As the holiday season ramps up, so does consumer spending…and financial stress. From travel expenses to gift-giving splurges, borrowers often face sharp increases in personal debt as we near the end of the year. These behaviors have a direct impact on loan payment behavior, leading to increased late payments, higher default risk and an overburdened servicing staff.

Delinquent payments affect revenue timelines and require coordination across servicing, compliance and finance teams. Failed attempts add manual effort, borrower outreach and reconciliation work.

Borrowers have changed. Has your payment strategy?

Today’s increasingly complex automotive lending environment presents challenges both new and old for dealerships and their financial partners. While auto loan debt is nothing new, economic hardships for many consumers paired with the rising cost of vehicles is increasing the risk of delinquencies for borrowers of all types. Auto loan debt has reached levels higher than those of the pre-pandemic market, including for prime and midprime borrowers. With interest rates expected to remain at relatively high...

For collection agencies, control and reliability aren't optional. They're mission critical.

In the fast-moving world of accounts receivable management, your ability to collect payments quickly, securely and without disruption is the lifeblood of your business. But behind the scenes, what really determines the strength of your payment operations? Choosing the right payments partner – and that comes down to three foundational pillars:

1. Owning the payment technology from end to end
2. Having multiple,...

Consumer financing is evolving rapidly, and with it, the expectations around loan payments. Borrowers demand seamless, digital-first experiences, but lenders must also navigate a complex web of regulatory requirements. 

Managing mortgage payments has long been a challenge for both borrowers and lenders. Complex payment systems, limited communication and inefficient processes often lead to frustration on both sides of the transaction. 

This blog article was originally published on July 31, 2024. It was last updated on January 16, 2025. 

The Small Dollar Lending Rule (the Rule), established by the Consumer Financial Protection Bureau (CFPB), aims to protect consumers from the potentially harmful practices associated with payday loans, vehicle title loans, deposit advance products, and certain high-cost installment loans.

In the highly competitive lending industry, lenders face the dual challenge of ensuring comprehensive risk assessments to safeguard their business while also delivering a seamless, positive experience that keeps customers satisfied and loyal. This delicate give-and-take directly impacts customer retention, regulatory compliance and overall business growth.

In the lending industry, risk management isn’t just a precaution—it's a necessity. Effective risk management ensures the stability and growth of lending institutions by protecting against potential financial losses and operational disruptions.