COVID-era collections systems and people have had to pivot rapidly to cope with customer hardships, a flurry of regulations designed to help them, and a massive increase in contact center calls from anxious, frustrated consumers.
Those able to pivot have fared well in terms of customer satisfaction and cooperation. Those that haven’t either are out of business, or dealing with customers fed up with everything from inaccurate, incomplete and conflicting information to dropped calls. As a loan servicing company, we’ve successfully pivoted to address contact center, regulatory, compliance and security challenges simultaneously. Concord President Shaun O’Neill discusses the relevant issues in a recent Development Magazine article.
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