Offer your customers a tool to self-cure in a preferred, non-confrontational environment, while you collect more and maintain full compliance and security.
The Virtual Collection Agent is an easy-to-use, robust online collection tool that is PCI-compliant and enables creditors of any size manage any type of debt. With a highly configurable system, you can easily determine and implement your credit strategies. Offer debtors negotiated payment terms, account holder education and assistance, and online payment integration to provide a positive end-to-end experience.
Debtors self-cure 24/7 in a user-friendly environment that lets them submit payments, make promises, or enroll in payment plans. Client results have proven this solution to be an especially effective tool for contacting hard-to-reach debtors.
The Virtual Collection Agent delivers a host of benefits and features to help you:
- Collect more at a much lower cost-to-collect
- Be assured of full compliance and security
- Gain instant scalability to respond to business and market needs
- Maintain ultimate control over strategy, rules and implementation
First-Party Collectors Benefit from Relationship Management
Lenders, billers and other first-party collectors will collect more, while building customer loyalty and maintaining valuable relationships. Enhance your brand and keep customers for life by turning a potentially negative experience into a positive one.
Third-Party Collectors Benefit from Higher Productivity
Collection agency and debt buyers can manage all accounts, streamline operations, and improve liquidation at a lower cost-to-collect. Manage the needs of multiple clients, deliver impressive results efficiently, and scale your operation instantly.
Please contact us to receive more information about this product, and a representative from Online Resources will contact you shortly.
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How it Works for the Debtor
Authentication – Enter the site and submit information to verify identity and ensure user and network security. The debtor is presented with language that adheres to state and federal requirements to ensure compliance.
Treatment Presentation – View account information and payment options, which are managed and pre-defined by the creditor. Options include payment methods for an acceptable amount, recording a promise-to-pay, resolution of a payment program, and functions to create a financial advisory experience.
Negotiation – The Virtual Collection Agent will resolve the outcome best for the debtor and the creditor, based on rules and strategies set by the creditor.
Payment Processing – Payments are submitted online with multiple funding sources, including check, savings account, and credit card check. Integration with Online Resources’ card and ACH payment services provides debtors a seamless experience from authentication to payment.
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