February 23, 2022 –The third-party collections industry has been on what one industry thought leader termed “a roller coaster ride,” with many peaks and valleys since the start of the pandemic. Despite the current volatility, a significant share of the industry believes that 2022 will present challenges as well as opportunities for their company to grow.
This Impact Report, sponsored by TransUnion, documents the experiences of the third-party collections industry over the past year, including overall trends impacting the industry, top-of-mind challenges, and opportunities they hope to seize. Aite-Novarica Group conducted a quantitative survey of third-party debt collection professionals in Q3 2021, as well as 12 interviews of thought leaders in the third-party collections industry during Q2 and Q3 2021 that includes regulators, consumer advocates, vendors, trade associations, and leading collection agencies.
This 56-page Impact Report contains 45 figures and one table. Clients of Aite-Novarica Group’s Retail Banking & Payments service can download this report and the corresponding charts.