Sallie Mae to Add 1,100 Jobs in Delaware Amid a run of troubling economic news for the state, Sallie Mae announced plans today to open a new credit operations center in the state of Delaware that will add 1,100 jobs to the workforce in the next three years. (November 21, 2008)
Facebook Targeted by Fraudsters Facebook is warning users of its popular social-networking Web site to be aware of a group of Nigerian fraudsters who allegedly are hacking into Facebook accounts. (November 21, 2008)
Citizens Bancorp Reports $10.2 Million Non-Performing Assets Citizens Bancorp reports non-performing assets - which include non-performing loans, other real estate owned, and loans delinquent 90 days or more - totaled $10.2 million at the close of the third quarter ended Sept. 30. (November 21, 2008)
GE Capital Plans Cuts To Save $2 Billion GE Capital expects to cut $2 billion in costs in 2009 as it eliminates jobs, creates regional units and tabs assets including overseas home mortgages to possibly sell during the global financial crisis. (November 19, 2008)
Delinquencies Rise at AmEx American Express Co.'s late payments rose 35 basis points to 4.4% in October, a record monthly jump in credit card delinquencies for the company, according to a new report. (November 19, 2008)
Southwest Florida Banks Saddled With Debt Florida banks based in Lee and Collier counties are plagued with $418.4 million in bad real estate debt — up from $19.1 million two years ago, according to data from the Federal Deposit Insurance Corp. (November 18, 2008)
Premiere Credit of North America To Double Workforce Indianapolis-based collection agency Premiere Credit of North America this week announced plans to expand its national headquarters, more than doubling its 250-person workforce. (November 14, 2008)
CR Software, Regal Technologies Offer Credit Card Gateway CR Software LLC, a provider of software systems, and Regal Technologies, a provider of payment processing products and services, today announced the availability of their credit card gateway to the collections industry. (November 11, 2008)
LiveVox Increases IT Capacity by 50% LiveVox, a San Francisco-based provider of hosted-dialer products and services, today announced it has continued investment in its information technology infrastructure, increasing its IT capacity by more than 50% in the past six months. (November 10, 2008)
Moody’s Analytics Releases Consumer Loan Risk-Modeling Service Moody’s Analytics, a subsidiary of Moody’s Corp., released CreditCycle, a service for forecasting and testing the performance of consumer loan portfolios by incorporating internal, lender-specific performance factors, such as lending standards and collection practices, with regional economic performance data and forecasts. (November 6, 2008)
DCM Services Hires Vice President of Business Development DeAnna Busby-Rast has been hired as vice president of business development for DCM Services LLC, a Minneapolis-based deceased account recovery company. (October 21, 2008)
NewOak Appoints Managing Director Of Global Economic Research NewOak Capital, a New York-based asset management and capital markets consultancy, has appointed Vincent J. Truglia as managing director of global economic research. (October 20, 2008)
Credit Counselor Teams with Hockey Club To Educate Consumers Consolidated Credit Counseling Services, a provider of credit counseling and debt management programs, announced it has teamed up with the Florida Panthers hockey team and the BankAtlantic Center to teach consumers about personal finance. (October 14, 2008)
Bureau of Collection Recovery Opens Call Center Bureau of Collection Recovery Inc., a Minneapolis-based collection agency, recently opened a 225-seat call center in Willmar, Minn. (October 14, 2008)
Kolcraft Takes Charge of Deductions, Cash Application With 9ci Faced with mounting chargebacks and deductions exacerbated by lagging cash application times, this Chicago-based manufacturer was able to slash processing time while boosting credit and A/R performance using an automated solution.
Expanding Your Collection Agency’s Role What should a collection agent do when it appears that the debtor has the will and volition to pay but just not the means? Should they proceed with a suit? Foreclose on their home? These are often the usual courses of action, and in many cases the only effective one. However, depending on the debtor and their circumstances, a more creative approach may be the way to go.
Taking Collections to the Next Level: Leveraging People, Process and Technology to Achieve Breakthroughs in Collection Performance No matter what aspect of the quote-to-cash process you automate, the success of your project
will be reflected - in one way or another - in its effect on your collections. It is well documented
that improving invoice accuracy not only reduces payment times, but the number of items
requiring remediation as well. Improving your credit evaluation process will also reduce slow
payments and subsequent bad debt losses, though the impact may not be as direct. Many other
point solutions ultimately affect collections, including auto-cash, EIPP, new application
processing, credit scoring, order approval, deduction management and trade promotion planning.
Revenue and Receivables Management: Myths and Truths About ERP Enterprise Resource Planning (ERP) technology has a proven history of delivering great value
to todays corporations by enabling a centralized information warehouse to be leveraged
enterprise-wide. However, ERP has a broad focus, so best-of-breed (BoB) applications have
been developed to provide the depth of functionality required by key functional areas, such as
accounts receivable. As a result, corporations have long recognized the need for best-ofbreed
applications to bridge the void of ERPs functional limitations.
The use of pretexting -- pretending to be someone to gain personal information -- has been in the news because of its use in the boardroom scandal at Hewlett Packard. Has your firm, or an agency you've employed, ever used pretexting?
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