Featured Article

Immediate Collection Strategy Solutions for the Impacts of COVID-19

As many of us know, when delinquency and losses rise, especially at this speed and to this degree, companies have to make significant strategic decisions. Based on conversations with leaders and a look at various forecasts, I predict the first light wave of delinquent and impacted customers will flow through to charge-off beginning in September. This is significant because you will have pandemic-related delinquency in every single bucket, on top of the pre-COVID-19 delinquency that already existed and has likely only gotten riskier.  Companies will need to take immediate action to be prepared for when peak pre and post-charge-off delinquency levels hit the system. In this article, I walk through what I anticipate to be the top collection strategy priorities for the remainder of the year.

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Highlight - Free Strategy Webinar Tomorrow

Don't miss the first in our new webinar series called, "Leading Strategically through the Recovery." It starts tomorrow, April 22 at 1 PM EDT. The first in the digital roundtable series will set the stage by painting a picture of how impacted consumers are likely to flow through delinquency, highlighting what will be on our industry's mind as we ready ourselves for each phase of this substantial and rapid growth in delinquency. Led by Amy Perkins, President of insideARM and a former head of collection strategy for a major bank. Register here for tomorrow's webinar. It's free!

Thanks to LiveVox for their generosity - they are sponsoring the series.

Leading Strategically Through Recovery: An insideARM webinar series

• The Industry Outlook (4/22)
• The Impacts of COVID-19 on Existing Segmentation Strategies (4/28)
  
• Delivering Timely Customer Support in the Face of Rising Demand and Capacity Constraints (5/6)
• The Increasing Need for Free Credit Counseling as Customers Face Massive Financial Impact (5/7)
  
• The Role Crisis Can Play in Accelerating Innovation and Adoption (5/13)

iA Strategy & Tech Session Highlight

Post COVID-19 Approaches to Risk Differentiation, Referral Programs and Contact Strategies

Post COVID-19, solid scoring, prioritization and account segmentation will be of increasing importance. This session will help paint a compelling picture of the new normal and help you source and analyze the consumer risk data you need to identify which accounts to work first, second, third, etc. This session will be led by authors of the March 2020 whitepaper, "Winning in the Next Era of Collections," published by 2nd Order Solutions and the Boston Consulting Group.