Leveraging Speech Analytics to Boost Compliance and Contact Center Performance

Data from 2016 shows the average U.S. household carrying debt of more than $132,000, and with more than $16,000 of credit card debt on average. Student loan debt is also exceedingly high. All of these debts unfortunately mean some borrowers have difficulty keeping up, and that’s where debt collection centers must be involved.

This consistent rise in debt has driven a corresponding increase in debt collection calls, which places pressure on centers to maintain compliance. There are state regulations to manage as well as federal licensing laws under the Fair Credit Reporting Act (FCRA), the Fair Debt Collection Practices Act...

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