Tough market conditions continue to pressure third-party collections companies to improve operating margins and leverage a variety of technologies to their fullest capacities. However, many firms lack some of the basic technologies used, and many are slow to adopt others. Technology matters, and some collections companies are doing a better job than others in leveraging its capabilities.

This report, sponsored by TransUnion, is the second in a two-part series that provides the latest annual look at the trends, challenges, and opportunities in the U.S. third-party collections industry. It focuses on the tools, technologies, and communications methods used by third-party collection agencies and discusses areas for improvement and challenges facing the industry. It primarily leverages Datos Insights’ survey results of 212 third-party debt collection professionals conducted in late Q2 2023.

Clients of Datos Insights’ Retail Banking & Payments service can download this report.