ARM 3rd Party
Your 6-Step Guide to Collecting Paper Free Under Regulation F
One of the most challenging sections of Regulation F (also referred to as the CFPB new rules for debt collection) is Section 1006.42 regarding required disclosures. This section details how disclosures required under the Fair Debt Collection Practices Act (FDCPA) and Regulation F must be provided to consumers as part of the debt collection process. Essentially, this…
Read More7 Reasons Why Explainable AI Is Both Essential and Safe for ARM Agencies
Artificial intelligence (AI) is generating a lot of interest in the accounts receivable management (ARM) industry. It’s also raising concerns about potential liability. ARM leaders recognize the benefits AI can bring, but they’re hesitant to take that big leap into the unknown. Yes, the typical “black box” AI approach is unknown, and unknowable, to most…
Read MoreWith Finvi Payments Solution, Agency Sees 2x Faster Funding, Surging Productivity, and No More Underwriting
Since joining Accelerated Receivables Solutions (ARS) in 2004, CFO Alan DeHaven had worked with a variety of payment processing vendors. He was accustomed to multiday funding delays, cumbersome underwriting, and other burdens and complexities associated with multivendor payment processing. Then DeHaven switched to the Finvi Payment Solution and saw big changes right away. Implementation was…
Read MoreDynamic Scoring Using ‘Explainable’ AI in Accounts Receivable: How Could Your Agency Benefit?
You’ve heard AI can improve collections workflow. But not all AI machine learning technologies for the accounts receivable management (ARM) industry are alike. There’s AI in accounts receivable, and then there’s dynamic scoring using “explainable” AI (xAI)—a true industry breakthrough. Unlike static account scoring that updates only periodically, dynamic scoring draws upon a wide array…
Read MoreFacebook, Inc. v. Duguid: What Does It Mean for Your Dialer and Express Consent?
Unless you completely disconnected from the internet this week, you’ve likely been inundated with dozens of blogs about the U.S. Supreme Court’s 9-0 holding in Facebook, Inc. v. Duguid, 19-511 Facebook, Inc. v. Duguid (04/01/2021) (supremecourt.gov). In this case, the U.S. Supreme Court held: To qualify as an “automatic telephone dialing system” under the Telephone Consumer Protection…
Read MoreCFPB New Rules 2021: Your Top 5 Priorities From Now Till Year End
The Fair Debt Collection Practices Act (FDCPA) has been in place since 1977, but the new CFPB debt collection rules mark a major turning point. This is the first time in the history of debt collection in the U.S. that we’ve had a regulatory body create rules to interpret the FDCPA. The CFPB new rules have big…
Read MoreCallers, Start Your Engines: Reassigned Number Database is Revving Up
As of July 27, 2020, the Consumer and Governmental Affairs Bureau (CGB) set into motion the established guidelines for operation of the FCC’s Reassigned Numbers Database. This is good news for the ARM industry, as we’re now one step closer to having a crucial tool in hand that can help simplify the process of managing consent…
Read More“Too Good to be True” – Unfortunately, it’s the Case with the FCC’s New Reassigned Number Database
If you are like me, you cheered when you read the Federal Communications Commission (FCC) is coming out with a reassigned mobile phone number database. Visions of daily scrubs against a free public database of mobile phone numbers supported by carriers across the land, danced in my head. But alas, such is not the case. Although the…
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