Posted by MeridianLink | June 1, 2023

The Future of Collections Is in the Cloud

Debt collection has long been a major pain point for financial institutions, one made even more difficult by the limitations of on-premises debt collection software, which is costly to install, maintain, and upgrade. 

In a financial industry that prizes innovation, organizations that continue to embrace the outdated status quo will likely lose out to more technology-savvy competitors. One way to avoid this fate? Implementing a cloud-based debt collection software that can help optimize costs, boost flexibility, and facilitate digital expansion. 

Cloud-based software—such as MeridianLink® Collect—provides efficiency and scalability so collection teams can spend more time resolving delinquencies and less time on software updates and manual tasks. Plus, with consistent backups, restorations, and advanced cybersecurity measures such as intrusion detection and malware scanning, users can rest assured that their software is always up-to-date and well-managed.   

Consider the Switch to MeridianLink Collect 

Save time and resolve more delinquencies with MeridianLink Collect, a cloud-based debt collection solution designed to propel financial institutions into the future by helping them: 

  • Identify more untouched accounts and boost revenue with custom queues and analytics 
  • Untangle snarled workflows with advanced automations designed to boost efficiency and accuracy 
  • Reduce charge-offs with seamless integrations that support collection efforts, including third-party SMS applications and skip tracing 
  • Easily manage fluctuating workloads with near-instant resource scaling that doesn’t interrupt service
  • Preserve consumer trust with tools to aid in delinquency resolution, from instant workout loans to reliable and compliant communications 

With Collect, there are no complicated software installations, manual updates, or clunky integrations—only a secure, user-friendly platform built to help teams focus on consumer outreach and account resolution. 

Experience cloud-based collections for yourself! Click here to learn more. 

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