Collections and Loss Mitigation
A full suite of services to align with a new world of digital consumers and business automation.
The world is changing all around us. Today, consumers are in more control and have higher expectations than ever before. Bridgeforce helps financial institutions take the necessary steps to increase collections and mitigate losses by creating synergies between the way businesses operate and the way customers behave.
The classic telesales-driven collections model is quickly becoming obsolete. It takes too long, costs too much and results in too many defaults. Bridgeforce has been on the forefront of digital collections, having incubated and launched two digital collections solutions over a decade ago. For us it’s not just a new shiny object; we have a proven model to impact losses digitally. From focusing on a digital/mobile strategy and enhancing a loss mitigation tool kit to employing enhanced account strategy segmentation, we provide proven, real-world solutions to get results.
Automation, Digital Collections and Machine Learning
We help break down barriers in order to speed up the time-to-business value by helping clients effectively leverage artificial intelligence, machine learning and robotic process automation solutions.
System of Record Replacements and Upgrades
Bridgeforce provides independent expertise to ensure that your investment dollars are spent on the right tech upgrades.
Operational Optimization and Training
Our proprietary operational assessment tool and training programs will create a dramatic improvement in your collections and recovery practices.
Third-Party Vendor Placement Models and Controls
Our programs establish the creation or enhancement of robust evidence-based governance and oversight processes that can be executed consistently by your entire team.
Recovery Performance Analysis
The client, a non-profit student loan servicer was focused strictly on servicing and collecting previous loans that had been made. They had limited resources to conduct analytics on the recovery portfolio. Most decisions were made by “gut feel” and there was little insight of variables driving payment in recovery. Bridgeforce analyzed a dataset containing all... View Article
Collections Training Delivery
DIGITAL COLLECTIONS: It’s No Longer a Concept. It’s Reality and It’s NOW.
Multi-Channel Communications Options as Your Digital Strategy Customers Want Digital, and You’re Going to Need It Advancements in digital technologies have created a shift in customer behavior and communication preferences. Consider this: 79% of consumers have made a purchase using a mobile device in the last six months. (Outer Box Design) 66% of consumers have used three or more communications channels to contact... View Article
While we have worked with many consultants, Bridgeforce actually does the work. They won't paint a picture, they will actually do detailed procedure write ups and reviews and work with your staff to deliver an optimal product. We have been very satisfied with their efforts on these initiatives and they have subsequently been used in other business areas...
SVP, Top 5 Bank
Our Solutions Benefit
Compliance and Regulatory
Achieving compliance and control objectives while improving collections performance and customer satisfaction.
Breaking down barriers to ensure projects continue moving forward and delivering value to the business.
Understanding how effective collections and loss mitigation play a role within a strong Credit Risk framework.
Meet Our Collections and Loss Mitigation Experts
Co-Founder and Managing Partner
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Bridgeforce is collaborating with Ballard Spahr’s powerhouse Consumer Financial Services (CFS) Group to launch a joint initiative to help financial institutions navigate new debt collection regulations. By teaming up, Ballard Spahr and Bridgeforce can help clients redesign their systems, policies, procedures and compliance monitoring so that they are tailored to the new CFPB rules. Want to learn more? Ballard Spahr is hosting a webinar on September 12th with Bridgeforce COO, Andrew Domino, to discuss how you can position your transformation for success. More details on registration coming soon. Full press release here: http://bit.ly/2PeTJnc