Collections and Loss Mitigation

Bridgeforce Brings Digital Collections Insights to insideARM’s First Party Summit

June 20, 2019

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Chadds Ford, PA, June 20, 2019 – Bridgeforce thought leaders, Michael Orefice, Director of Global IT, and John Sanders, Co-Founder and Managing Director, shared collections insights and best practices to the insideARM First Party Summit in Nashville. The Bridgeforce session “Things You Know—and Things You Don’t—About Digital” covered how to rethink the way digital can be used to interact with—and even incent—customers to maximize interaction value and increase pay rates.

“Digital collections are table stakes today,” said John Sanders. “You can be anywhere on the spectrum, but it is critical to begin stretching the paradigm and conventional thinking around how the business of collections is accomplished. “

The session highlighted the future of the collection business and transformational best practices regardless of the phase on the digital journey. Attendees were given steps that they can do immediately with technology, analytics and operations. “A digital strategy gathers and exchanges information across any channel,” said Michael Orefice, “and eventually it’ll expand into new ways that allows you to help customers.”

The First Party Summit is a round table event for creditors and agencies about the unique challenges of “first-party” work, including collections, outsourcing, and customer care. While the subject may have been addressed in a single session at prior industry conferences, this was the first (and only) event devoted exclusively to the issues for both sides in the First Party environment. The Summit was held in Nashville, Tennessee from June 17-19.

Bridgeforce is a specialized multinational consulting firm serving clients involved in all aspects of the consumer and small-business lending and payments space. Bridgeforce helps organizations:

  • Translate business vision into the outcomes supporting the vision
  • Design new data-driven processes that support outcomes
  • Consider operational needs from end to end
  • Think big, but act small, with manageable interactions
  • Embed control and compliance
  • Keep project costs and duration within scope

 

For more information on Bridgeforce, visit https://www.bridgeforce.com/. More information about the First Party Summit can be found at https://firstparty.insidearm.com.

Click the picture to see the full presentation deck.

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