8 ways compliance is built-in to Collect
Navigating the compliance landscape in debt collection can be complex, but with Collect, it doesn’t have to be! Here’s a breakdown of how our compliance and security are embedded across our broad operations to protect both you, and your customers.
1. Compliance-by-design philosophy
From the get-go, our product is designed with compliance at its core. By building the full scope of requirements into our code such as local regulations and contact limits, we can ensure that all collections activity operates with a compliance firewall. Every customer interaction is tracked as an ’event,’ creating a strong audit trail and minimizing non-compliant actions. This automated approach acts as a fail-safe against human error.
2. Licensing and regulations
InDebted meets all licensing and regulatory requirements in the United States, Canada, Australia, New Zealand, and the United Kingdom. But we know that compliance isn’t just about having a licence and following regulations; it’s also about focusing on the customer experience by considering what’s best for the consumer throughout their collections journey. Find our licensing information where you operate using our search tool at the bottom of this page.
3. Geographically aware
Upon referring your customers, our product identifies where they’re located and tailors its actions based on local regulations. Whether requirements are by country, federal or state, with different time of day restrictions or contact limits; Collect has all the specifics coded into its infrastructure.
4. Communication approvals
We invest heavily in ensuring our collections communications are written in a way that’s friendly, easy to understand, and helpful. Once these communications have been drafted, they go through a rigorous compliance review before they’re fed into our product to be sent via SMS or email channels. Plus, they’re tested on an ongoing basis for performance metrics including open rate and click-through rate, ensuring that customer engagement is maximized at every opportunity.
5. Staying ahead of regulatory changes
We have a dedicated team of Compliance specialists who focus on each of our core markets, along with working diligently to stay on top of any regulatory shifts. They collaborate closely with our Engineering and Data teams to integrate any new laws or updated guidelines into our product and operations as quickly as possible.
6. Infrastructure security
We host using Amazon Web Services to ensure we have secure and scalable infrastructure across all our key markets. We also make full use of their embedded security products, with regular third-party penetration tests. This combination means our entire collections architecture provides enterprise-grade security and reliability, for all our clients and their customers.
7. Data security
Data security plays a key role in all our product decision making. All information is protected to the highest industry requirements, and certified under global standards such as SOC II Type 2, ISO27001 and ISO9001, and we’re PCI compliant. Taking this further, we use several failsafes to give our clients full confidence - audits, risk management processes, state-of-the-art encryption protocols and regular reviews are all part of our systems and processes.
8. Customer support
Our product does most of the work, but our industry leading Customer Support team is also available wherever and whenever customers need us, across all voice and digital channels. They undertake a robust onboarding and ongoing training program to ensure our commitment to all aspects of compliance. This covers multiple areas including cybersecurity, regulatory compliance and consumer protection laws by locale, interaction handling (calls, email, SMS), data security and quality management.
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