Podcast ¦ Collecting Thoughts: Omnichannel Communication in Collections

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Key Takeaways from the Podcast on the Financial Services Industry During COVID-19:

The COVID-19 pandemic necessitated significant workforce changes within the financial services industry, leading organizations to adapt to remote work environments.
The implementation of Regulation F has driven organizations to digitize their communication channels, resulting in enhanced engagement with consumers.
During the pandemic, consumers used stimulus checks to pay down debts, demonstrating responsible financial behavior.
Effective omni-channel communication strategies in collections require purposeful messaging, clear call-to-actions, and thoughtful channel selection.
It is advised that organizations focus on the gradual introduction of new channels such as text and email, to prevent overwhelming consumers.
Success in omni-channel communication is evidenced by organizations taking initial steps in sending digital messages and progressively refining their ...

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