Menu

Breaking News

ABA Tells CFPB Debt Collector Time-Barred Debt Disclosure Is Unworkable, Co…

Steel Rose

ABA Letter to CFPB Bureau of Consumer Financial Protection 1700 G Street NW Washington, DC 20552 Dear Madam or Sir: The American Bankers Association (ABA) appreciates the opportunity to comment on the Consumer Financial Protection Bureau’s (Bureau) Supplemental Notice of Proposed Rulemaking for time-barred debt disclosures (SNPR). The supplemental notice amends...

READ MORE

The Bottom Line

Product Spotlight

Verifacts Product Spotlight

Henry Gardner

Verifacts By Henry Gardner VeriFacts is a leader in employment verification for the financial industry. They specialize in identifying employment and validating that information to ensure accuracy in the data provided to clients. Their employment verification programs cater to the unique industry they serve providing: Daily Delivered Results, National Coverage, Risk Free Pricing...

READ MORE

Skip Tracing Advisor

Developing a Network of Closed Sources by Ron Brown, Skip Tr…

Ron Brown

As we begin this article it is very important that the professional tracer clearly understand what constitutes a “CLOSED SOURCE”, the value of a closed source network and the obligation due to each closed source. Definition: CLOSED SOURCE… sources of information with restricted access and information available only through mutual information...

READ MORE

Collection Software Roundtables

Shielding Collectors From TCPA and FDCPA Violations

Joshua Fluegel

The demands of regulators lead collection professionals to collect debt with the credo of “as little contact with the consumer as possible.” Every eliminated encounter with a consumer while the payment is still being collected is one less chance for a TCPA or FDCPA violation. For this reason many accounts...

READ MORE

Feature Stories

Derogatory remarks remain on your credit reports for about s…

Steel Rose

Derogatory remarks can remain on your credit reports for about seven years. It takes time to make them disappear. The remarks will have less influence on your credit scores over time — and will even fall off eventually. Creditors, such as credit card issuers, mortgage lenders and student loan servicers, regularly send...

READ MORE

Collection Agency Advisor

The Secret to Excelling in Profit AND Performance

Gordon C. Beck III

To each their own. That’s what I keep telling myself when discussing with my competitors what their strategy is to run and operate a successful collection agency. Everyone’s outlook is different, but the same. Sure, everyone wants to be a top agency, that’s what everyone is supposed to say. But...

READ MORE

Legal Collection Advisor

Executive Orders Impacting Collections

Michael Starzec

No, this is not a review of the 1996 thriller starring Kurt Russell, Halle Berry and Steven Seagal but it does focus on the prestige of the word “Executive.”   At hotels and sports arenas, you want the executive suite. In Illinois, at least a 1,000 corporations integrate “executive” into their...

READ MORE

Collection Industry Advisor

3 Options to Offer During Tax Season

Nick Jarman

When it comes to collecting debt, tax season is without argument the most profitable season of the year. Tax season starts at the beginning of February and wraps up in early May. February generally sees the highest return and slightly tapers off each month thereafter. One issue that can ease...

READ MORE

Compliance Advisor

PCI Compliance, SOC, and HITRUST

Debra J. Ciskey

With the June, 2019, disclosure of a data breach at AMCA looming large in the rearview mirror, debt collectors both large and small are scrambling to verify the security of their consumer portals and their consumer information in general. With numerous vendors and auditors serving the industry in this key...

READ MORE

PSCU Partners with Telrock to Offer Next-Generation Delinquency Management Software Platform

  • Written by Steel Rose

 St. Petersburg, Fla. — (June 4, 2020) — PSCU, the nation’s premier payments credit union service organization (CUSO), announced it has entered into an agreement with Telrock to offer its cloud-based collection and recovery software platform, Optimus, to PSCU Owners and other credit unions to improve their overall delinquent account management performance. 

Through this partnership, both PSCU and CU Recovery & The Loan Service Center, a PSCU company, will leverage Telrock’s leading-edge collection and recovery software platform to help credit unions achieve a higher level of efficiency, effectiveness and compliance across all products for both first- and third-party collections. 

“Performing and managing delinquent account activities is becoming increasingly complex and demanding, especially as we navigate the COVID-19 environment and the increased delinquencies we anticipate as a result of the pandemic,” said Steve Balmer, managing vice president of Delinquency Management for PSCU. “With Optimus, we will be in the unique position of having an expanded and enhanced set of collection and recovery capabilities that we will utilize to improve our own results, as well as make the platform easily available to credit unions for use in their own delinquency management efforts.” 

Optimus’ key capabilities include a “smart” collector workbench with easy and secure access, embedded digital channel communications and omni-channel management to best align with consumer contact preferences, as well as an integrated self-serve web portal for member do-it-yourself (DIY) collection payment empowerment. 

“It is the sum of its parts that enables Optimus to stand out from the outmoded legacy collection and recovery software systems in use today,” said Rob Fite, vice president of Business Development for Telrock. “Optimus was built from the ground up based on modern technology and intelligent design for use in the cloud. The result is a unified platform that provides a broad and powerful set of features and functions that enables the collection of any credit product during any stage of delinquency. With Optimus, PSCU and the credit unions it serves are gaining an unparalleled level of control, agility, flexibility, automation, insight and ease of use, all of which are critical features needed to succeed in today’s highly challenging collections environment.” 

Optimus will be available to Owner and non-Owner credit unions through PSCU and CU Recovery & The Loan Service Center. For more information, contact This email address is being protected from spambots. You need JavaScript enabled to view it.

About PSCU 

PSCU, the nation’s premier payments CUSO, supports the success of 1,500 credit unions representing more than 3.8 billion transactions annually. Committed to service excellence and focused on innovation, PSCU’s payment processing, risk management, data and analytics, loyalty programs, digital banking, marketing, strategic consulting and mobile platforms help deliver possibilities and seamless member experiences. Comprehensive, 24/7/365 member support is provided by contact centers located throughout the United States. The origin of PSCU’s model is collaboration and scale, and the company has leveraged its influence on behalf of credit unions and their members for more than 40 years. Today, PSCU provides an end-to-end, competitive advantage that enables credit unions to securely grow and meet evolving consumer demands. For more information, visit pscu.com. 

To continue reading,
please provide your name and email.
We never spam your inbox