This talk will elaborate on the concept of matching your communications to your borrowers’ personalities and situations to achieve maximum response rates and conversion. We will discuss how to defuse emotional responses to keep your customer focused on your message, the factors that influence consumer decision-making and how to leverage your knowledge of customer segments to tailor your message. We will also review behavioral sciences-based research methods to illustrate how to test the application of these concepts.

Lenders have long known that there are advantages to managing consumer credit relationships at the customer level instead of the account level, since more comprehensive information enables better decisions. As banks grew, product-focused business lines became centralized, however, customer actions were more likely to be driven at a product level. Just prior to the credit crisis there was a lot of talk and some effort at larger lenders toward customer-centric collections efforts, then such efforts were largely put on hold because the focus had moved to short term survival. Now that lenders have moved beyond the survival mode, they are likely to re-evaluate the value that customer-centric treatment could provide across the entire customer lifecycle. Bridgeforce along with Collections and Risk executives from leading banks that have managed customer-centric collections strategies and operations will explore the opportunities and challenges that this approach presents in comparison to a more traditional product-centric collections approach.

The financial crisis has shined a spotlight on mortgage servicing. What are the remaining challenges that lie ahead for servicers and in the aftermath, what will become normal? New regulations, compensation structure, borrower behavior and the like will provide opportunities and challenges for the future of mortgage servicing.

Today, organizations face unprecedented levels of delinquency, default and credit losses. They need rapidly deployable solutions that support changing business goals and enhance their bottom line. Find out how DFS augmented their existing collections operation with best-in-class technology and business process services to improve collections effectiveness and efficiencies while increasing customer satisfaction. The company will discuss what drove them to transform their collections operations, how it has impacted their strategies and processes, and how other organizations can benefit from a similar collections model.