Tue.Jan 21, 2025

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AI, Automation, and Innovation: The Future of Collection in 2025

Account Recovery

The credit and collection industry is facing a rapidly evolving landscape shaped by digital transformation, economic shifts, and regulatory changes. As 2025 progresses, understanding these trends can help industry professionals optimize their strategies and stay ahead of the curve. 1. The Rise of the Orchestration Economy The big picture: The debt collection industry is witnessing a shift from fragmented, app-based ecosystems to integrated orchestration platforms.

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Merchant Onboarding Made Easy: Tips to Get Set Up Fast

PDC Flow

Do you know what the merchant onboarding process entails for starting payment processing with a new SaaS vendor? Understanding how to set up a merchant account is essential to saving time, avoiding frustration, and ensuring a smooth transition to accepting payments. Here are the basic considerations for companies setting up a new merchant account. Merchant Onboarding Paperwork The merchant onboarding process can move quickly if your business is in good standing and all required documentation is

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Collector Facing FDCPA Lawsuit After Sending Letter to Collect on Fraudulent Debt

Account Recovery

EDITORS NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call (855) WEB-RECON or email admin@webrecon.net today!

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Q4 Industry Insights: Looking Good on Paper, Feeling Bad in Wallets, Everyone’s Uncertain on Financial Outlook

True Accord

Looking at key economic indicatorsGDP growth, consumer spending, softening inflation and a healthy job marketit would be easy to deduce that consumers in America are faring well. But digging deeper reveals unwieldy debt, expected rises in charge-offs and uncertainty around future economic conditions, painting a less rosy picture of the financial situation.

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

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CFPB Orders Honda Finance to Pay $12.8M for Credit Reporting Violations

Account Recovery

In the run-up to the end of the Biden Administration last week, the Consumer Financial Protection Bureau announced an enforcement action with American Honda Finance Corp. that will see the auto finance giant pay $12.8 million in penalties and consumer redress for inaccurately reporting information to credit reporting agencies, impacting 300,000 consumers.

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Daily Digest – January 21. Collector Facing FDCPA Lawsuit After Sending Letter to Collect on Fraudulent Debt; Trump Institutes Regulatory Freeze on Day One in Office

Account Recovery

Collector Facing FDCPA Lawsuit After Sending Letter to Collect on Fraudulent Debt Trump Institutes Regulatory Freeze on Day One in Office CFPB Orders Honda Finance to Pay $12.8M for Credit Reporting Violations AI, Automation, and Innovation: The Future of Collection in 2025 WORTH NOTING: How to keep people from being able to read your text messages … President Trump is ordering all federal workers back to the office … The hottest travel destinations inside the United States in 2025 &

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Trump Institutes Regulatory Freeze on Day One in Office

Account Recovery

On his first day in office, President Trump hit the pause button on a number of fronts, including issuing executive orders implementing a hiring freeze within the federal government and a freeze on issuing new regulations, among others. The freeze on new regulations is designed to put a stop to any orders that were issued while President Biden was in office, including rules that were sent to the Federal Register but have not yet been published and any released rules that have been issued but are