“How To Achieve Optimal Revenue Recovery While Remaining ... · “How To Achieve Optimal Revenue Recovery While Remaining TCPA and FDCPA Compliant ... “How To Achieve Optimal

Proprietary & Confidential, Speech Analytics Inc.

We will begin our Webinar at approximately 1:01 PM EST

“How To Achieve Optimal Revenue Recovery While Remaining TCPA and FDCPA Compliant

in Uncertain Times with Interaction Analytics”


Educational Webinar is brought to you by

www.EngagementOptimization.com


Today’s Educational Webinar “How To Achieve Optimal Revenue Recovery While Remaining TCPA and FDCPA Compliant in Uncertain Times with Interaction Analytics” is sponsored by the following partners:


Webinar Logistics

• This webcast is a listen only presentation. If you would like to ask a question, please use the questions panel in the GotoWebcast side bar widget as shown and we will try to answer all of your questions during the Q&A segment of the presentation.

• The Webcast will be recorded and available 48 hours after presentation at www.callminer.com under our Learning Center page.

• The presentation deck is available now or at the conclusion of today’s webinar under the Event Resources tab of this site and will also be available at www.callminer.com under our Learning Center page.

http://www.callminer.com/

http://www.callminer.com/


“How To Achieve Optimal Revenue Recovery While Maintaining TCPA and FDCPA Compliancy in

Uncertain Times with Interaction Analytics”

Proprietary & Confidential, Speech Analytics Inc.6

Today’s Agenda

Explanation of how interaction analytics works Moss & Barnett and Delta Outsource Group

Current and potential regulatory laws at Federal and State level and their impact on collection activity

Best practices for compliance with legal/CFPB expectations & how analytics can help

Delta Outsource Group The beginning – The Past- What we are doing now

Challenges- Finding the balance between operational & compliancy objectives

Rolling out a comprehensive technology supported improvement plan

Results and the Future

Take-a-ways Wrap up Q&A


Analytics workbench, category/ scorecard configuration

Agent and supervisor feedback performance portal

Delta Outsource Group’s Analytics Platform


The Simple Value of Automated Interaction Analytics

““If you can’t measure it,

you can’t improve it.”

Lord Kelvin


Thank you for calling ABC bank. How can I help you?

This is my third time calling! You overchargedme on my last bill. I need to speak with a manager.

May I confirm your name, address, and last four digitsof your social securitynumber?

I’ve already entered my account information in the IVR! You people are useless!

[Proper Greeting]

[Repeat Language]

[Billing]

[Escalation]

[Agitation]

[Account Verification]

[Dissatisfaction]

[Over-talk]

language patterning & acoustics automated scoring

Agent Quality: 82

Churn Risk: High

Customer Satisfaction: 36

Efficiency Rating: Optimal

Compliance Risk: Low

Sales Effectiveness: N/A

speech recognition

Customer ID: 1298281

Call ID: 394802

Agent: Gabriel Nelson

Department: Saves

Supervisor: Jay Gatsby

Date: Oct 15, 2012 – 9:36AM

Direction: Inbound

Customer ID: 1298281

Customer tier: Gold

Customer ACV: $1,649

Products: Triple play

City: Fort Myers

Subscribe date: 8/23/2010

interaction metadata crm data

audio capture

customer interactions

contact analytics

Feedback

Analyze

Search, trend,

discover, compare,

report

Automated quality &

performance

management

API - Exporting

Data to 3rd Party

Applications

Top rank – Talk-down“Your Talk-down score is one of the highest on the team. Keep it up!”

results

How Automated Interaction Analytics Works


But First, a Survey Question…

How are you currently assessing agent and organizational compliance in your

contact center?

Manual monitoring only (1-5% of calls)

Partial automated analytics plus manual monitoring

100% automated analytics driven scoring and reporting


Law firm based out of Minneapolis, MN

Provides national compliance and defense litigation services to businesses serving in the ARM industry

Substantial experience in FDCPA, FCRA, TCPA, state law, as well as federal and state regulatory matters

Actively engaged with federal and state policymakers from the CFPB to state regulators


Legal Disclaimer

This information is not intended to be legal advice and may not be used as legal advice. Legal advice must be tailored to the specific circumstances of each case. Every effort has been made to assure this information is up-to-date. However, it is not intended to be a full and exhaustive explanation of the law in any area, nor should it be used to replace the advice of your own legal counsel.


What’s Happened Since November

Republican control of executive & legislative branches

Focus on financial services reform

Changing of guard at certain relevant federal agencies‒ Ohlhausen (FTC)

‒ Pai (FCC)

‒ Mnuchin (Treasury)

No changing of guard at CFPB

Debt collection rulemaking


Federal Level Activity

FDCPA Legislation‒ Apply FDCPA to government debt (HR

864, HR 1521, S 575)

‒ Exclude legal proceedings from FDCPA (HR 1849)

TCPA Legislation‒ Repeal restriction exemptions for

federal government debt (S 564)

Financial Services Reform‒ CHOICE Act

CFPB Reform


State Activity

Colorado FDCPA

Maine FDCPA

Debt litigation proposals


Debt Collection Regulatory Activity (FTC)

FTC v. AMSC consent‒ Misrepresentations regarding arrest and credit reporting

status (FTC)

‒ At least 5 year record retention period

FTC v. GC Services consent‒ Calling consumers multiple times after being told that the

person who answered did not owe the debt, that they had called the wrong person, or that the person they wanted could not be reached there

‒ Leaving phone messages that illegally disclosed purported debts to others without consumer permission

FTC text messaging and e-mail sweep


Debt Collection Regulatory Activity (CFPB)

Rulemaking Status - Pending

Characterizing debt collection as a “dead end”

Two reports in 2017‒ Online Debt Sales Market

‒ Consumer Experiences with Debt Collection

Building the case that because of volume, aggressive oversight is necessary

Release of 2017 FDCPA Report‒ Miscoding accounts unsuitable for sale

‒ Charging of unlawful fees

‒ False representations over repayment, creditworthiness, revocation/expiration of settlement offers

‒ Improper third-party communications


Takeaways

Expect continued focus on debt collection enforcement‒ www.consumerfinance.gov/about-us/blog/ (side

of page)

‒ www.consumerfinance.gov/about-us/newsroom/ (go to bottom of page)

‒ www.ftc.gov/stay-connected

Reinforce correct practices based on enforcement trends


What Do You Say When the CFPB Asks….

How do you ensure that your organization can meet all of the requirements, reporting, trending and root cause analysis to ensure you are maintaining CFPB compliancy?


Delta Outsource Group

Founded in 2009

Nationwide provider of collection and receivable management programs

PPMS, ACA and Tech Lock certified in addition to being PCI DSS and SSAE16 compliant with an A+ BBB accreditation


Topics

1. The beginning - FDCPA violations, risk and abusive language,

legal action mentions

2. Collector efficiency – call duration, excessive silence, tax time,

ACW

3. How we’ve done it in the past (manual scorecard)

4. How we are doing it now (automated scorecard)

5. Rollout plan


The Beginning

Underutilized with basic reports

FDCPA violations

Risk and abusive language

Legal action mentions


Collector Efficiency

Call duration

Excessive silence

Tax time discussion


The Past

Compliance integrated into incentive plan

Randomly selected manually monitored/scored 5 calls per month

4 categories

1 score


Challenges

Finding the balance between operational and compliance objectives

Avoiding having “perfect” be the enemy of the good

Recognize how automated and manual must co-exist to achieve optimal overall goals


Rollout Plan (Messaging is Important)

Executives – Identify purpose, document and communicate

Analyst – Define success metrics, engage, celebrate milestones

End users – Educate, communicate, get wish list and achieve buy in

Agents – Explain benefits, transparency, feedback and recognize top performers


The Present- Adding Automated, Non-biased Scoring to the QA Process

Compliance score

100% of calls

9 categories

1 score

Opening -Proper

Identification Consumer

(Name Only)

Opening-Proper

Identification of Self

Opening-Proper

Identification of Client

Opening -Two Party Recording Consent

Opening -Mini-

Miranda

Opening -Delta

Outsource Group

Collections -FDCPA

Violations

Collections -Risk &

Abusive Langauge

Collections -Legal Action

Mentions


Results -- Collector Efficiency

Successes to date‒ Within 90 days our average call

duration reduced by 20%

‒ Average Silence on call reduced by 25% within months

‒ “Tax Time” category creation and scoring resulted in immediate recovery improvement rate

‒ Agents have really bought in to interaction analytics, eager to improve their scores


The Future-Where We Are Going Next….

DNC report

After call work

Efficiency added to scorecard


In Summary….

Stay current

You must be proactive‒ Take advantage of technologies (like Interaction Analytics) to meet

your compliance and business objectives



Educational Webinar is brought to you by

www.EngagementOptimization.com


Today’s Educational Webinar “How To Achieve Optimal Revenue Recovery While Maintaining TCPA and FDCPA Compliancy in

Uncertain Times with Interaction Analytics” was sponsored by the following partners:


www.callminer.com/demo

@CallMiner

linkedin.com/company/CallMiner

facebook.com/CallMinerInc

[email protected]

Contact Speech Analytics for a test drive!

CallMiner puts “skin in the game”

Solution acquisition costs adjusted based on results achieved

Results tied to defined benchmarks during customer Test Drive engagement

Available to qualifying contact centers and BPOs

Stay tuned for our May Webinar:

“The 7 Pieces of Information You Need To Know To Really Improve your Contact Center”

https://callminer.com/learning-center/webinar

http://callminer.com/learning-center/new-whitepapers/

Our ROI Whitepaper and ROI Input Checklist are now available on CallMiner‘s website and EngagementOptimization.com at the links below

https://www.engagementoptimization.com/

ROI

https://www.engagementoptimization.com/welcome

Documents

“How To Achieve Optimal Revenue Recovery While Remaining ... · “How To Achieve Optimal Revenue Recovery While Remaining TCPA and FDCPA Compliant ... “How To Achieve Optimal