The ongoing impacts of the COVID-19 crisis have rapidly reshaped consumer and borrower behavior, with 60% of consumers now having higher expectations for their customer experience. This change, combined with recent and upcoming regulatory changes, have forever impacted the collections landscape. Businesses and agencies looking to enhance their existing collections strategies can do so — while reducing costs, avoiding reputational damage and fines, and improving overall engagement — by following a few simple steps. Learn more in this tip sheet.

The current economic situation has inadvertently affected the collections industry. Faced with new regulatory rules, changing consumer demands and an expected uptick in collections volumes post-deferment, debt collection departments and agencies must adapt to keep up with the fast-moving landscape. In our latest webinar, Experian experts discuss the state of the market, collections challenges and how you can adapt in a post-pandemic world.

In the third session of Experian's Energy Symposium Series, our expert speakers discuss how energy providers can evolve and refine collections and recovery processes to minimize the strain on call center agents, improve the customer experience and prepare for the backlog of payments, calls and inquiries in the wake of the pandemic.

The COVID-19 pandemic has created unprecedented challenges for the collections industry, including new regulatory rules, changing consumer demands and a potential uptick in activity as forbearances and deferments fall off. Will your current collections and recovery processes be enough to keep up?