Navigating the Future: How Chatbots Are Transforming Consumer Finance Amidst Evolving Regulations
The Evolving Role of Chatbots in Consumer Finance Many industries have undergone a significant transformation in the last few years since AI-driven chatbots became mainstream. These chatbots have revolutionized the way customers engage with businesses, from answering basic inquiries to offering personalized advice. The consumer finance industry is no exception, where customers request assistance from […]
How to Join EverChain’s Certified Agency Network
Guide to Joining EverChain’s Elite Collection Agency Network EverChain creates profitable partnerships specifically for the compliant and efficient collection of debt. To join EverChain’s Certified Agency Network, collection agencies must meet stringent requirements to ensure they operate legally and ethically. Here are the key requirements and procedures as outlined in the EverChain Agency Certification via […]
How to Sell Debt Compliantly: A Guide for Creditors
Sell Debt While Ensuring Security and Compliance In the current financial recovery landscape, the decision to sell debt to third-party buyers stands out as a strategic move for creditors looking to enhance their recovery strategies. However, the process to sell debt compliantly involves navigating through several complexities, including the selection of the right debt buyer […]
Revolutionizing Debt Resolution: EverChain Adding E-Signatures
Discover EverChain’s Coming E-Signature Feature At EverChain, we’ve been pioneering compliant and secure debt sales solutions for over a decade, always with a keen focus on enhancing recovery for both creditors and consumers. Today, we’re excited to preview a groundbreaking addition to our platform that’s set to transform the way you engage in debt resolution: […]
Facing the Storm: 2024’s Challenges for Credit Card Issuers
How Creditors Can Leverage Offset Rising Charge-offs and Delinquencies The coming year poses significant challenges for issuers of middle-market consumer credit cards, as highlighted in a recent American Banker article by Kate Fitzgerald. With an economy rebounding post-pandemic, many loans approved during the surge in spending and travel are now turning sour. Inflation continues to […]
Join EverChain at the 2024 RMAI Annual Conference: A Gateway to Industry Excellence
We’re thrilled to share that EverChain is not just attending but also sponsoring the RMAI Annual Conference happening this week in Las Vegas, from February 5–8, 2024. But let’s be real, calling it just an ‘event’ hardly does it justice. This is the place to be for anyone and everyone in the receivables management industry. […]
Debt Collectors Can Bolster Compliance Efforts with Account Monitoring Processes
The scenario presented in this recent ACA article highlights the complexities and legal ramifications debt collectors face when unknowingly contacting consumers who have declared bankruptcy. The court case, Carrasquillo v. CICA Collection Agency, Inc., illustrates how a debt collector was found to have unintentionally violated the automatic stay in bankruptcy because they weren’t informed of […]
Celebrating 6 Years of SOC 2 Type 2 Compliance: EverChain’s Dedication to Data Security
EverChain’s Dedication to Data Security Today, we’re proud to mark a significant milestone – six years of unwavering SOC 2 Type 2 compliance. It’s not just a badge of honor; it’s solid proof of our commitment to keeping your data safe and sound. Let’s dive into what this means and why it’s so important, especially […]
Webinar – Reviving Financial Resilience – TransUnion’s Recovery Model & Legal Strategies Unveiled
Reviving Financial Resilience RMAi recently presented a TransUnion-sponsored webinar titled “Reviving Financial Resilience: TransUnion’s Recovery Model and Legal Strategies Unveiled,” which focuses on TransUnion’s recovery model and legal strategies for debt collection. It highlighted using data to build predictive models, which replace manual reviews and provide empirical results. Key elements include credit, demographic, non-traditional credit, […]
Resuming Student Loan Payments Will Affect Consumer Credit Risk
Resuming Student Loan Payments Will Affect Consumer Credit Risk A recently released white paper from BCG and TransUnion explores the impact that resuming federal student loan payments will have on consumer credit markets and provides lenders with guidance to mitigate the increased risk. “How Resuming Student Loan Payments Will Affect Consumer Credit Risk” (November 2023), […]
