Accounts Recovery's Blog – October 2008 Archive (11)

Electronic Cash Tool Targets Collection Industry

Financial services company Green Dot may have been founded in 1999, but it is just now targeting the collection space with its product MoneyPak.

To get a sense for what the product is all about, I sat in on a Green Dot session, which took place at the Financial Services Collection Conference last week in Las Vegas.

Here is the deal: Geared to consumers who are unbanked or underbanked, MoneyPak lets you convert… Continue

Added by Accounts Recovery on October 28, 2008 at 12:01pm — 1 Comment

Multiple Channels Assist Collectors’ Collections

LAS VEGAS — Using multiple channels, especially virtual ones, to collect debt is essential in these trying economic times.

So said speakers and attendees at the Financial Services Collections Conference held last week in Las Vegas. (Although the somber attitude lingering in the air made it hard to believe that offering more channels is enough to keep all agencies financially afloat.)

It is crucial to offer multiple channels because debtors like communication options,… Continue

Added by Accounts Recovery on October 28, 2008 at 12:00pm — 1 Comment

FDCPA Reform Pegged Top Industry Issue by ACA

Reform of the Fair Debt Collections Practices Act was named the industry's No. 1 issue by ACA International at last week's Financial Services Collections Conference in Las Vegas. The statue, added in 1978, is in need of some updates that would modernize communication laws such as resolving wireless portability issues.

In all, ACA cited six issues as industry agenda items. Here is the breakdown of the ACA's agenda, in order of importance:

1. FDCPA reform

2. Telephone… Continue

Added by Accounts Recovery on October 27, 2008 at 9:30am — No Comments

FTC to Investigate Legal Implications of Collection Technology

The Federal Trade Commission is investigating collection technology as it relates to the Fair Debt Collection Practices Act, revealed Peggy Twohig, Associate Director of the FTC’s Division of Financial Practices, in her presentation at NARCA’s annual fall conference.

The FDCPA has not kept pace with technology’s advances, she said, noting that is the reason the FTC has started investigating these types of technology issues.

NARCA’s annual fall conference took place last… Continue

Added by Accounts Recovery on October 21, 2008 at 12:00pm — 1 Comment

Exclusive: The Top Seven CollectionTechnology Agencies in the Nation

From small to large, old to young, we spotlight seven agencies that are ahead of the pack because of their innovative use of technology. What separates these top agencies is they avidly update and implement new technologies, critical for maximizing collections in these trying economic times. We have based the Top CollectionTechnology Agencies Awards on each agency's technology practices and innovations, and used recommendations from industry participants, vendors, and consultants in determining… Continue

Added by Accounts Recovery on October 20, 2008 at 10:00am — 2 Comments

Exclusive: Will the Intelligent Mail Barcode Save You Money?

The practice of sending out collection letters to debtors usually means a lot of returned mail. And as postage rates continue to rise, many companies in the A/R industry are expecting increasing costs to impact their bottom lines. “It used to be that phones were the greatest expense, and now postage is one of the biggest ones,” Rich Turner, vice president of sales and marketing at Dantom Systems Inc., says.

In light of this trend, companies are looking to find ways to save money by… Continue

Added by Accounts Recovery on October 20, 2008 at 10:00am — 3 Comments

Exclusive: Healthcare Providers Mimic Retailers to Buoy Revenue

As deductibles and co-pays keep on getting higher, healthcare providers are taking a cue from retailers’ approach to revenue: customers must immediately pay for services rendered.

For the last several years, the Health Alliance of Greater Cincinnati has been using technology to keep its revenue cycle flowing. Using both an estimating tool to increase point-of-service payments and a pre-collections team to try to collect money before performing service, the alliance is seeing a boost… Continue

Added by Accounts Recovery on October 20, 2008 at 10:00am — No Comments

Western Union Pilots Bill Pay Service for Banking

Western Union is in the production pilot stages of delivering a real-time payment processing solution for online banking, confirmed Steven Kramer, vice president of electronic payments at Western Union. The system is on schedule to be rolled out late in the first quarter of 2009, Kramer says. Western Union’s solution aims to eliminate a common problem with online bill payment systems: delayed processing of payments. In some cases, Kramer says, companies that process online bill payments for… Continue

Added by Accounts Recovery on October 16, 2008 at 8:30am — No Comments

Finovate Presenters Put Community Into Focus

Learning from one another was the theme of Finovate 2008.

Held yesterday in New York, the conference boasted 24 companies that demoed their latest offerings in seven-minute presentations. (Finovate isn’t kidding about the seven-minute demo limitation either. Microphones get muted; jazz music takes over.) The feel of the show reminded me of a magic show crossed with a speed dating event.

Attendance seemed strong and attention was acute, but that doesn’t mean all attendees… Continue

Added by Accounts Recovery on October 15, 2008 at 3:54pm — No Comments

Google’s Chrome Raises Security Issues, Analyst Warns

Chrome, the new web browser from Google, could pose IT dangers.

So said Robert Ayoub, industry manager with the Frost & Sullivan North America Information and Communication Technologies Practice, in a webinar earlier today. Here is why:

Google built Chrome, in part, to enable Google web applications to run faster. Google’s attempt to become both a data center and an enterprise application provider raises security questions, he says.

Although Google… Continue

Added by Accounts Recovery on October 2, 2008 at 4:30pm — 7 Comments

WSJ Announces 2008 Technology Innovation Winners

The Wall Street Journal announced its 2008 technology innovation awards. To see who made it to the top of the list, click here. To watch a video that addresses innovation, click here.

Added by Accounts Recovery on October 1, 2008 at 2:30pm — No Comments

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