Credit Research Foundation

SEPTEMBER 27, 2024

It’s been 16 years since the last major economic downturn – the banking crisis that started in 2007 and was in full impact mode from 2008 through 2010. During that period, the U.S. economy shed over 8.7 million jobs, and the unemployment rate peaked at 10% in October 2009. Since then, we’ve weathered the COVID-19 pandemic, which many experts predicted would lead to a wave of defaults and business closures.

Days Sales Outstanding 195

Days Sales Outstanding Bad Debt DSO Default 195

RevCycle

SEPTEMBER 25, 2024

Hospitals are facing a growing threat to their bottom lines, namely payer requests for information (RFI’s). A study by Kodiak Solutions shows that the denial rate from initial RFI’s has increased by nearly 9% since 2022. The increase is not due to a decrease in data quality either, with Colleen Hall of Kodiak Solutions stating: “Our analysis suggests that health insurers are using RFI denials to simply slow down claims that they ultimately will pay, just to reap the benefits of paying more slowl

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RMAi Blog

SEPTEMBER 16, 2024

CHANDLER, AZ – National Credit Adjusters, a receivables acquisition and management firm headquartered in Hutchinson, KS with a satellite location in Chandler, AZ, was pleased to continue support of an annual water drive spearheaded by the team in the Chandler office. Due to the desert climate, Chandler, AZ has an average temperature of a sweltering 107 degrees in July, taking a toll on the unfortunate during the summer.

Credit and Collections 162

Credit and Collections 162

Your Virtual Credit Manager

SEPTEMBER 24, 2024

Credit and collections management too often involves simultaneously handling multiple urgent tasks that demand immediate attention. It is more common to face sudden crises or fire drills than to have long, uninterrupted periods to work on important projects. This constant pressure is one of the greatest challenges executives with accounts receivable (AR) responsibilities face—navigating urgent issues while still keeping focused on the strategic goals that drive long-term success.

Accounts Receivable (AR) 130

Accounts Receivable (AR) Credit and Collections Credit Management Default 130

Due

SEPTEMBER 9, 2024

A man from Nevada has been convicted of a fraud scam involving $11.2M in COVID-19 pandemic relief funds intended to help small businesses. The person at the heart of the fraud case, Meelad Dezfooli, was prosecuted by Trial Attorneys D. Zachary Adams and Taylor G. Stout of the Criminal Division’s Money Laundering and Asset Recovery Section (MLARS) and Assistant U.S.

Transactions 116

Transactions Small Businesses 116

TreviPay

SEPTEMBER 20, 2024

Without customer satisfaction built into your B2B growth strategy, you might run into some unnecessary growing pains. Invoicing is an essential consideration to include in your strategy. As part of a comprehensive smart approach, it’s important to understand that invoicing B2B customers is significantly more complicated than invoicing B2C customers.

Credit and Collections 105

Credit and Collections Cash Applicator 105

Grit

SEPTEMBER 4, 2024

Maximizing profits after Halloween is essential for BigCommerce merchants. The holiday season doesn’t end on October 31st. There are still plenty of opportunities to drive sales during the Halloween after sale period. Automated campaigns can help you manage these post-Halloween sales efficiently, saving time and boosting revenue. Understanding the Importance of Halloween After Sales Halloween after sale campaigns are crucial for keeping the momentum going after the holiday.

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RMAi Blog

SEPTEMBER 27, 2024

RMAI extends its thoughts of support to all of those affected by Hurricane Helene. RMAI recommends all members temporarily suspend collection calls and communications to consumers in the portions of southeast who are directly affected by this emergency. Information on the effect of Hurricane Helene from some of the states directly impacted are listed below.

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Your Virtual Credit Manager

SEPTEMBER 10, 2024

To optimize the order-to-cash (O2C) process, it's crucial to understand the significant role Credit and Collections plays. This function must collaborate closely with sales, fulfillment, shipping/logistics, and accounting, all of which are integral to converting an order into cash. Specifically, Credit and Collections is responsible for approving new customers for credit terms and managing orders at the beginning of the O2C cycle, while also monitoring risks within the Accounts Receivable (AR) p

Credit and Collections 130

Credit and Collections DSO Deductions Accounts Receivable (AR) 130

Due

SEPTEMBER 20, 2024

In an industry flooded with options, Gavin Maloof and Steve Rice have found a way to stand out with their tequila brand, Comisario. They credit their success to a combination of business acumen, product excellence , and an authentic partnership. From the start, their approach to the competitive liquor market was rooted in creating a product that stood out in terms of taste and upheld values of trust, integrity, and a commitment to customers and employees alike.

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Lendio

SEPTEMBER 19, 2024

Generally, there are two main levers that your business can pull to affect growth metrics: 1) customer acquisition, meaning bringing new shoppers through the door, and 2) customer retention, meaning keeping your old shoppers from exiting that door. Each is a necessary component of business growth, but which is more cost-effective—and which should you prioritize for your small business?

Small Businesses 98

Small Businesses 98

Abrigo

SEPTEMBER 23, 2024

Recent loan rate trends from Abrigo Connect Carefully monitoring interest rate trends for loans will help financial institutions remain competitive as rates drop. Would you like other articles like this in your inbox? Data for banks & credit unions Real-time pricing trends for loans Now that the Fed has lowerered interest rates , financial institutions will want to carefully monitor current loan interest rate trends in their markets to remain competitive as rates drop.

Credit Unions 88

Credit Unions Credit Risk Credit and Collections Small Businesses 88

Plooto

SEPTEMBER 19, 2024

Regardless of your hesitations, investing in technology can save you and your team a lot of unnecessary headaches. If you’re on the fence, read these five key reasons why payment automation is worth the investment.

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RMAi Blog

SEPTEMBER 26, 2024

Bringing 15 Years’ Experience in Client and New Product Development Rochester, N.Y. – September 25, 2024 – Continental Service Group, LLC d/b/a ConServe, a prominent leader in the collections industry, is excited to announce the addition of Matthew Rehnelt to their Sales Department as the Director of Business Development. In his new role, Matt will focus on supporting ConServe’s U.S.

Credit Unions 130

Credit Unions Credit and Collections 130

Grit

SEPTEMBER 8, 2024

Thanksgiving is a pivotal time for eCommerce businesses, as it marks the beginning of the holiday shopping season. For retailers, it’s an opportunity to drive sales, engage customers, and build long-lasting relationships. This blog’ll explore some of the best Thanksgiving email examples and how to set them up effectively on BigCommerce. Top Thanksgiving Email Examples for BigCommerce Festive Promotion Announcement A well-crafted festive promotion announcement can generate excitement and ur

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Due

SEPTEMBER 5, 2024

Consumers care about quality. From experiences to services to gear, for most consumers money spent on affordable, quality products is seen as money well spent. As a business, it’s important to maintain a high degree of quality. At the same time, you need to operate with a healthy profit margin and ensure your target audience can afford the solutions you’re offering.

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CreditStrong for Business

SEPTEMBER 17, 2024

A conventional home loan is the most common loan product offered by mortgage lenders, making up roughly 64% of the market. Conventional mortgage loans typically require higher credit scores than government-backed loans, but there are also many advantages to going with conventional mortgages. We’ll discuss these factors below. What is the Required Minimum Credit Score for a Conventional Loan?

Credit Scoring 96

Credit Scoring Credit and Collections Credit Unions Default 96

Abrigo

SEPTEMBER 17, 2024

Manage the impact of interest rate cuts at your institution These five tips from Abrigo expert Dave Koch will help banks and credit unions prepare for a rate drop. You might also like this on-demand webinar, "Navigating uncertain times: Strategies for effective risk management and compliance." WATCH Takeaway 1 As financial institutions anticipate rate cuts, many are questioning how to structure their lending and ALM strategies accordingly.

CECL 88

CECL Credit Unions Credit Risk 88

Accounting Department

SEPTEMBER 17, 2024

When you have a small or mid-size business, one of the issues you can run into is not having all the departments a larger company would have. In other words, you might not have dedicated employees for HR, accounting, and other areas. Fortunately, there are ways to outsource a number of services, including client accounting services. This helps keep your company growing and succeeding, without the need to bring on more employees or overwork yourself to get everything done.

Small Businesses 91

Small Businesses 91

RMAi Blog

SEPTEMBER 25, 2024

On September 24, 2024, Governor Gavin Newsom signed into law three consumer protection bills aimed at medical debt, commercial debt, and enforcement of money judgments. RMAI actively lobbied and were able to achieve amendments on all three bills. In the case of Senate Bill 1061, we were able to significantly narrow the scope of the term “medical debt” and withdrew our opposition.

Credit Reporting Agencies 130

Credit Reporting Agencies Medical Billing Debt Collections Credit and Collections 130

Grit

SEPTEMBER 5, 2024

The holiday shopping season is just around the corner, and Cyber Monday is one of the biggest days for eCommerce sales. As a BigCommerce store owner, preparing for Cyber Monday is crucial to ensure your online store is ready to handle the influx of traffic and orders. In this guide, our eCommerce experts share their top tips and strategies for optimizing your BigCommerce site to maximize your Cyber Monday sales.

Transactions 97

Transactions 97

Due

SEPTEMBER 24, 2024

Given the rising costs of higher education, saving for college is a vital goal. However, it is just one piece of the larger financial puzzle you must navigate. Retirement, emergency funds, debt repayments, and other obligations also actively compete for your attention and resources. Achieving this delicate balancing act requires a deep understanding of how different objectives can coexist harmoniously within a comprehensive plan.

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CreditStrong for Business

SEPTEMBER 6, 2024

A business loan can provide your company with financial solutions for many different situations. Yet before you can take advantage of thisl, you’ll need to figure out how to qualify for a business loan. Each lender has its own criteria when it comes to approving loan applicants. Below, you’ll find nine common business loan requirements that your company might need to satisfy to qualify for this versatile type of financing.

Credit Scoring 95

Credit Scoring Credit Unions Small Businesses Default 95

Abrigo

SEPTEMBER 30, 2024

Streamline fraud and AML efforts Financial institutions that combine fraud and AML/CFT alerts into a single transaction monitoring system can strengthen defenses and improve efficiency. You might also like this 6-step guide for compliance with new AML/CFT program rules. DOWNLOAD Takeaway 1 Shared AML case management helps streamline processes, reduce duplication, and improve communication between fraud and AML/CFT teams.

Transactions 78

Transactions 78

Credit Management Group UK

SEPTEMBER 15, 2024

We have recently introduced three new live online training courses. Our second one we would like to introduce is specifically for the Construction Industry. There is currently and introductory offer of £99 + vat. How to get paid in Construction Who will benefit? The course would be most beneficial for employees working in Account departments, project managers working for suppliers and sub-contractors to the construction industry.

Bad Debt 91

Bad Debt Credit Management 91

RMAi Blog

SEPTEMBER 13, 2024

In This Update With less than two months before the November elections, an air of uncertainty lingers throughout Washington. Regardless of the outcome in the U.S. House and Senate elections, current Members of Congress will hold a lame duck session that could be filled with activity. We’re likely to see utilization of the Congressional Review Act (CRA), an oversight tool that Congress can use to overturn final rules issued by federal agencies.

Collector 130

Collector Law Firms Credit and Collections Debt Collections 130

Grit

SEPTEMBER 8, 2024

You can transform this festive season into a profitable venture with the right Thanksgiving advertising ideas. BigCommerce offers a robust platform for implementing these ideas, and combining it with Atom8’s automation capabilities can elevate your advertising efforts. Here’s how to make the most of Thanksgiving advertising with BigCommerce and Atom8.

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Due

SEPTEMBER 17, 2024

Prospective homeowners have something to look forward to in the coming months. The average mortgage rate across the United States has started to decline in recent weeks, with experts suggesting this trend will continue well into the remainder of the year and much of 2025. Mortgage rates have been at historically high levels for much of the last couple of years.

Credit Scoring 98

Credit Scoring 98

CreditStrong for Business

SEPTEMBER 6, 2024

Startups often need funding to get up and running or gain additional traction. Generally, the best way to do that without giving up ownership of your company is to get a startup business loan. However, qualifying for a business loan can be challenging, especially for new startups without significant revenues or business credit history. Here’s a step-by-step guide to help you navigate the process, plus some alternative financing options you may want to consider.

Credit Scoring 94

Credit Scoring Credit and Collections Small Businesses Credit Unions 94

Abrigo

SEPTEMBER 24, 2024

When AI complements human decision-making Human oversight, often called a human-in-the-loop approach, remains important as AI increasingly enhances AML/CFT software. You might also like this checklist, "6 steps for compliance with the new AML/CFT program rules." DOWNLOAD Takeaway 1 A human-in-the-loop approach plays a vital role in ensuring that AI systems effectively support alert and case management for AML/CFT suspicious activity monitoring.

Transactions 78

Transactions 78