Collector - April 2021 - 12

FYI

OPERATIONS

TECHNOLOGY

POSITIVE ACCOUNT OUTCOMES

COVID-19 ACCELERATES SHIFT TO ONLINE BANKING

88%

The coronavirus pandemic has led people around the world to rely on banking
apps even more than they did before. In a recent report by Mastercard, 96% of
respondents said they perform personal banking activities online, and among
those people, many showed an increased demand for continued use of these
and similar services:

53%

Of accounts placed with debt collection
agencies in the last 12 months were
paid to some extent.

Of people said they were using banking apps
more than before the pandemic.

Source: Aite Group/TransUnion

87%

TECHNOLOGY

Of people who had not used banking apps
before agreed they would continue to use them.

TOOLS AND TECHNOLOGY USED
FOR DEBT COLLECTION

66%

Of people agreed they would consider using other
types of digital payments due to their experience.
Source: Mastercard

Q:

SAVINGS

AVERAGE TAX REFUND BY STATE
Based on 2020 data from the IRS.
HIGHEST TAX REFUNDS

76% Manual skiptracing

LOWEST TAX REFUNDS

1

Texas - $3,201

Oregon - $2,327

Which of the following tools
does your company use for
debt collection?

73% Collection management software

1

66% Online payment portal
62% Toll-free number

Louisiana - $3,079

2

Maine - $2,328

3

Florida - $3,012

Mississippi - $2,989

4

Vermont - $2,349

Wisconsin - $2,403

2
3
4

60% Letter vendor
59% Call recording
49% Batch skiptracing
42% Consumer data
35% Compliance software
33% Predictive dialer
28% Interactive voice response

Wyoming - $2,913

5

Montana - $2,436

5
Source: PolicyGenius/IRS

12

18% Speech analytics
7% 24/7 customer service
Source: TransUnion

ACAINTERNATIONAL.ORG


http://www.ACAINTERNATIONAL.ORG

Collector - April 2021

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