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Advanced Collection Tools

Today's advanced collection tools act as "people multipliers" by automating manual processes and using AI to increase collection rates and reduce operational costs.

In today's competitive receivables industry, technology is playing an increasingly crucial role in maintaining profitability and managing the ever-changing compliance and consumer-driven landscape. Learn how technology is being used to help the first and third-party ARM industry connect, collect, and comply more effectively and with greater efficiency through the power of machine learning and real-time data analysis. We'll share how the industry's most advanced collection tools are using data from consumer interactions to improve the performance of their agents and connect and collect from consumers through their preferred channel.

59 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

How Consumerism Influences Consumer Behavior and Drives Collection Innovation

The Role AI and Machine Learning Are Playing in the Collection Contact Center Environment

  • Cloud-Based Telephony Software (Dialers)
  • Speech Analytics
  • Machine Learning

The Advanced Collection Tools Toolbox: Voice

  • Speech Analytics
  • Big Data
  • Omni-Channel Communication

The Advanced Collection Tools Toolbox: Consumer Portals

  • Self-Resolution
  • Digital Campaigns
  • Automated Compliance Engine

Advanced Regulation F Compliance Tools

  • Tracking and Managing Contacts and Communications
  • Tracking and Managing Consumer Consent
  • Future Proofing Reg F Compliance
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on November 18, 2021.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.0
     
  • CA MCLE 1.0
     
  • CT CLE 1.0
     
  • HI CLE 1.0
     
  • NJ CLE 1.2
     
  • VT CLE 1.0
     
  • WA CLE 1.0
     
  • WV MCLE 1.2
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Michael Wise

Michael Wise

Intelligent Contacts, Inc.

  • Chief Marketing & Strategy Officer at Intelligent Contacts, Inc.
  • Researcher and Author, How Higher Out-Of-Pocket Costs Are Changing Healthcare’s Revenue Cycle, and Communication and Payment Preferences of Consumers With Past Due Debt
  • Author of multiple industry whitepapers and case studies focused on accounts receivable technology
  • Advanced Certifications in Digital Messaging Campaigns and Google Analytics
  • Over 4 years as a subject matter specialist in communication and payment technology designed for the ARM and health care industries
  • Memberships: ACA International, HFMA, RMAi
  • Bachelor’s degree in media studies, University of Houston
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 409202
Published 2021
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