Banks prepare for the wave of delinquencies and defaults
As consumers face financial uncertainty from decreasing stimulus programs, banks are readying for the wave of delinquencies and defaults. According to NPR, banks are preparing for “an onslaught of defaults in debt.”
Contacting customers to help with reducing deferrals and delinquencies is increasingly difficult, as consumers become more and more unreachable. Poor contact data, consumer mistrust, call blocking, and lack of insight into individual consumer phone behavior are all impacting customer contactability. Financial services organizations that have more accurate consumer phone and email data, and have insights into when and on what number to contact their customers, will be better positioned to efficiently make contact and arrange for payment.
Learn how forward-thinking financial service organizations are improving their contact efficiency and effectiveness:
• Omnichannel phone, email, and device data for coordinated contact attempts across channels
• Predictive phone intelligence on the phone number a consumer uses most
• Understanding the times and days when each individual consumer most likely to answer
• Strategies for mitigating inappropriate call blocking or spam-mislabeling
Join Neustar dialing optimization expert Adam Russell, Vice President of Risk Solutions, [other speaker TBD] as he explains proven strategies that will help your organization prepare for the coming wave of accounts entering delinquencies.