Collections Solution

Risk management and proactive collections have become critical functions for lenders to stay afloat in today’s uncertain economic times. Soaring costs, the ongoing credit crunch and the rise in consumer debt have consumers underwater. While at the same time, the growing trend towards mobile communications has made traditional contact methods obsolete, forcing creditors to re-examine their collections strategies.

Faced with a weak economy and multiple credit products, financial institutions must accelerate the collections cycle and challenge conventional wisdom to maintain liquidity. Adopting an interactive, multi-channel proactive customer communications strategy can increase response rates and accelerate payments from borrowers.

SoundBite has deep domain expertise across all types and stages of debt including mortgage lending, automotive finance, credit cards and student lending. Our sophisticated collections strategies embrace our product innovation and best practices in message scripting and multi-channel escalation strategies, optimization techniques and regulatory compliance.

Ability to communicate with millions of customers around the world using multiple languages and dialects
Seamless escalation across voice, text and email messaging to reach late payers
Free-to-End-User Text Messaging that gets delinquent customers to respond quickly
Interactive, automated communications that reduce costs and deliver results

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Collections Solution

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