We know the secret of your success in collections
We have helped our client No Talk Payments, one of the largest, online Payday Loan companies in Canada, to dramatically increase their debt collection revenue and bottom line, using our white label, AI-driven collection technology and proven system.
Statistics show that the majority of consumers in Canada the U.S. react negatively to frequent calls from collectors, which often serve to alienate the consumer. In fact, the more calls that are made, the less likely that debt will be recovered.
That's why today's collection industry has such bad publicity, compliance violations, and a poor recovery ratio record.
Studies have shown that credit-card customers by a large percentage prefer to be contacted by email and text. No Talk Payments provides stress free, convenient communications, and payment option flexibility. The consumer is in the driver's seat, during their debt negotiation
Consumers often feel nervous when they receive calls from Traditional collectors, and under pressure to make payment commitments they may have trouble honouring later. Needless to say, pressure doesn’t ensure the payment of a debt. Plus the options collectors provide on the phone are often limited, and targeted to the collection companies agenda, rather than the ability of the consumer to pay, and their preferences.
The debtor may also doubt the security of the payment options offered, and may grow nervous when hearing the lengthy legal disclosures collectors are required to say on the phone. But with No Talk Payments all the compliance requirements are built into the solution, and the entire debt negotiation system has been designed to be user-friendly and empower the consumer to feel good about their experience, and positive about settlement of their debts.
And because No Talk Payments service is working for our clients 24/7, it frees collectors to focus on more challenging delinquent accounts, rather than wasting time calling consumers who respond positively to the digital debt payment experience. Collectors can also assess the status of each debtor quickly, with reports on chosen payment options, daily instalments, unique logins, and a host of report data available on our system.