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Welcome to the Era of Innovation and Technology at CollectTECH19 It’s time to innovate and be like every other industry trying new and exciting things to get ahead. Our future shines so brightly it hurts my eyes.

A future where we start doing video chat, using apps that make the process easier for consumers.

Creating channels in the credit reporting cycle to give opportunity to those that need it and promote positive transactions, not negative reputations.

Omni-channel solutions enable us to work with many different generations and add more to those we help every day get out of debt while providing them a world-class experience.

If we open our minds to the potential we possess, we can change this industry forever. If we are willing to take risks and utilize the great technologies at our disposal we can create a world of consumer finance where people aren’t afraid to pick up their phones, answer an email, reply to a text or go on an app as it pertains to their personal accounts, not just current, but also in collections.

Innovation starts with a single thought but has to end with action. If there was ever a time to act, that time is now.

CollectTECH19 is bringing together the brightest minds in technology to lead this era of innovation; I’m looking forward to seeing you there.

Your CollectTECH19 Keynote Speaker,

Gordon C. Beck III President and COO Valor Intelligent Processing

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Table of Contents

4 COMPLIANCE ADVISOR

Compliance Controls for the New Age of Collections Debra Ciskey

6

MANAGEMENT ADVISOR

The Beginning of Collections’ Era of Innovation Gordon C. Beck III

10 SKIP TRACING ADVISOR

When is License Plate Recognition Illegal?

Ron Brown

15

LEGAL COLLECTION ADVISOR

Dissecting the New World of Text and Email Michael L. Starzec

ONLINE TRAINING ADVISOR

Impress the Press with Communication Harry A. Strausser III

2

12 1 Welcome CollectTECH19 Brings Together 7 the Brightest Minds in Technology New Regulation Leads to Wave 8

of Innovation Leadership on the Future 12 Industry of Collection Technology CollectTECH19 Overview and Agenda 16

Education : Networking : Entertainment Project Management: 22

Asking the Right Questions Gordon C. Beck III

Jon Balon

Receivables Advisor 24 Business

Directory CollectTECH19 29

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Compliance Advisor I Debra Ciskey

Compliance Controls for the New Age of Collections

I

n a “be careful what you ask for” kind of way, the CFPB has suggested in its proposed Regulation F that debt collectors may communicate with consumers in ways that consumers may prefer over telephonic communication, namely, via email and text messaging. By the time readers see this article, readers have most likely attended numerous webinars, online classes, and face-to-face sessions at collection industry conferences and gatherings that discussed the provisions of the proposed regulation. New vocabulary such as opt-out, eSign, clear and conspicuous, and non-work have become part of our daily conversations. Some of us have had at least preliminary conversations with letter vendors, telephone vendors and bulk text messaging vendors about the technical innovations necessary to make 21st century communication possible.

The New Communication Methods Compliance controls

around the use of electronic communication will be key to risk avoidance. The proposed rule references the maintenance of procedures that include steps to reasonably confirm and document controls that will prevent third-party disclosure, allow emails only to email addresses that the consumer has not opted out of using for debt collection communication, allow text messages only to phone numbers that the consumer has not opted out of using for debt collection communication, prevents email and text messages from being sent to work email addresses and telephone numbers, and ensuring that initial emails used were recently used by consumers to communicate with the debt collector or creditor.

Controls are generally preventative in nature. They are designed to prevent avoidable risk and noncompliance.

Consider how controls can prevent non-compliance related to email. Will you aspire to limit email communication to system generated notices, such as payment reminders? Will collectors be allowed to generate emails? If so, will you have counselapproved templates in place to prevent free-form additional comments by individual collection staff? If additional comments are allowed, what will the process be to review additions to prevent overshadowing, false representations and threats, and deceptive practices? How will you prevent emails being sent to opted-out email addresses? What could go wrong with the use of email? What could be unintended consequences of using it? Each idea your team generates as the result of brainstorming might be the basis for a policy and procedure to control risk.

Executive Vice President Collections Coach, LLC

Essential Detective Controls Detective controls are designed

to uncover what went wrong. Who will be responsible for testing emails and text messages before they are sent out to consumers? Detective controls test whether your preventative controls are strong enough. If emails and text messages are sent by a vendor using immutable templates, is the same amount of scrutiny applied to emails sent by individuals in your organization? What mechanism will you have to put into place to conduct quality assurance and compliance audits on emails and test messages? Will you test only emails that your system perceives are not consistent with the provided template, or will you review every email that is generated?

The protections for consumers provided in the proposed rule will require innovative thought and potential modifications to account management systems, especially those that never anticipated that electronic communications with consumers would occur. At the most basic level, systems will need to add fields to contain an email address, or multiple fields for multiple email addresses the consumer may use to generate emails to a debt collector. Indicators will be required for the opted-in or opted-out status of the email address. What if the consumer uses an opted-out email address to generate an email to the debt collector? Does that reopen that email address as a “receiving email” address to which the debt collector may send subsequent emails until it receives another opt-out from the consumer? Consumer behavior is often unpredictable and often contradictory.

TCPA Isn’t Addressed? The proposed rule does not address Telephone Consumer Protection Act provisions related to consent and revocation of consent for calls and messages to wireless numbers.

The ACA Declaratory Ruling, issued by the Federal Communications Commission in 2015, said a party who provides his/her wireless number to a creditor as part of a credit application “reasonably evidences prior express consent by the cell phone subscriber to be contacted at the number regarding the debt,” and this applies to the creditor and any third party acting on behalf of the creditor. (ACA Declaratory Ruling, 23 FCC Rcd at 564, para.

9.) The burden of proof related to the source of the consumer’s number falls upon the caller. Innovative technological solutions will be required to sort this out for collectors who feel emboldened to text consumers with reminders or other messages.

Hear more from Debra Ciskey at

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Agency Advisor I Gordon C. Beck III

The Beginning of Collections’ Era of Innovation

L

et’s face it, innovation takes guts. How many countless articles have we seen about the expenses we face, the margins that suffer, the hand we have been dealt. Sometimes I want to reach out and say, “enough!” We have faced era after era of “the world is against us:” the TCPA era, the CFPB era that then led to the compliance era, the client “cut backs” era, and I’m sure we can think of a few more.

It’s over now.

Welcome to the era of innovation and technology.

Welcome to the era of opportunity. Welcome to the era of “it’s about time!”

In the aftermath of multiple back-to-back periods of time that steadily chipped away at what once was an overwhelmingly profitable industry, what we have left standing are battle-tested, tried and true, professional, undaunted ARM firms that are excited, ready and hungry to see the reward for standing tall and surviving a period that saw many agencies close, move over to the world of BPO or simply sell and get out.

No great reward comes easy, that is an understatement for many of you reading this column today, but please consider this: We have come out of this stronger than ever. We have a clear-cut path to compliance, the appropriate technology to protect us from dubious laws never meant for our industry, the staff and processes to protect us from litigious and opportunistic lawyers and the knowledge of how to operate in such a way that protects us from everything else. It’s time to move on to a time that shines so brightly on our future that it hurts my eyes. It’s time to innovate.

Even Rethinking Letters Innovation cannot be looked at as only technology or new products, innovation is doing what no one else has done before. It’s making decisions and taking chances and not being afraid of what people will think or how we will be attacked. We have learned enough about what we can do and what we can’t and now is the time to take advantage of that.

For example, when was the last time anyone took a long look at their letter deck and the wording in those letters? Has anyone tried anything different? Has anyone said, “maybe I will put a statement in my letters that consumers aren’t used to hearing, a statement that will open their minds to who we are and encourage them to reach out and contact my agency?”

How about an opening line such as, “We understand situations occur that are not always in our control, which is why we are reaching out to you today in an attempt to help you in a time of need,” should that be the case. Pretty interesting thought, right? Is it legal? Can someone sue us for that? I’m sure they

President/COO Valor Intelligent Processing

will try. But at the end of the day, out of the 100,000 letters you sent that week, how many people will pick up the phone and reach out simply because they don’t feel ashamed or threatened by a run-of-the-mill collection letter? 10,000 more?

5,000 more? How do we know if we don’t try?

Obviously, I am not recommending you do exactly this, but it’s a point. We are in a time when we can try something different, something exciting, something that will recover more dollars and potentially reduce expense. We run compliant organizations that should be proud of what we do, but yet we are all too often cornered into the norm out of fear while every other industry out there can try new and exciting things to get ahead and remain relevant and competitive.

Why can’t we start doing that? The answer is, we can.

Omni-Channel: The Future of Business I believe it is time for

us to start doing video chat, having apps that make things easy for the consumer. Creating channels in the credit reporting cycle that can give opportunity to those that need it and promote positive transactions, not negative reputations.

Omni-Channel solutions are the future of our business.

We are working with many different generations, but only catering to one. How can we change that if we don’t innovate?

In my opinion, we should be marketing our organizations no differently than Downy markets fabric softener; not just to potential clients, but to those that we help every day get out of debt while providing them a world-class experience.

If we open our minds to the potential we possess, we can change this industry forever. If we are willing do things never done, take risks and utilize the great technologies at our disposal we can create a world of consumer finance where people aren’t afraid to pick up their phones, answer an email, reply to a text or go on an app as it pertains to their personal accounts, not just current, but also in collections.

Think about the possibilities, if the agencies were looked at no differently than the creditors themselves and people had the confidence and the capability that they could communicate, both verbal and transactional, as they do with their own mortgage company. Innovation starts with a single thought but has to end with action. If there was ever a time to act, that time is now because we didn’t just weather the storm, we learned how to dance in the rain.

Hear more from Gordon C. Beck III at

COLLECT TECH19

CollectTECH19 Brings Together the Brightest Minds in Technology

T

he convergence of the top collection professionals in accounts receivable with the top technology providers happens November 18-20 at CollectTECH19 in Ft. Worth, Texas. Several technological innovations will be introduced. With new rules for voice, text and email ready for 2020 collection professionals are pondering when it will be the primary process for collections. Citibank and others have forecast up to 50% in banking staff reduction in five years due to the fourth industrial revolution (4IR).

4IR refers to how technologies like artificial intelligence, autonomous vehicles and the internet of things are merging with our physical lives in the form of voice-activated assistants, facial ID recognition and digital health-care sensors.

4IR is also called the post-digital era which is confusing because Digital Assistants like Alexa and Siri are still evolving.

Just like Artificial Intelligence is a broad term to describe the more specific benefits of machine learning, CollectTECH19 comes along to make practical the over-generalized predictions which will make 2020 a pivotal year to re-invent collections.

For example, CollectTECH19 predicts text and email will become the primary methods for collecting past due debts with-in five years.

Helping to distill what will be transitional technology and what will be more reliable the CollectTECH19 speaker line up continues to expand.

Two new additions to the presenter lineup are K (Gandhi) Eswaramoorthy, CFPB Program Manager for Debt Collections and LaDonna Bohling, Chief Compliance Officer of Contract Callers.

Prior to joining the CFPB, Eswaramoorthy was Senior Director of Collections and Recovery Policy and Strategy at Citi Cards. Prior to Citi, Gandhi spent several years at Barclays Card, Chase Card Services and American Express. Collectively, he has more than 25 years of experience working in all aspects of credit card risk management including risk K (Gandhi) modeling, account management, collections and Eswaramoorthy recovery policy and strategy.

Bohling has managed call center operations for over 20 years and was recently named ACA International’s 2019 Certified Instructor of the Year.

Bohling was named one of the 25 Most Influential Women in Collections by Collection Advisor magazine in 2016 and Who’s Who in Compliance

by Collection Advisor magazine in 2018.

Bohling will be joining John H. Bedard, LaDonna Bohling Jr. to discuss how the latest innovations in speech analytics improve revenue and compliance.

New Regulation Leads to Wave of Innovation

I

nnovation is the theme for CollectTECH19 energized by the ascent of Valor Intelligent Processing’s Gordon Beck and his ability to build an agency with the latest technology. Collections will experience disruption over the next five years characterized by a jolt in 2020 implementing email, text, voicemail and call limitations.

On the eve of updated regulation for accounts receivable, the industry is teeming with innovation to improve ROI. Here is a glimpse at some of the innovation CollectTECH19 attendees will see firsthand in November.

Go to CollectTECH19.com to see all the vendors ready to connect, teach and innovate.

VoApps

“On a technical level, VoApps DirectDrop Voicemail is innovative because it is a very lightweight, cloud-based, web Todd Santa Maria application,” said Todd Santa Maria, VP, Client Services at VoApps. “We can make updates and changes quickly, responding to the needs of the client base. Client feedback drives our development, and most new features we add start as a client need that we solve. We are constantly looking for the next change to the landscape and preparing multiple feature options to be able to react to the regulatory environment and keep our clients as safe as possible.”

Solutions by Text

“Solutions by Text is a global cloudnative SMS platform that can deliver text messages to any mobile device in Vivek Rao any country in any language,” said Vivek Rao, Senior Vice President, Products of Solutions by Text. “The platform was built from the ground-up with compliance as

the foundation. The system complies with the TCPA (US), HIPAA (US) and CASL (Canada). It is a consent-based model where the receiver is required to consent to receive text messages.

Consent is recorded and Solutions by Text serves as the system of record.”

Telrock

“Telrock’s SaaS based enterprise-wide collection and recovery software platform is the most complete solution available via the Rob Fite cloud,” said Rob Fite, Vice President, Business Development and Marketing. “Below are some of the capabilities that are offered with our more modern technology: realtime processing, embedded digital channel messaging and consumer self-directed collection portal, omnichannel collection contact management, dynamic rules driven “smart” collector workbench, extensible database schema, end-user graphical workflow visualization, on-demand component deployment (Easily expose existing / new capabilities when you want them), centralized collection rules / strategy management engine, real-time reporting, and supports AI.”

Accelerated Data Systems

“We have developed our own app store to increase the speed of delivery and decrease the cost of development,” Travis Pasch said Travis Pasch, Sales Director of Accelerated Data Systems.

“The system comes standard with over 200 apps prebuilt. These apps can also be developed by your own IT staff. Nearly every field in AdvantEdge is customizable or configurable allowing the software to mold to your business rules.”

HighRadius

“The Integrated Receivables platform provides solutions for credit, collections, deductions, cash application, electronic Ranjith Poladi billing, and payment processing – covering the entire gamut from credit-to-cash,” said Ranjith Poladi, Senior Digital Transformation Consultant of HighRadius. “HighRadius Integrated Receivables leverages Rivana Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit

Through omni-channel communication capabilities such as consumer facing apps, chat bots and text messaging, we are not going into this timid. and receivable processes. The Integrated Receivables platform also enables suppliers to digitally connect with buyers via the radiusOnenetwork, closing the loop from the supplier Accounts Receivable process to the buyer Accounts Payable process.”

CompuMail

TrakPCI is our online, real-time account management system. Tied directly to our workflow production systems, TrakPCI provides customers 24/7/365 access to our workflow from the time they transfer data to us to the time their communications are mailed to the consumer’s mailbox.”

“At CompuMail, we continually DKBinnovative invest substantial “DKBinnovative takes capital, time and a company’s IT and resources in highcybersecurity, enhances performance their capabilities, Stephanie Kaster software, technology and measures their and equipment to optimize impact,” said Keith Keith Barthhold our communication platform,” said Barthhold, CEO of Stephanie Kaster, EVP and Chief Sales DKBinnovative. “The result: fewer Officer of CompuMail. “The fastest issues that compromise productivity, growing method today is combined enhanced business owner Print and Email delivery with response tracking. We currently offer three different email methods to meet different objectives, all of which are secure and compliant and follow industry best practices. Our optical reader tracking and reporting technology, coupled with our real-time on-line ticketing system keeps our clients engaged and informed 24/7 and also enables them to provide superior service to the clients they serve.”

performance visibility, the right infrastructure/vendor blend, and the appropriate tooling for maximized collection efficiency.

“With this pragmatic approach, we provide what ARM clients need and break down the walls that crush IT productivity and maximized cybersecurity, enabling companies to use them as a more measurable and profitable differentiator for their clients.”

FICO

Carol Byrne

“FICO has rearchitected our collection solutions so that we now offer an integrated ecosystem, incorporating our powerful FICO Debt Continued on page 28

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PCI Group

“PCI Group is a transactional direct mail provider,” said Christian Kropac, Jr., President/Co-owner of PCI Group. “We Christian Kropac, Jr. implemented the most advanced production process for critical communications in the world in July, 2015. Known as the White Paper Factory, this production process marries fully digitally composed files with in-line full color inkjet print production and intelligent insertion to deliver ultrasecure, highly accurate, variable datagenerated personalized communications.

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Skip Tracing Advisor I Ron Brown

When is License Plate Recognition Illegal?

I

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

n the last issue we looked at the history and development without an expressed permissible purpose means that license of license plate recognition (LPR), currently considered plate numbers (whether obtained by writing them down or by many as a cutting-edge tool for cyber-tracking. We by taking pictures manually or automatically with automatic looked at how it originated and the companies who pioneered license plate reader/recognition cameras) are anonymous data. it in the United States. We saw how the original design application was intended for use by law enforcement but Predicting a Consumer’s Activity Is LPR data being used to quickly spread and migrated to the asset recovery industry and record Americans’ movements and thus trace a person’s past finally, how this form of cyber tracking movements? has changed the modus operandi of the LPR can be used to see where automobile repossession industry. you work, where you live, what social With this new technology there are functions you might attend, where you Finally, is the use of LPR an issues and concerns with the primary go to church, when and where you go invasion of a person’s issue being that of privacy. to eat and drink and where you shop.

This data can be used to determine your privacy? It has been stated What License Plate Recognition Isn’t habits and patterns and therefore be Many people, upon learning of this new predictive. by a major LPR entity that, technique of electronic surveillance began Two things the tracer should note. to develop the “big brother is watching First, LPR technology does not know “LPR doesn’t know who you syndrome” while others felt as if they who is driving or who is in a vehicle. are; it is anonymous data. were being stalked and their movements Second, LPR does not continuously trace tracked. Many felt that the use of LPR all movements. LPR is not a continuous was an invasion of their privacy. surveillance tool like GPS technology.

If we address these issues, we LPR technology only takes snapshots of a can discount stalking as per definition a person is not being license plate (and the attached car) and notes the location, time, followed, given chase, run after or placed under a surveillance. and date if a plate happens to be within view of a camera.

LPR does not meet the test.

This is very different from GPS tracking technology, If we look at the issue of tracking, I would have to say which is capable of tracing a vehicle’s movements over time maybe. LPR captures point-in-time data on a vehicle. If a with high precision and involves physical trespass upon private vehicle is spotted at different locations at varying times of day property (a vehicle) in order to place a tracker. Because of or night and a pattern is established then I would definitely feel these unique features of GPS technology, in 2012 the Supreme the person, or at least the vehicle, had been tracked.

Court’s decision in United States v. Jones determined that GPS Finally, is the use of LPR an invasion of a person’s privacy? tracking constitutes a search under the Fourth Amendment and It has been stated by a major LPR entity that, “LPR doesn’t should be subject to a warrant requirement. know who you are; it is anonymous data. A string of numbers LPR technology is a fascinating and helpful tool for the and letters with a date, time, and location – That is all.” professional tracer if used in a legal manner. Next issue we will address whether or not LPR technology can be defeated, Anonymous Identification? Why is the LPR data considered sending the tracer on a false trail? anonymous data and is your privacy protected from this realtime technology?

Hear more from Ron Brown at Because of the protections put in place by the Driver’s Privacy Protection Act, the inability to connect license plate numbers to protected personal information held at DMVs

COLLECT TECH19

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September/October 2019 RECEIVABLES ADVISOR .com

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Industry Leadership on the Future

OF COLLECTION TECHNOLOGY

T

he speed at which technology in the accounts receivable industry is advancing seems to be increasing exponentially. As the CFPB has finally provided guidance

on expectations for newer technology use, advancement is about to be kicked into hyperdrive.

But what is the best direction for technology and how professionals plan to use it? There are many viable directions and many needs to be addressed. Receivables Advisor reached out to industry leadership to get their thoughts on what preparations professionals should begin for the future, what tools we might be using and what technology professionals should start updating to get a jump start.

What is a key collection technology to master for 2020?

MATT KIEFER, MBA Chief Officer of Information, Compliance & Development The Preferred Group of Tampa Alternative communication channels like SMS and email, I think, will be key to master in 2020 depending on what the final rule is that comes from the CFPB as well as the FCC in clarifying the TCPA and FDCPA. We have to be able to (legally) adapt to changing consumer preferences in the way we communicate that is not obtrusive to the consumer but doesn’t open a niche market to frivolous litigation either.

12

MELISSA L. NASH President/CEO ARI Digital conversations such as texting, FaceTime and Skype. I believe consumers will speak with representatives face to face to resolve issues and our internal agents will use facial recognition to assist with rightparty contacts assuaging fears of confirming personal data with unknown parties. Our operational software will evolve for online payment processing with ease.

September/October 2019 RECEIVABLES ADVISOR .com

BRAD KLEIN President Paid In Full, Inc. The use of virtual negotiators in the collection process is definitely becoming more commonplace as agencies large and small try to find ways to more efficiently communicate with consumers. Agencies who embrace this technology being offered by more and more vendors will see increases in recoveries without an investment of an actual collector.

JON TOWNSEND President Cash-Pro, Inc. Omni-channel communication methods: I think it’s fairly apparent that we will have to adapt to our consumers’ chosen methods of communication.

MICHAEL JESELNIK General Manager Carter-Young, Inc. Multi-channel communications. How often do you see teenagers actually talking on their phone? Not that often! Take a moment to observe how these teens communicate: Snapchat, Instagram, FaceTime/ video chat, text and email. This demographic of future debtor avoids voice-only communications with almost as much gusto as avoiding their chores! If you’re not planning to expand the modes of communication your agency uses, you may find yourself getting left behind.

KIMBERLY STONE General Managing Director KLS Financial Services I think the biggest hottest collection technology to master that can directly impact the bottom line and payroll is a software that can manage, catalog and cut down on time spent responding to e-OSCAR disputes and allow for timely responses. We are

excited to implement this software here in the next few weeks. The only one that I know of is the Sonnet product, but there may be others. Other agencies have already gotten this integrated into their collection software and the references have been outstanding. When an agency owner tells you this is the best technology they have implemented in ten years, that speaks volumes!

The immediate return in reduced payroll and fluidity in responses, and simple automation will be noticeable in the first month of launch. I think moving administrative resources to items that can generate revenue will be a game changer especially for the small to midsize agency whose resources may be stretched already.

PAULINE KUSSART President The Stark Collection Agency I would say having an omni-channel platform will be a critical element of our overall strategy leading to success. The generations including Millennials, Gen Z and to some degree Gen X individuals would rather communicate via a means other than by telephone. We need to have the right technology available for the right consumer to communicate with us at the right time!

FRANK TRAMONTANO VP of Information Technology, CIO Immediate Credit Recovery A key collection technology for 2020 will be the necessity of the appropriate data analytics tools which allows agents to analyze and predict consumer behavior. Firms planning for an implementation must realize that storing and processing data throughout the collection lifecycle can be overwhelming if not sized correctly as the amount of consumer related data will significantly grow.

As such, accounts receivable firms will be required to procure a scalable system that is expandable to match data growth and include enough computing power to process the volume data accordingly. Accurate analytics of collection data when applied to the appropriate collection methodologies is sure to increase revenue, improve business processes, lower operational costs and allow firms to remain competitive. Also, to extend predictive analysis, the inclusion of AI system learning capabilities in the process will provide assumptions based on the data, test its findings and continue to learn autonomously which can significantly increase collections potential.

Continued on page 14

RECEIVABLES ADVISOR .com

September/October 2019

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Continued from page 13

What is an often-neglected collection technology professionals need to update?

MATT KIEFER, MBA I think security protocols are often neglected because an agency either thinks they are not on the radar or get complacent. Security patches and updates to firewall and antivirus software need to be maintained and, more importantly, followed up on to ensure they are updated, as well as at least quarterly scans and penetration testing even if it means enlisting the services of a professional outside of your organization needs to be considered.

MELISSA L. NASH Staffing becomes a reactionary update and initiating change is becoming harder and harder. First it’s overcoming the fear of the next lawsuit and secondly, the mindset of the future workforce. Agencies will automate processes and reduce personnel.

The next next: The data company who takes our bad phone numbers and scrubs them to return only good numbers will make a fortune. The reselling of old and bad data has to be addressed by agencies and the company who truly realizes the value of receiving information will be the industry standard. The cost of bad data drives up our liability and operational costs.

BRAD KLEIN Agencies need to ensure their collection software and their network as a whole are as secure as possible. The data most agencies maintain in their systems is highly sought after by identity thieves. Blocking access to the data via highquality and up-to-date firewalls and anti-virus software is all that is standing between the agency and the data thief.

JON TOWNSEND Internal scoring: We have access to so much data within our systems that has already been segregated into our target markets. We have historical performance that can be linked to consumer demographics, industry types, payment histories, contact rates, geographic information, etc. It doesn’t require a lot of computing power or sophisticated programming to utilize this data to help predict the outcomes and behaviors of our consumers.

MICHAEL JESELNIK Analysis of your data. Most collection software has very robust reporting; however, it seems many agencies are not taking the time to extract and analyze this data. I always encourage that business decisions should be based more on quantifiable data and less on our “gut feelings.”

14

KIMBERLY STONE This is a difficult question, as we have pretty much implemented changes in just about every area of collection technology in the last couple of years which in all honesty we neglected because of the old adage “if it ain’t broke.” For us, the most significant switch was telephonic. Phone systems can last for years!

For a mid-sized agency, a 50K investment in phone system and recording software on a five-year lease should last at least twice that time, and it did (perhaps longer but time flies). Admittedly, this was a neglected area and systematically we were using four or five tools to come up with metrics, call logs, recording logs, dialing campaigns, interoffice messaging, and manually analyzing data to determine call times, etc.

Yes, it lasted for years and actually still works (currently for sale on eBay). As a collection professional, focus was on revenue generating changes; therefore, the phone system just wasn’t on the radar. Who knew that soft phones would be so much easier for our younger staffers and that dialing out would improve by 10%? Who knew that with one cloud software I could reroute calls while at a conference or when stuck at home in a snowstorm? Who knew that my phone vendor (Vaspian) could offer support and compliance for a per seat cost? I finally paid attention and now my fastest dialers are even faster, my recordings are much easier to locate.

Training software like Balto (another technology you should investigate) can be attached and give live analysis on calls to monitor compliance and train in the moment. A cloud solution means I don’t have to deal with four servers and an overheating server room. So for me, I realized that my focus on revenue generating collection changes missed the mark for years and perhaps limited our growth in ways I didn’t even conceptualize. Attending the national conferences and paying attention to vendors there and at our local unit meetings made the difference with simple knowledge of what is available in our industry. Often at these conferences the face-to-face with our vendors affords better pricing opportunities.

PAULINE KUSSART As old fashioned as it sounds, we all still need to send collection notices at some point during our normal course of business. We need to pay attention to what our letter vendors can offer in terms of integration with texting, emailing, etc. I think letter vendors have more to offer than some of us are taking advantage of.

FRANK TRAMONTANO Clients are requiring that their collection firms maintain security as a high priority. As data breaches are on the rise, potent and modern security tools are required to safeguard consumer data against today’s ever-increasing technical vulnerabilities, exploits and breaches. Proven detection tools which collect and examine active network data then utilize machine learning with forensic analytics to validate potential network security events should be added to firms’ respective IT security infrastructure. To remain competitive collection firms’ data centers must be adequately equipped to prevent breaches and insure consumer data remains safe.

September/October 2019 RECEIVABLES ADVISOR .com

Legal Collection Advisor I Michael L. Starzec

Dissecting the New World of Text and Email

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

W

hen my wife and I were in California, she when using emails or texts. insisted on taking a picture next to the sign The proposed rules will allow the transmittal of outside Facebook’s HQ, a sign bearing the required correspondences via email or text. In addition to a ubiquitous “Like” icon. There, I noticed that the reverse safe harbor initial demand letter form, a debt collector will side of the sign bore the logo of Sun Microsystems. This be able to send that initial demand electronically. If sent in confounded me. Is Zuckerberg that manner, the Bureau will set forth that cheap? However, Zuckerberg requirements and allowances for debt purposefully did this when they collectors to provide prompts within took over Sun’s campus to remind the communication for disputes, The proposed rules will allow employees what happens if you fail to validation and other features. Hence, the transmittal of required innovate. In 1998, Sun was on top of the consumer could click on a link the world. Two years later, Microsoft, in your demand letter to dispute correspondences via email Intel and Linux caught up with the debt, cease and desist or make or text. In addition to a safe Sun and offered their comparative a payment. To further protect debt harbor initial demand letter products at a cheaper price. Ten years collectors, the Bureau would create a later, the company that had called model validation notice, clarify how form, a debt collector will itself “the dot in .com” ceased even to to validate debts electronically and be able to send that initial be a dot on the map. a safe harbor if the debt collector The same holds true in our complies with certain steps when demand electronically. industry: The FDCPA remained delivering validation notices within stuck in the 1970s, lacking only bellthe body of an email, if that is the bottoms, pet rocks and a Bee Gees initial communication. album to complete the look. Then, When Netscape Navigator was on May 22, 2019, the CFPB proposed rulemaking to finally deemed David to Microsoft’s Goliath, Bill Gates is claimed address the 21st century. to have said they had to “innovate or die.” That is no Recognizing communication technology evolution has different here. The CFPB is proposing these rules and on led to a consumer preference for email, texts or web portal their face, the changes are refreshing, they seek to balance communication, the CFPB proposed rules for the new the overreaching of the former CFPB chair and allow for communication modes. First is a “limited content message” our input. Now, given the relative fairness of the proposal, that will not qualify as a communication under the FDCPA, we could sit back and let the process play out. However, it so long as it does not communicate certain specific pieces is important that we stop being reactive and be part of the of information that can be texted or emailed. Second, change. I can guarantee that our friends on the consumer Cease and Desist requests will be specific to the form of side will loudly proclaim these proposed rules are bad for communication. For example, a consumer can designate consumers. As we know, they really mean that the rules emails as their preferred communication means and limit will be bad for business. This is a chance not simply to all others. Third, the rules will allow use of emails and texts modernize communication but create black and white in debt collection, with certain limits, such as inclusion of standards to protect us against the endless lawsuits that feast instructions to opt-out of receiving emails or texts. Finally, on the gray areas of the FDCPA. Let your voice be heard, the rules would set out procedures to protect debt collectors whether on your own or through a national organization. from liability for unintentional third-party communication Shape the future, don’t be shaped by it.

RECEIVABLES ADVISOR .com

September/October 2019

15

HONORING INDUSTRY STARS Receivables Professional of the Year Most Innovative Agency Collection Product of the Year Most Innovative Collection Product Top 50 Receivables Professionals Top 25 Innovative Agencies Top 50 Collection Products TOP

RECEIVABLES PROFESSIONAL

2019

RECEIVABLES ADVISOR

COLLECT

TECH19 THE PREMIER COLLECTION TECHNOLOGY EVENT

The receivables world is changing fast. Yet, the receivables community’s core mission hasn’t wavered—using the latest technology to enhance more compliant collection techniques to improve collections.

CollectTECH19 will underscore industry trends and deliver proven strategies in modernizing communications, utilizing AI, gamification, cyber tracking technology, machine learning, chatbots, how to use your data and analytics and becoming a talent magnet.

CollectTECH19 is where the leading innovators will be making major product announcements. Be one of the first to learn of all the latest products to help you empower your collections in 2020.

CollectTECH19 is a delicate balance of education, networking and entertainment focusing on technology and compliance issues in an unrivaled setting.

NOVEMBER 18-20 WORTHINGTON RENAISSANCE HOTEL & TOPGOLF FORT WORTH, TX

Register online

CollectTECH19.com RECEIVABLES

ADVISOR

Edutainment EDUCATION : NETWORKING : ENTERTAINMENT

Welcome Reception MONDAY, NOVEMBER 18 5:30 PM - 7:00 PM Get to know other leaders in the industry, reconnect with old friends and meet new ones. The opening reception includes live jazz, a live longhorn Sponsored By: for photos, an open bar and hors d’oeuvres.

Receivables Advisor Awards Reception TUESDAY, NOVEMBER 19 5:00 PM - 6:45 PM An hour of TopGolf, open bar and hors d’oeuvres precedes the awards ceremony. The Awards Ceremony is on Tuesday evening honoring the Receivables Professional of the Year, the Product of the Year, the Most Innovative Product and the Most Innovative Agency. Additionally, the Top 50 Receivables Professionals, the Top 50 Products and the Most Innovative Agencies are recognized.

Sponsored By:

TECHtalk Roundtable Discussions WEDNESDAY, NOVEMBER 20 9:30 AM - NOON A special morning for interactive discussions with table topics where attendees share their insights in small discussion groups. Attendees will have access to technology experts hosting the latest technology issues in twenty-minute intervals. TECHtalks will rotate allowing you time to access 4 of your favorite topics.

Continued on page 18

Education Jeremy Ruth ARVEST BANK

Lori A. Vanderpool T-MOBILE

K (Gandhi) Eswaramoorthy CFPB

Getting the most out of your technology investments has never been so important or difficult. Join us at Receivables Advisor’s CollectTECH19 for the latest insight on how today’s technology can reduce decision making complexity and jumpstart growth for 2020. Sessions tailored especially for credit and collection executives, deliver the latest thought leadership in Artificial Intelligence, Texting, Email, Voicemail, Chatbots, Real-time Speech Analytics, Virtual Collections, Client Portals and more.

Leslie Bender

BCA FINANCIAL SERVICES

MONDAY, NOVEMBER 18

2:00 PM – 5:30 PM Mike Frost

MALONE FROST MARTIN PLLC

John H. Bedard, Jr.

BEDARD LAW GROUP, P.C

Opening Keynote The Unafraid Tech-Enabled A/R Professional Technology Vendor Selection and Your Compliance Management System Five Key Strategies

Tracy Dudek

STATE COLLECTION SERVICE

Gordon Beck

VALOR INTELLIGENT PROCESSING

Technology Solutions to Regulatory Requirements CFPB Update

5:30 PM – 7:00 PM Debra J. Ciskey

Chris Dunkum

COLLECTIONS COACH, LLC

FIRST COLLECTION SERVICES

Opening Reception

TUESDAY, NOVEMBER 19

8:30 AM – 5:00 PM

Artificial Intelligence and Machine Learning for Collections Jon Balon

CollectTECH19 S PEAKERS

WILLIAMS & FUDGE, INC.

Rick Perr

FINEMAN KREKSTEIN & HARRIS, P.C.

Text & Email Collections Got Game...

In Your Contact Center?

Speech Analytics 101 – The Good, The Bad, The Basics

Ron L. Brown

CONSEC INVESTIGATIONS, INC.

David J. Kaminski, Esq. CARLSON & MESSER LLP

Howard George

Dr. Mike Mowery

STRATEGIC GOVERNMENT RESOURCES

Lunch, Network and Golf Cyber Tracking Technology...

The Future of Skip Tracing?

Collecting From the Unbanked and the Technology Surrounding It Healthcare Collection Advances Chatbots & Collection Tools for Credit Grantors Moneyball Approach to Collections

5:00 PM - 6:45 PM Awards Reception and Golf Awards Ceremony

WEDNESDAY, NOVEMBER 20

8:30 AM – NOON

Breakfast Keynote Becoming a Talent Magnet: Attracting and Keeping the Right Employees Roundtable TECHtalks

NOON - Conference Ends

Transitioning IT Bank Collections A Road Map to Virtual Collections and Your Future

RECEIVABLES PERFORMANCE MANAGEMENT, LLC

NOON – 2:00 PM

Visit CollectTECH19.com for more details

Entertainment TopGolf Tournament TUESDAY, NOVEMBER 19 NOON - 2:00 PM The golf tournament will take place during a two-hour networking lunch and a one-hour reception prior to the Awards Ceremony. At TopGolf players score points by hitting balls (embedded with microchip technology) into a variety of large targets. No experience is necessary to play the game; there are plenty of targets anyone can hit. TopGolf is a fun venue to sit back and relax and connect with other attendees. The winners will be announced at the Awards Reception.

Ron Jones Live Music MONDAY, NOVEMBER 18 5:30 PM - 7:00 PM The opening reception includes live jazz with Ron Jones. Ron has performed at the New York Blue Note, Woldorf Astoria, 55 Bar, recorded original jazz CDs, written music for CNN, recorded with Al Green, jammed with Smokey Robinson and Mick Fleetwood and opened for Crosby, Stills & Nash.

Sponsored By:

Live Longhorn Photo Booth MONDAY, NOVEMBER 18 5:30 PM- 7:00 PM Take a little taste of Texas home with you. You will have the opportunity to have your picture taken on a live longhorn at the Welcome Reception.

Continued on page 20

CollectTECH19

SEPT 30

Register Online CollectTECH19.com

Early Registration

Sessions tailored especially for credit and collection executives

OCT 28

Attendee Registration: EARLY DECISION DISCOUNTS

$895

before September 30th

$1095

before October 31st

$1195 $1295 before November 10th

on-site

Conference registration includes: Full session attendance, breakfast, lunch, receptions and TopGolf with transportation.

Member Discounts Available: Receive a $200 discount if you are a member of the following associations: Discount Code: 2019 Member (NAME OF ASSOCIATION) | Example: 2019 Member CBA

Team Discount:

$647.50 Each

Additional attendees from the same company receive 50% off the full price conference price $647.50

SPONSORS

DEADLINE

Hotel Room Rate - $199

DEADLINE

FORT WORTH, TEXAS Fort Worth welcomes visitors from around the world to experience the great American West and rich arts and culinary treasures. There are more than 92 attractions in a 10-mile radius of downtown. The city offers the No. 1 downtown in America and is located 23 minutes from Cowboy Stadium and DFW International Airport. As one visitor says, “unpretentious, laid-back, and charismatic in all the right ways.” Fort Worth averages a daily maximum temperature for November that’s between 63 and 71 degrees.

CollectTECH19 begins at 2 pm on Monday afternoon and ends Wednesday so you can fly in on Monday morning and fly out on Wednesday afternoon. Just as the goal of CollectTECH19 is to make you more efficient with technology, the event is built to make your time more efficient. Flying time is under 3 ½ hours from any major city in the U.S. From DFW airport it is a 23-minute car ride to downtown Fort Worth or a short train ride on Trinity Metro.

Don’t Forget to Reserve your Hotel!

FortWorth.com

Worthington Renaissance Fort Worth 200 N. Main Street, Fort Worth, Texas 76102 Located in Sundance Square the shopping and dining center of Fort Worth Transportation to TopGolf will depart from the Worthington

Book Online: CollectTECH19.com CollectTECH19 Group Rate - $199 Deadline: October 28, 2019

We cannot guarantee rooms will be available through the deadline date.

EXHIBITORS

ROOMS

selling out QUICKLY!

S PROJECT MANAGEMENT ASKING THE RIGHT QUESTIONS

BY JON BALON Know the Right Questions to Ask

Where is it that we want to go? This is likely the easiest question to answer and each question from here will get a little trickier as we progress through our planning. After some deliberation, we decide we are headed to the beach in South Carolina for our 2019 family vacation. When thinking about the work project, be it emailing consumers, texting consumers, or offering text to pay functionality, your objective is your starting point.

Now that we’ve designated the beach in South Carolina as our vacation destination, what’s next? Let’s start building on our high-level objective.

VACATION

WORK PROJECT

Beach Vacation in South Carolina

High Level Planning

When do you want to go?

When do we want to start this project?

Who is going to go?

Who is going to be involved in the project?

What sites do we want to see while we are there?

Projects can’t go on forever, what time can we allocate to this project?

What is our budget for our trip?

How much are we willing to spend on this effort?

How do we maximize our entertainment budget?

What is our return on investment?

While in SC, what do we want to do?

What features do we want to offer our clients?

ummer is in full swing! The kids are out of school and we all have one thing on our minds…vacation! Where should we go? What should we do? What’s our budget?

Jon Balon The list goes on and on. No matter the type of vacation, we all go through these questions when planning our memorable summer family experience away from home.

While we plan this vacation, let’s keep that big project at work front and center too. Is tackling that project really all that different from planning this summer’s family adventure? In reality, the two are more similar than different. That being said, let’s tackle both at once. After all, they both require time, attention, dedication, focus and, most importantly, a plan of action that allows you to break things down into bite-size pieces.

Our high-level planning is taking us to Charleston, SC for one week and our big adventure will be scuba diving for the first time. Your project should have a similar high-level vision statement. However, based on this statement we aren’t quite ready to get started.

One Week in Charleston to Scuba Dive

Detailed Level Planning

Where do we want to stay?

How do we want to incorporate this into our current processes?

How are we going to get there?

Are we going to build this?

Do we need to buy something?

Should we involve clients?

What do we need to pack?

What all do we need to get started?

What is involved in Scuba Diving?

We have never done this, do we need training, do we need a partner to help us, do we need to hire team members with a skill we don’t have?

In our vacation planning, we have a major unknown: scuba diving. It looks awesome when watching Shark Week on TV and friends rave about how cool it is, but we have no clue what we are doing. Many of the projects that you want to take on may evoke similar feelings. We have never done this before, now what? In this case, conducting research is the best way to determine what all is involved. With resources like Google and Yelp, it is easier than ever to maximize our

experience, by partnering with an expert. How do we pick the right partner? Here are a couple things to keep in mind during the selection process:

Select Scuba Diving Guide

Choosing a Partner

How long have they been diving?

What is the partners experience with the type of project we are undertaking?

Where will we be diving? What will we see? What should we bring?

What are the project details, project deliverables, and what is expected of us during the project?

How long is a dive?

How long will this project take?

How much training is needed for us to dive?

What do we need to do before the project starts to be properly prepared?

How much does the dive cost and what is included?

What is the cost and what are the deliverables?

How much is it if we want to keep diving?

What if we want to add features and extend the project, what will that cost?

In terms of our vacation planning, we seem to be in a good spot. We have our travel plans ready, our hotel is booked, we have started our scuba dive training, and are excited for our family vacation to begin. Your big work project is shaping up nicely, you have your partner and your start date is set.

Vacation day is here, the family is excited and the kids can’t wait to get to the beach. We have all been there, it’s going to be a great trip, let’s go! However, we all know this is just the beginning.

Vacation Time

Project Starts

Traffic?

Team Member gets pulled off the project for a critical production issue.

Kids get hungry, that’s not in the budget.

Oh, we need that feature and it was not planned.

Hotel was overbooked

Software being used is not updated and needs updated before starting.

Weather isn’t looking good to scuba dive

Our partner resource’s spouse went into labor, they are no longer available.

Life happens no matter how far in advance or well we plan.

When beginning planning efforts, don’t be afraid to tackle the “what ifs” early in the process. This helps better prepare you for

any unexpected surprises that arise along to the way.

It is scuba dive day or, in the project world, go-live day!

We have been on a wild ride thus far! We were three hours late getting checked into our hotel, one child forgot to reapply sunscreen and is experiencing sunburn for the first time, we are operating on two hours of sleep from the night before… but it’s scuba dive day, so let’s go!

We arrive at the dock, get on the boat, and are off to scuba dive an awesome shipwreck. What can go wrong? Will I get seasick? What if I see a shark? What if the boat leaves me? Remember, the risks of doing anything for the first time, are bound to be racing through your head, especially the day you go live. This is normal in life and can be countered with careful planning, trust in your team and a little bit of luck doesn’t hurt.

The boat stops, anchor is down, and we are scuba diving.

It is an awesome experience, the family is having a blast, the weather is perfect, and the sights are unbelievable. This is the moment you step back and say, “it was all worth it.”

Whether it’s a crazy first-time adventure or a project that you completed, do not forget to celebrate that moment. You deserve it!

The vacation has come to an end, and although it’s time to make our way home, we have created new memories that we will carry with us forever. In the project world, we have launched and now it’s back to business as usual…until our next “vacation.”

Conquering Procrastination

We all go on vacation, we all have adventures in life. Why are we so reluctant to start that project we have been talking about for months? We go through all the same steps, preparing for family vacation, but we seem to forget those same steps when we are planning that project. During our vacation we are bound to face unknowns, have emotional ups and downs, face challenges, and contemplate risks versus reward. These are all the same things we will face throughout the life of a project.

When we step back and think about the completed project, we recognize we worked hard to get there. You set an objective, dove deep into the details, rallied the team, executed the plan.

It feels good to see the fruits of your labor, especially when they create positive outcomes for the clients that you serve.

So that project you haven’t moved forward with, stop putting it off. Treat it just like you would that cruise to the Bahamas and let’s go on vacation!

I would love to see and hear from you during CollectTECH19, where I will be discussing the topic of virtual collections - what it is, and how we get started.

Jon Balon is currently the Vice President of Product & Innovation at Williams & Fudge, Inc. Established in 1986, Williams & Fudge, Inc. manages student loan receivables for more than 1,400 colleges and universities across the globe. Headquartered in the Knowledge Park District of Rock Hill, South Carolina, Williams & Fudge is family-owned and operated and is committed to contributing to the advancement of the communities in which they serve.

Business Directory Collection Agencies IC System, Inc. 3rd Party Collections

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United Collection Bureau, Inc.

1st and 3rd Party Collections ucbinc.com ssharma@ucbinc.com 954-236-6027 UCB, Inc. provides national debt programs for creditors in all markets from fully-secure high performance collection centers located in the U.S. and Latin America.

Quantrax FICO Corporation Inc. FICO Debt

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The Computer Manager, Inc. Debt$Net Collection Software debtnet5.com | sales@debtnet5.com 800-552-8397 Since 1987, Debt$Net collection software has provided collection agencies, law firms and in-house collection departments with one of the most comprehensive collection systems in the industry.

Simplicity Collection Software SimplicityCollect simplicitycollectionsoftware.com sales@simplicitycollect.com 866-791-0224 As an industry leader, Simplicity is the only software provider to offer a web solution with unlimited users, clients, accounts, and custom fields at an affordable price!

Comtech Systems Sentinel Collect!

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Systems Cornerstone Beyond ARM CODIX Support dakcs.com | sales@dakcs.com iMX Collection, State Licensing 800-873-2527 Legal and Recovery Solution and E&O Insurance DAKCS Software Systems is an industry leader in simpli- cornerstonesupport.com codix.us/debt_collection fying the process of collections and accounts receivable info@cornerstonesupport.com bquinn@codix.us management. By creating highly configurable, innova- 888-445-8660 404-790-0998 tive cloud and on-premise software solutions, DAKCS of- Cornerstone Support is the premier licensing and insurance iMX is a complete centralized debt collection and fers a way to run your business faster and more efficient. provider to the collection industry; professionally trained to recovery software solution. Based on the latest DAKCS is committed to providing the tools necessary for assist you with all of your state licensing needs. technologies, iMX Debt Collection includes all the success in the ever evolving ARM industry. most advanced business functionalities supported by native tools.

VoApps Debtmaster® DirectDrop Voicemail Collection Solutions voapps.com Debtmaster® 360 Software, Inc. sales@voapps.com debtmaster.com CSS IMPACT! HD™ 2.0 855-639-4907 800-414-2814 cssimpact.com | arielb@cssimpact.com VoApp’s patented DirectDrop Voicemail service delivers a Debtmaster®360 gives you cloud hosted, cost818-593-4830 effective, flexible, secure, collection solutions that helps voice message directly to a consumer’s voicemail server – CSS IMPACT! HD™ 2.0 (Enterprise), the industry’s you manage compliance and provide quality service for without calling the phone in question. 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.

September/October 2019 RECEIVABLES ADVISOR .com

RECEIVABLES

ADVISOR

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.

U.S. Tracers Proprietary Place of Employment

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.

Virtual Collections 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.

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.

1 issue - $500 | 2-6 Issues - $300 each September/October 2019

Editor-in-Chief Joshua Fluegel josh@receivablesadvisor.com

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.

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RECEIVABLES ADVISOR .com

September/October 2019 Volume 19, No. 5

Advisory Board/Columnists Gordon Beck Ron Brown Debra Ciskey Michael L. Starzec Harry A. Strausser III Publisher Angie Rose angie@receivablesadvisor.com CollectTECH19 Chelsea Patterson chelsea@receivablesadvisor.com Production Andrea Bergeron Paul andrea@receivablesadvisor.com 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.

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RECEIVABLES

ADVISOR September/October 2019 RECEIVABLES ADVISOR .com

Built for start-ups.

Scalable for growth.

Automate • Customize • Import • Cloud • Premise • Integrations

Demo.Collect-Cloud.com Collect.org

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COLLECTORS SUPPORTING

COMMUNITY Let us know about your local hero!

Nominate a collector or show how your agency improves the community's quality of life.

Every year, MRS BPO puts on its walking shoes and joins American Cancer Society’s Making Strides Against Breast Cancer organization to raise money for breast cancer research. This year, MRS reached a new fundraising high, generating over $15,000 at their New Jersey, Ohio and Alabama offices through food sales, breast cancer bracelet sales and a raffle.

“We know that collections is a tough job, so we always try to do things that are fun and rewarding for the employees,” remarked Regina Weir, Chief Personnel Officer, who first got MRS involved in Making Strides over six years ago. “From day one, our employees embraced this fundraising project and they continue to outdo themselves each year.”

RECEIVABLES ADVISOR .com

September/October 2019

Email your nominations to josh@ collectionadvisor.com: include name, title, company and a short description of their work in the community.

We will highlight nominees in future issues of Receivables Advisor.

RECEIVABLES

ADVISOR 27

Interactions uses Conversational AI and ML combined with real-time, human-assisted understanding to engage in conversations with human-like accuracy.

Continued from page 9 Manager along with two-way omni-channel communications and powerful analytics capabilities,” said Carol Byrne, Senior Director, Product Management at FICO. “FICO had a reputation for having the most functional solution, but it wasn’t affordable to smaller banks and credit unions. By rearchitecting our solutions to streamline integration and leveraging the Cloud, we can offer our ecosystem at a much more affordable cost, with faster and simpler implementation.”

Valor Intelligent Processing

“Valor has embraced the era of technology and is taking full advantage of it,” said Gordon C. Beck III, President and COO of Valor Intelligent Processing. “Through omni-channel communication capabilities such as consumer facing apps, chat bots and Gordon C. Beck III text messaging, we are not going into this timid and are willing to blaze a trail that helps encourage everyone to jump into this amazing landscape of opportunity.”

Virtual Agents

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Sentinel Development Solutions

“There are three things that I would point out as being representative of the innovation of eCollections, Sentinel’s collection Chris J. Roberts platform: 1. Multi-channel communication support, eCollections has many features which integrate email and texting into your business practices with capabilities like automated email and text campaigns to support things like payment reminders and self-service payment portals,” said Chris J. Roberts, President and COO of Sentinel Development Solutions. “2. Advanced automation, eCollections enables the creation of automated processes for virtually everything within the platform. 3. Built-in extensibility, a software architecture and framework that enables rapid extensibility (enhancements to the software) that do not limit future upgrades.”

Interactions

“The Interactions Virtual Agent has proven success across the complete debt lifecycle,” said Erin Stewart, Sales Director of Interactions.

“Unlike traditional self-service applications, Interactions uses Conversational AI and ML combined with real-time, human-assisted Erin Stewart understanding to engage in conversations with human-like accuracy. The improved accuracy, combined with unparalleled dialogue design, ensures effective talkoffs and scripts are used every time to increase customer experience and payment conversions, while significantly reducing agent minutes in your call center.”

Payment Savvy

“As a leading ARM payment processor, Payment Savvy always has our finger on the pulse of the latest technological innovations,” said Eli L. Smith, Chief Operating Officer of Payment Savvy. “Our Fee-Free Eli L. Smith Payments program has an open API, allowing us to seamlessly integrate with all of the leading collection software platforms. This solution not only allows for payments via the traditional collection methods - phone and web - but also progressive technologies such as IVR and Pay-by-Text. As always, our payment models are custom-built to create the perfect solution for an agency.

RECEIVABLES ADVISOR

COLLECT

TECH19 Register by September 3 0 to SAVE $400

NOVEMBER 18-20 | FORT WORTH, TEXAS

REGISTER ONLINE AT CollectTECH19.COM OR COMPLETE THIS FORM

NOW ONLY $895

Date Company Name Person Attending

1. TYPE OF COMPANY: [ ] Collection Agency (Consumer) [ ] Collection Agency (Commercial) [ ] Collection Attorney [ ] Credit Bureau [ ] Credit Grantor [ ] Debt Buyer [ ] Credit Card [ ] Government [ ] Other _______________________________

Title

Address City/State/Zip/Country Phone

Fax

Email

REGISTRATION COST Before 9/30

Before 10/31

Before 11/10

On-site

$895

$1095

$1195

$1295

Full conference registration includes: Full session attendance, breakfast, lunch, special events, conference program. [Team Discounts Available*]

*Team Discounts: Each additional person from the same company receives 50% off the full price conference price $647.50

PAYMENT METHOD [ ] Check Enclosed

[ ] Visa

[ ] MasterCard

[ ] AmEx

Card Number

Exp. Date

Name on Card

Security Code

[ ] Discover /

Billing Address (if different from above) Signature Attendee Number CC Confirmation

FAST & EASY REGISTRATION ONLINE CollectTECH19.com FAX this form to 817.756.7252 CALL 888.610.1144 MAIL this registration form to “CollectTECH19 - PO Box 92342 Southlake, TX 76092” Make checks payable to Receivables Advisor CollectTECH19

Cancellation Policy: All cancellations must be received in writing. Cancellations received prior to May 30th, 2019 will receive a 100% refund.

Cancellations received prior to June 30th, 2019 will receive a 75% refund. Cancellations received by August 31st, 2019 will receive a 50% refund.

Cancellations after September 1st, 2019 will be non-refundable.

Hotel Accommodations: Receivables Advisor CollectTECH19 is to be held at the Worthington Renaissance Fort Worth Hotel, A Marriott Hotel.

Located in the heart of downtown within walking distance to Sundance Square. Receivables Advisor CollectTECH19 has a block of rooms with amazing rates. Rooms are available on a first-come, first-served basis. Please make your reservations by calling 817.870.1000. Rooms are limited for this event. Sign up now to insure the rate of $199.00. Rates can more than double when this block sells out.

2. INDUSTRY [ ] Auto Finance [ ] Bank/Credit Union [ ] 1st Party [ ] 3rd Party [ ] Medical [ ] Manufacturer [ ] Mortgage Lender [ ] Data Security [ ] Finance Company [ ] Utility [ ] Telecom [ ] Other _______________________________ 3. JOB DESCRIPTION (CHECK ONE) [ ] President/CEO/Owner [ ] CTO, CIO [ ] Vice President [ ] CFO/Controller [ ] Collection Mgr. [ ] COO [ ] Dir./Mgr. Operations [ ] Dir./Mgr. MIS [ ] Sales/Marketing [ ] Technical/MIS Staff [ ] Revenue Cycle Mgr. [ ] Director of Credit [ ] Attorney [ ] Other _______________________________ 4. PRODUCTS OF INTEREST (CHECK ALL THAT APPLY) [ ] Banking [ ] Collection Software [ ] Collection Support [ ] Insurance [ ] Electronic Payments [ ] Doc Management [ ] Estate Recoveries [ ] CMS [ ] In-house Collections [ ] IVR [ ] Mail Services [ ] AI [ ] Litigation/Legal [ ] Predictive Dialers [ ] Medical [ ] Analytics [ ] Skip Tracing [ ] Texting [ ] Other _____________________

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UNDER THE STARS

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NOVEMBER 19, 2019