Credit Card Issuers Take a Hard Look at the Soft Side of Collections; Bank of America Puts the Web to Work as a Customer-Friendly Collections Tool.Business Editors Credit card issuer Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. is proving that when it comes to collections, it pays to play nice, easy and online. That's why the company launched MyEasyPayment.com, a self-service Web site that allows delinquent delinquent 1) adj. not paid in full amount or on time. 2) n. short for an underage violator of the law as in juvenile delinquent. DELINQUENT, civil law. He who has been guilty of some crime, offence or failure of duty. cardholders to work out a payment plan online. Designed and developed by Douglas-Danielle, Inc., a Chicago-based direct marketing solutions provider, Bank of America uses www.MyEasyPayment.com to target people who are delinquent on their credit card payments. The site was launched late last year. With $3 million in delinquent payments received through the site as of this past May, MyEasyPayment.com already has proven itself a viable collections tool. Robert Box, Bank of America president, consumer-risk operations, recently told the Wall Street Journal that, "Some of these customers are not comfortable talking live to an associate. They are more comfortable doing it electronically." Only customers with decent payment histories and bills that are slightly overdue OVERDUE. A bill, note, bond or other contract, for the payment of money at a particular day, when not paid upon the day, is overdue. 2. The indorsement of a note or bill overdue, is equivalent to drawing a new bill payable at sight. 2 Conn. 419; 18 Pick. are directed to the Web site. Upon logging in A colloquial term for the process of making the initial record of the names of individuals who have been brought to the police station upon their arrest. The process of logging in is also called booking. , they are taken through a fast, focused process. Customers are asked to indicate the reasons behind their delinquency delinquency Criminal behaviour carried out by a juvenile. Young males make up the bulk of the delinquent population (about 80% in the U.S.) in all countries in which the behaviour is reported. and agree to recommended alternate payment terms. They can make a payment over the Web site via electronic check transfer or specify the day on which payment will be made. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Mike Browning Mike Browning(born 1964) is an American metal drummer and vocalist. He is perhaps best known for being the former drummer/vocalist for death metal pioneers Morbid Angel. He played in the band from 1984 to 1986 and made one official recording with them, the , president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Douglas-Danielle, MyEasyPayment.com leverages the inherent value that the Internet brings to direct response marketing: increased results at reduced costs. "Costs to develop and maintain a Collections Web site are much lower than costs associated with other channels such as call centers," says Browning. "And consumers find the site to be a less confrontational and much more comfortable way to address what normally is an uncomfortable situation." The Collections Web site is one of several SMARTSite solutions offered by Douglas-Danielle that are designed to help marketers plan, launch, fulfill ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. and track direct response campaigns across multiple channels. Other SMARTSite solutions support acquisition, activation, usage and cross-selling initiatives. For additional information, please contact Matt Pavledakes at 312.529.1014, mpavledakes@douglas-danielle.com or go to www.douglas-danielle.com. Douglas-Danielle is a direct marketing solutions provider that generates immediate, measurable and improved sales results by combining Internet and database technologies with traditional direct marketing methodologies. In addition to providing clients with marketing services and technology solutions, Douglas-Danielle offers a suite of SMARTSite products designed to enhance any direct marketing initiative. NOTE TO EDITORS: To schedule an interview with Mike Browning, president and CEO of Douglas-Danielle, regarding the Bank of America Collections Web site or other direct marketing trends and innovations, contact Matt Pavledakes at 312.529.1014 or mpavledakes@douglas-danielle.com |
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