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Optimization Strategies to Improve Collections

October 14, 2021
Byron Gifford
Scott Albahary

Some organizations expect an increase in consumer delinquencies when pandemic-related moratoriums and financial aid programs end.

Get to know the steps that banks, credit unions, and other organizations involved in collections can take to increase payment rates and reduce charge-offs, including:

  • A unified vision and team that has traceable goals, which link to rewards and company expectations
  • A workflow design that promotes agent adaptability and provides them with ongoing enhancement training to maintain performance edge
  • Messaging and scripting geared towards customers who express interest in support and relief
  • Reengineered processes based on best practices and innovation