelsea Patterson chelsea@receivablesadvisor.com Production Andrea Bergeron Paul andrea@receivablesadvisor.com

InterProse ACE - Virtual Agent Collector interprose.com/collection-advisor aaron.reiter@interprose.com 844-244-1135 Add InterProse’s consumer-friendly, patented Virtual Agent Collector to your existing software or ask about ACE for a full conversion to a true, web-based collection platform, open to third-party integrations and packed with process automations.

LISTINGS AVAILABLE

1 issue - $500 | 2-6 Issues - $300 each 30

November/December 2019 Volume 19, No. 6

Subscription Changes Joshua Fluegel josh@receivablesadvisor.com The opinions given by contributing authors are their own and not necessarily the opinion of our staff and ownership. All trademarks used are the property of their respective owner.

Receivables Advisor (ISSN# 1556-0813) is produced six times a year by Abide Media, P.O. Box 92342, Southlake, TX 76092, 888-610-1144. Standard Mail postage paid at Sussex, WI 53089. ©2019 All Rights Reserved Magazine Publishing Group, Inc. Printed in the U.S.A.

November/December 2019

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TECHNOLOGY SHOWCASE

20,000 Receivables Professionals Seeking Technology Solutions

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GET DISCOVERED. ADVERTISE HERE. Learn more. Contact Angie today. 888-610-1144 RECEIVABLES ADVISOR .com 31

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ADVISOR

September/October 2019

RECEIVABLES ADVISOR

COLLECT

TECH19

Thank you to our Exhibitors

crucial, and compliance is a must. For close to 50 years, we’ve been the company customers can rely on—time after time. PCIGroup.com

Continued from page 27

YOUR PAYMENT PARTNER™

Providing innovative and secure payment solutions for the ARM industry has been our mainstay for over a decade. Looking to accept credit card, debit card, and ACH payments via a wide array of vehicles such as web payments, recurring billing, Fee-Free Payments™, IVR, or Pay by Text? Visit with the Payment Savvy team today to meet your new payment partner! PaymentSavvy.com

PCI Group is your leading provider of mission critical communications for the accounts receivable management industry and other businesses where security of customer-centric data is paramount, accuracy is

Telrock is a provider of modern SaaS based consumer collection & recovery software solutions that provide an advanced set of capabilities, including real time processing, omni-channel communication management, embedded digital channel messaging, and consumer collection portal. Solutions include Optimus: collection & recovery platform, and SmartCollect: consumer self-serve collection portal, with digital channel messaging. Telrock.com

PlugNPay has been a Gateway since 1996, making us the oldest operating gateway in the world. We currently servicing approx. 25,000 merchants and process approx. $5B/year. PlugNPay, with its banking partners developed Instant Merchant Settlement and Instant ACH. Once a processing batch is closed, funds are instantly available 24/7, even holidays. PlugNPay has the lowest processing rates for the collection industry. PlugNPay.com

Sentinel Development Solutions Inc. provides eCollections™, a leading collections management software solution. eCollections brings the power and capability of the enterprise to mid-sized and small businesses. Offered in both a hosted or traditional delivery model, eCollections™ provides unparalleled ease-of-use for collectors and exceptional power to managers. eCollections.com

Thrio’s comprehensive omnichannel cloud contact center suite powers CleanCall™ Dialer: your one-stop solution for smart, compliant, & highly productive campaigns. Thrio creates enriched asset recovery experiences, improves agent and supervisor productivity, and enables agencies of all sizes to deploy new capabilities faster. Additional capabilities include AI-driven virtual conversational bots to automate routine/complex collection interactions & negotiations, agent scorecards to optimize compliance & coaching, and a self-service portal to expand consumer recovery touchpoints. Thrio.com

Built for start-ups. Scalable for growth. Automate • Customize • Import • Cloud • Premise • Integrations

Demo.Collect-Cloud.com Collect.org

Demo.Collect-Cloud.com | Collect.org 32

Collect Smarter Collect Smarter CollectSmarter Smarter Collect

Intelligent technology for efficient, Intelligent technology for efficient, automated collections Intelligent technology efficient, Intelligent technology forfor efficient, automated collections automated collections automated collections With FICO solutions, you can modernize collections and optimize every critical

With FICO youdelinquency can modernize collections decision fromsolutions, early-stage to recovery andand debtoptimize sales. every critical With FICO solutions, you can modernize collections and optimize every critical With FICO solutions, you can modernize collections and optimize every critical decision from early-stage delinquency to recovery and debt sales. decision from early-stage delinquency to recovery and debt sales. decision from early-stage delinquency to recovery and debt sales. Case Management Case Management Improve efficiency and streamline strategies for better collections performance. Case Management Case Management Improve efficiency and streamline strategies for better collections performance. Improve efficiency streamline strategies for better collections performance. Improve efficiency and and streamline strategies for better collections performance. Intelligent Communication Intelligent Communication Drive interactive, automated communication with Intelligent Communication Intelligent Communication Drive interactive, automated with debtors through their preferredcommunication channels. Drive interactive, automated communication with Drive interactive, automated communication with debtors through their preferred channels. debtors through preferred channels. debtors through theirtheir preferred channels. Advanced Analytics Advanced Analytics Gain the insight to improve resource management Advanced Analytics Advanced Analytics Gain the insight to cases improve resource management and collect the right at the right time. Gain the insight to improve resource management Gain the insight to improve resource management and collect the right cases at the right time. collect the right cases at right the right time. and and collect the right cases at the time. Delivering real results for financial institutions

Delivering real results for financial institutions and collection agencies worldwide: Delivering real results for financial institutions Delivering real results for financial institutions and collection agencies worldwide: collection agencies worldwide: andand collection agencies worldwide:

+10%-50% Revenue+10%-50% Collected Annually +10%-50% +10%-50% Revenue Collected Annually Revenue Collected Annually Revenue Collected Annually +40% +40% Daily Processing Volume +40% +40% Daily Processing Volume Daily Processing Volume Daily Processing Volume +20% Collector+20% Productivity +20% +20% Collector Productivity Collector Productivity Collector Productivity -30% -30% Average Account Processing Time -30% -30% Average Account Processing Time

Average Account Processing Time Average Account Processing Time

FICO is a proud sponsor of CollectTECH 2019 FICO is a proud sponsor of CollectTECH 2019 a proud sponsor of CollectTECH 2019 FICOFICO is a is proud sponsor of CollectTECH 2019 VISIT US AT TOP GOLF BAY 206 VISIT US AT GOLF BAY 206 AND 207 TOTOP LEARN MORE VISIT USTOP AT TOP GOLF BAY VISIT US AT GOLF BAY 206206 AND 207 TO LEARN MORE TO LEARN MORE ANDAND 207207 TO LEARN MORE

SPEECH ANALYTICS PROVIDING IMMEDIATE OPERATIONS & QA RESULTS