The third-party debt collection industry is at a crossroads: Either modernize and adopt a consumer-centric approach or continue to face headwinds. While third-party collectors may find obstacles along the road ahead, there are also opportunities — if you know where to look.Join TransUnion’s Javier Alvarado for a deep dive into our first-ever annual report focusing exclusively on third-party debt collection: The State of Third-Party Collections 2019: Challenges, Trends and InnovationsKey takeaways include:• How compliance and regulation has made it tough to innovate.• Brace yourself: The biggest expense for firms is expected to grow.• The new, more effective consumer communication channels collectors are exploring as they await guidelines from the CFPB.
• Skip tracing? Batching? Speech analytics? The technologies forward-thinking agencies are deploying.