Almost any industry can benefit from utilizing a predictive dialer, a technological innovation that drives efficiency by reaching a much larger number of people than when compared to manual dialing. Some of these verticals include: telemarketing / call centers, customer service, financial services, automotive industries, home improvement, insurance, publishing / subscriptions, healthcare, education, political, utility companies and last but not least, collections.
When looking toward the future and the ways in which the collections space will continue to transition, it is vital to take into account new legislation that could significantly alter the process that businesses follow to interact with current and prospective customers alike.
A recent InsideARM.com report highlighted some of the biggest news currently circulating with the collections industry including the Consumer Financial Protection Bureau’s proposed “supervision rule,” which, if passed, could force every action that a major consumer reporting agency completes to be closely scrutinized.
“Credit reporting is at the heart of our lending systems and enables many of us to get credit, afford a home, or get an education,” said CFPB Director Richard Cordra, in a statement. “Supervising this market will help ensure that it works properly for consumers, lenders, and the wider economy. There is much at stake in making sure it is both fair and effective.”
Additionally, the TCPA restricting the use of auto and predictive dialers as well as prerecorded messages to call a consumer’s cell phone will definitely affect the predictive dialer space. In December of 2011, 54 U.S. state and territorial attorney generals band together to bring forth a letter to Congress that shows that they are not pleased with a new bill that will replace the existing Telephone Consumer Protection Act (TCPA). The current bill does not allow businesses using certain communications technologies, including auto dialers and predictive dialers, to contact consumers unless they have been given permission previously.
Referred to as H.R. 3035 and also known as the Mobile Informational Call Act of 2011, the bill would only allow dialers to contact consumers for solely informational calls on wireless phones; further explain what “prior express consent” allows for; and continue to make it illegal to use innovative technologies including predicative dialers for telemarketing reasons.
A benefit to consumers who turn to SpitFire, a major predictive dialer provider located in Texas, is that its Enterprise Predictive Dialer is fully compliant with all telemarketing regulations. As new laws are introduced and older ones are revamped, a dialer that will totally abide to these strict mandates is key to the success of any organization.
Edited by Rachel Ramsey