BEDFORD, Mass., Feb. 3, 2009 (GLOBE NEWSWIRE) -- The current economic crisis has negatively impacted the ability of millions of consumers to make timely payments on their mortgages, automotive loans, credit cards and student loans. For the first time in their lives, many Americans will default on their loans and enter into the collections cycle. As a result, collections has become a critical function for lenders to stay afloat in today's financial storm while setting the stage for stronger performance long after the current economic crisis has subsided. Decreasing delinquencies and preventing further losses are top priorities for financial services organizations.
On Wednesday, February 11, 2009, Edgar, Dunn & Company and SoundBite Communications, Inc. (Nasdaq:SDBT) will host a one-hour webinar to address seven cost-effective steps that lenders can take to maximize collections activity and minimize risk. Webinar attendees will receive a complimentary whitepaper, "Collections in Turbulent Times: Survival Strategies for Financial Services Organizations," authored by Ann Schmitt of Edgar, Dunn & Company.
"As the economy declines, even good paying customers may be slower to pay. As a result, collectability has become a larger issue for lenders. Organizations need to accelerate the collections cycle and challenge conventional wisdom," said Ann Schmitt, director at Edgar, Dunn & Company. "This webinar will discuss innovations in the collections process and actionable best practices that can be adopted by organizations across a number of industries."
"Today's economic landscape has transformed collections from tactical to highly strategic," said Mark Friedman, chief marketing and business development officer at SoundBite. "SoundBite's vast experience working with clients in multiple vertical markets across all types and stages of debt, combined with our consultative engagement process, enables us to guide our clients to attain the collections results they seek."
REGISTER AT: http://www.soundbite.com/news-and-events/webinars WHEN: Wednesday, February 11, 2009 2:00 p.m. ET/11:00 a.m. PT WHAT: Webinar attendees will gain specific industry knowledge to understand: * Why communicating early and often can maximize wallet share and decrease delinquent accounts * What sophisticated contact strategies can be used based on best practices in scripting, delivery channels and frequency * What pre-collections strategies strengthen future collection activities * How portfolio segmentation strategies can influence timely payment behavior
About SoundBite Communications, Inc.
SoundBite Communications provides on-demand, integrated multi-channel communications solutions that enable clients to achieve superior business results. Building on its foundation as a leading provider of automated voice messaging services, SoundBite offers integrated voice, text and email messaging solutions that help clients deliver the right message, to the right customer, using the right channel, at the right time. Organizations in industries such as collections, financial services, retail, telecom and media, and utilities rely on the SoundBite Intelligent Communications Platform to send over a billion messages annually for collections, customer care, and sales and marketing applications. For more information, visit http://www.SoundBite.com.
SoundBite is a registered service mark of SoundBite Communications, Inc.
About Edgar, Dunn & Company
Edgar, Dunn & Company (EDC) is an independent global financial services and payments consultancy. Founded in 1978, the firm is widely regarded as a trusted advisor to its clients, providing a full range of strategy consulting services, expertise and market insight. Global capabilities include in-depth industry and consumer benchmarking, as well as strategy, risk management, marketing, profitability improvement, operations, and new products and technologies consulting. With locations in Atlanta, Frankfurt, London, Paris, San Francisco, Singapore and Sydney, EDC serves clients in over 30 countries on six continents. More information can be found at www.edgardunn.com.
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