AI vs. Human Collectors: New Research Reveals Surprising Results
- A new study on artificial intelligence in debt collection reveals that AI-driven calls are consistently less effective than human callers at persuading delinquent borrowers to repay, especially over the long run. While AI offers clear cost advantages by reducing staffing needs, its apparent inability to create the same sense of moral obligation or urgency poses a strategic challenge for collection agencies, fintechs, and financial institutions alike.
- More details here
State Appeals Court Affirms Ruling in High-Profile FCRA Case
- In a case that has made its way across the country and up and down the legal ladder — including a stop at the Supreme Court in a case that is cited daily in today’s collection world — an Illinois state Appeals Court has affirmed the ruling of a lower court in a Fair Credit Reporting Act case.
- More details here
Court Dismisses FDCPA Class Action Over Confusion About SOL Disclosure in Letter
- A District Court judge in New York has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act class action on the grounds that confusion over whether interest was accruing on a debt after reading a statute of limitations disclosure in a collection letter is not enough for the plaintiff to have standing to sue.
- More details here
25 Companies Seeking Collection Talent
- Regardless of where you are on the corporate ladder, there is likely something of interest among the postings in this week’s job listings summary. Or even if you are happy where you are right now, the summary is an opportunity for research into who’s hiring, how much they are paying, and how they are attracting candidates.
- More details here
WORTH NOTING: What to do if you are caught driving when really bad weather strikes … Not quite on my list as someone who couldn’t make a bad movie, but he was pretty close … A lot of parents are supporting adult children financially … How much you need to make in order to be able to afford to buy a home in America today … My takeaway from this is that how are 10% of people still using AOL for their email? … Tinder will let you practice your pick-up lines on a bot before trying them out on a human … The two things to keep in mind before asking for a raise at work … Tips for buyers and sellers in today’s real estate market.
Wisdom Wednesday, part I
Wisdom Wednesday, part II
The Daily Digest is sponsored by TCN. Today, contact centers need to do more with less. TCN’s cloud-based predictive dialing tools and services help clients to leverage the most sophisticated inbound, outbound, and blended calling technologies available. TCN’s award-winning platform offers multiple features to assist in compliance while improving performance with no hardware, no monthly minimums, or maintenance fees. Call 866-745-1900 or visit tcn.com today.
