Diversity & Inclusion at TrueAccord

By on October 16th, 2018 in Industry Insights
TrueAccord Blog

How come every company hires the best people they can find, but some end up with a homogenous culture while others are diverse? It’s about how you seed and grow your culture.

Hear our Diversity, HR and Recruiting leaders talk about diversity, representation, and hiring diverse talent from day one.

Conversations With Customers

By on September 18th, 2018 in Industry Insights
TrueAccord Blog

Laura Beckerley discusses easy and difficult conversations with customers, and provides tips and ideas and how to diffuse difficult situations. Hear about her experience, how we engage, and what makes TrueAccord different – a customer facing brand through and through.

Creating Effective Quality Controls

By on September 11th, 2018 in Industry Insights
TrueAccord Blog

Working with major financial institutions has its upsides, but it also means a tight and very demanding quality framework. Our lead trainer, Quan Ngo, talks about tips and tricks for effective quality control in an ever changing environment.

Using Design to Empower Customers

By on September 4th, 2018 in Industry Insights
TrueAccord Blog

UX and design are important tools in TrueAccord’s tool box. Hear from our Product Design Manager, Shannon Brown, about how we design our product to empower customers and encourage positive actions.

Julie Hughes talking website design for collections

By on August 30th, 2018 in Industry Insights
TrueAccord Blog

Originally posted on Accounts Recovery.

A collection agency website has to be a lot of things to a lot of people. It should be a tool that the agency uses to attract new business from potential clients. It should be a tool to help individuals pay their debts. It can be a tool that individuals use to educate themselves about debt and finance. It can be a tool to attract new employees. And it all has to be done compliantly and while making sure the culture and values of the agency shine through to the person visiting the site for any of those reasons.

A panel of agency executives shared their strategies and the thought processes behind their company websites recently, revealing how they approach their sites to make sure they check as many of the boxes listed above as possible. During the webinar a number of great ideas were discussed.

To read more, click here.

Engaging with empathy: content strategy at TrueAccord

By on August 28th, 2018 in Industry Insights
TrueAccord Blog

Content is the life blood of our system. No matter the channel, the product, or the stage, content is what keeps our customers engaged, our performance high, and our compliance intact. Hear our manager of Content Strategy, Vivian Chau, talk about how we harness empathy to write effective content.

On Bloomberg: Using Machine Learning to Change Debt Collection

By on August 22nd, 2018 in Industry Insights
TrueAccord Blog

A San Francisco-based startup that uses algorithmic machine learning to study consumer behavior is trying to flip a decades-old model that banks and other creditors use for collecting debts.

Machine learning can help banks and other financial services companies preserve their relationships with customers in delinquency rather than sending them to collections and saying goodbye, Ohad Samet, CEO of TrueAccord Corp., said in an interview with Bloomberg Law.

Read more on Bloomberg.

TrueAccord’s 866 Number: our approach to calling

By on August 21st, 2018 in Industry Insights
TrueAccord Blog

You may have read our post, 866 is our number. In this podcast, our Director of Product Roger Lai talks about our customer facing decisions, how we think of our brand, and what it means for customer responsiveness and satisfaction.

Come meet us at DCS! Two sessions and many people on the ground…

By on August 15th, 2018 in Industry Insights
TrueAccord Blog

This year at DCS we’ll be moderating or presenting in two sessions.

Understanding What Consumers Want
The consumer market is shifting. Where each of us once had one landline at home, we now all have cell phones and lap tops. Communication preferences have shifted tremendously. Join a roundtable to hear from peers about identifying consumer needs and how to respond to them in an ever changing technology and regulatory environment.

Strategic Implementation of Machine Learning and AI in Your Collection Operations
Machine Learning and Artificial Intelligence hold a huge promise for the ARM industry. Are they all they are made out to be? Will AI be the job killer some fear it will be? Hear about strategies and tips for implementing ML and AI in a human decision-heavy market like ARM, how to integrate those technologies to create real leverage, and how to combine ML/AI with your collections staff.

Check out the sessions and email our team at sales@trueaccord.com if you want to meet.

Did New York State’s Stringent Rules Contribute to Increased Lawsuits?

By on August 9th, 2018 in Industry Insights
TrueAccord Blog

Crain’s New York writes about a surge in debt collection litigation in recent years. While the article conflates a few things such as regulatory rollback that started after lawsuits started coming back, and new lawsuits with one from 2006, we can’t help but wonder what’s driving the new increase in lawsuits filed in NYS.

One possible factor is the tight regulation over communication methods, introduced by the NYS’s Department of Financial Services. The DFS requires that collectors request express consent to email consumers, even if they initially provided their email to the creditor. NYS stands out in doing so, contrary to other states and what we believe will be the CFPB’s position. This approach to email renders digital communications 20 times less effective even though consumers often say it is their preferred method – much more than phone calls.

Between limited digital communications and the decline in phone call effectiveness, we can’t help but suspect this limited ability to contact consumers is leading lenders to resort to lawsuits. If indeed that is the case, it’s a cautionary tale of unintended consequences. Limiting consumer choices, not allowing access to digital channels, stops any possible innovation in the debt collection space – and that innovation is gravely needed to improve consumer protection and respond to consumer choice.