The Debt Collection Agencies market (DCAs) and contingency collections business has had a challenging business model the last few years.
Key to managing debt portfolios, whether it be early collections or late stage recoveries, is a suitable system of record to effectively manage, maintain, and process accounts and transactions. This includes the processing of payments, calculation of fees and interest, together with contact strategy capability, all in compliance with regulations and individual client policies.
Additional regulation, especially in financial services, has added additional cost of compliance resulting in consolidation to create economies of scale.