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Tech Lock Certified Tuesday, February 21, 2017

Technology

ACSI’s technologies are customized to meet each client’s
needs and evolve to continuously integrate innovation,
regulatory changes, and ongoing client goals.

Like most industries, technology has done much to revolutionize how collection agencies operate. ACSI’s technology includes:

  • Collection System - Unlike commonly used legacy systems or different system components from various vendors pieced together, ACSI’s collection system, AJILITY (Columbia Ultimate’s newest collection solution) is a robust end-to-end receivables management system that was designed to automate the debt collection process and features advanced efficiencies in client portfolio and consumer account management, collection workflows, consumer contact management, data entry, client and consumer service support, client remote access and collaboration, and extensive reporting. The system also includes several other identifying features unique to collection agency needs, including personalized screens, personalized collection menus, electronic payment integration, letter integration, standard and ad hoc report writing interface, collated client remittance reports, direct e-mail/fax capabilities, integrated credit bureau access, credit bureau listing, extensive consumer search options, multiple responsible party options, personalized information windows, flexible permission controls, data logging and history screens, and trust accounting and operating funds tracking. In addition, AJILITY features a user-friendly client account status dashboard, pulls in complaints received by the CFPB on a daily basis for review and analysis, and utilizes eBureau analytics to not only perform front-end account data scrubbing against eBureau’s proprietary information database models, but also to identify missed collection opportunities. The latter is extremely important to ACSI and its clients as we work together to maximize portfolio performance results.
  • Proprietary Skiptracing Tool - ACSI has developed and deployed a new, proprietary skiptracing tool, Scout, that enables ACSI to not only locate consumers more quickly and efficiently, but also locate hard-to-find consumers that may have been previously deemed unlocatable by other collection agencies. Scout is basically the collectors' interface to the available skiptracing information already obtained via portfolio sweeps and the portal through which they make individual skiptracing information requests. Recovery Agents can also conduct skiptracing searches through information sources Scout has not scoured; however, every information search they do is documented by Scout and recorded in the AJILITY collection system. This is important because Scout prevents the Recovery Agents from duplicating information searches/requests and making duplicate phone calls. Phone calls are part of the information acquisition process, e.g., a Recovery Agent can call a Nearby or some other source one time but cannot call that same number again. This is a huge benefit in the context of lawsuits, complaints, and CFPB compliance.
  • Call Recording and Voice Analytics - The collection industry is entering a new era of regulatory oversight, compliance, and monitoring via the Dodd-Frank Act and the creation of the Consumer Finance Protection Bureau (CFPB). The legislation and mandates charged to the CFPB require collection agencies to implement changes in order to be compliant within this new environment. ACSI has embraced these changes as an industry leader and has implemented a new telephone system and, in conjunction, upgrades to our telephone recording systems. These upgrades have added significant enhancements over our current system, including real-time voice analytics to supplement our total inbound and outbound call recording system. Employing this new, advanced technology enables ACSI to monitor, our telephone calls with consumers for compliance with regulatory requirements or any adverse situation. Very few collection agencies in the U.S. have this capability because most collection agencies adapt to change when they have to rather than embrace it upfront when it is new. These new technologies assure our clients that ACSI is protecting their interests not only from a compliance point of view but also from a liability and administrative perspective. We also view this technology as a key training tool for educating new personnel and for ensuring experienced personnel continue to adhere to the time-tested and respectful communication techniques that ACSI has championed.
  • Online-Hosted Avatar Payment Website - Consumers who reach this page will be greeted by an Avatar, a virtual agent that will guide consumers through the online payment resolution process. Consumers will also have the option of being transferred to a live Recovery Agent during normal business hours. Once consumers enter their identifying account information, they will be presented with the available pre-programmed payment options specific to the client to whom they owe their debts. All pre-programmed payment options will be approved by ACSI clients prior to implementation. The Avatar is a convenient online solution that offers several advantages:
    • Is available 24/7/365 and speaks English and Spanish
    • Provides consumers with a user-friendly alternative online payment option via ACH or credit/debit cards
    • Allows consumers to set up payment arrangements (single and/or recurring) based on specific client payment guidelines
    • Complies with all federal and state laws and regulations, including the FDCPA
    • Prompts consumers to update their demographic information
  • Custom Client Websites - ACSI is in the final stage of deploying a custom, client-specific website capability. The main page of each client-specific website will welcome consumers and summarize the client’s background. Because this page is branded with the client name and information, it will require approval by the client prior to implementation. Consumers will be able to choose to make online payments from the custom client website as well and will be routed to the Avatar payment website to make their online payments.