From September 9-11, Credit Control will be attending the Debt Connection Symposium & Expo, one of the industry’s most attended conferences. Along with representatives in various industries, we will be networking, as well as listening to presentations to learn more about staying in compliance with regulations and improving business processes.
We know that all of the presentations will be informative, but perhaps the most anticipated event is “The Great Debate: Collection Effectiveness & Compliance.” This four-person debate will cover “the most relevant topics of the day,” according to the conference’s website. At Credit Control, there is no debate that these two areas are of the utmost importance, as both full compliance and collection effectiveness are top priorities.
Compliance, ethical responsibility, and accountability are built into our company culture. We are fully licensed and bonded, allowing us to provide collection services in all 50 states, as well as Puerto Rico, Burma, and Guam. Our staff is monitored to ensure full compliance with individual client work standards, as well as all federal, state, and local laws and regulations.
Credit Control records 100% of its calls to ensure all regulatory requirements are met. We have invested in a state-of-the-art voice analytics system, as our passion for compliance demands nothing less. Unlike traditional methods of call monitoring, it provides real-time, ongoing analytics and reporting on the compliance of our calls. This technology gives us a greater vision into the positive trends of our most successful representatives. By pinpointing our strengths using this software, compliance risk is significantly minimized.
Our company employs an internal audit team responsible for auditing all areas of operations. This team reports directly to the Chief Compliance Officer, a certified MAP (Members Attorney Program through the Association of Credit and Collections Professionals) attorney, ensuring that completely objective, unbiased auditing takes place. Various aspects are closely monitored and reported on a daily basis. A weekly summary is then provided to all directors, as well as to the CEO.
Credit Control is HIPAA compliant and PCI Level 2 compliant. PCI validates technical and operational practices surrounding data security. In addition to annual audits, quarterly security scans are conducted to ensure ongoing compliance and protection of all non-public and private information.
Our proprietary Business Intelligence (BI) platform allows us to dissect large sections of data into smaller meaningful data sets so we can quickly identify anomalies and trends in portfolios, resulting in more dollars collected at a higher velocity.
Credit Control’s industry leading BI platform gives an unparalleled view into each portfolio, industry, or segment using millions of rows of historical data, along with updated skip data. Once the data is compiled, an analysis is done and the results drive our strategies to provide the best possible custom solution.
Not only does the BI tool allow us to evaluate portfolios, it also allows us to track all areas of operations throughout our organization. From account representative queues, to client service requests and IT projects, our BI tool puts the power of analytics into the hands of every manager to better utilize our resources.
Credit Control remains committed to continuously reviewing and enhancing its compliance protocols in an ever changing regulatory and legal environment. We are looking forward to hearing what new processes or products industry experts recommend and are putting into practice. These kinds of engagements keep us innovative, knowledgeable, and able to remain strong in both compliance and effectiveness.
We hope to see you at DCS 2015. While we are in a competitive industry, it is still nice to be able to share opinions, challenges, and news. We are looking forward to meeting with everyone, be sure to find the Credit Control representatives!