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Tech Lock Certified Monday, July 24, 2017

Private Lenders

ACSI understands the environment in which private lenders must manage their accounts receivable and has the experience and expertise to assist them in meeting their recovery goals.

Educational loans issued by private lenders differ significantly from loans guaranteed by the federal government because private lenders do not have access to the various government-sponsored programs or enforcement options to resolve delinquent education loans. Thus, private lenders have different needs for managing their education loan portfolios. ACSI meets the needs of private lenders through comprehensive and customized private lender-specific recovery programs that balance a targeted and consistent recovery process. These include:

  • ACSI is reinventing the industry standard for collecting debts by making a paradigm shift from the old “dunning” model of incessant, repeat contacts and aggressive conduct to a more helpful and consumer-based service model of collections. This is augmented by technology and key tools like our free consumer financial education program offering.
  • ACSI concentrates its efforts on individual client needs and requirements, not a one-size-fits-all service or approach. ACSI also has a track record of adapting to changing client and customer service needs, including structural responses to new regulatory requirements and economic shifts.
  • ACSI values professional affiliations and memberships and regularly contributes and participates in both regional and national conferences and trade shows as well as online webinars and discussion forums. We also place great emphasis and credibility on obtaining certifications, not only those issued by accredited professional associations, but also those requiring independent third-party audit and verification.
  • ACSI’s organizational structure reflects our clients’ needs and matches the relevant experience and skills of our personnel to the responsibilities required to meet and exceed the expectations of our clients. We are also diligent in connecting the right team abilities and proficiencies to specific client portfolio needs and their borrowers’ demographics.
  • ACSI’s facilities are designed to promote team collaboration and cooperation, produce efficiencies and effectiveness, and generate higher productivity and performance results. Our facilities are also located near large labor pools of qualified U.S. workers, are ergonomically practical, ecological- and employee-friendly, and allow us to maintain flexible and overlapping schedules to cover the various U.S. time zones.
  • ACSI’s commitment to our clients is centered on the tenets of dedication, accountability, and reliability in generous-enough quantities that justify the confidence our clients have in us to provide a consistently high level of service and nourish a positive feedback loop on both sides of the relationship.
  • ACSI’s culture reflects our company’s values; encourages best-in-class performance; and rewards loyalty, resourcefulness, and innovation. We seriously guard our culture because we differentiate ourselves from our peers through it. More importantly, our culture bonds all ACSI stakeholders to unify our drive to deliver that extra edge to our clients.
  • ACSI’s executives and managers have all spent time working in front-line collection positions. This hands-on experience enables them to guide ACSI personnel from a position of knowledge and under-standing, influence by example, motivate through leadership, and reward performance via compensation and advancement.
  • The collection industry has entered a new era of regulatory oversight, compliance, and monitoring via various federal security regulations, the Dodd-Frank Act legislation, and the creation of the Consumer Finance Protection Bureau (CFPB). These legislative mandates require collection agencies to implement changes in order to be compliant within this new environment. ACSI has embraced these changes as an industry leader. Thus, we have implemented new technology, such as real-time voice analytics to complement all recording of calls, an independent, toll-free Consumer Hotline that is separate from our collection operations, and a proprietary skiptracing tool to avoid wrong or repeat party contacts to ensure that ACSI is a positive representative for our clients while generating very few complaints and/or lawsuits.
  • We maintain adherence to federal, state, and local regulatory standards through training and call recording and monitoring to ensure compliance with all of the laws and regulations governing the debt collection industry. We also use voice analytics to mitigate potential non-compliance or substandard conduct in real time and avoid any ramifications that might occur as a result.
  • We take our responsibility for guarding our clients’ data very seriously; it is paramount for our clients who must maintain compliance with all regulatory requirements. ACSI ensures the protection of all confidential non-public data as a TECH LOCK® Certified Service Provider, the industry standard for federal and state security compliance, and our own internal security programs.