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Perspectives from the NCBA Spring Conference: Compliance and Efficiency are Key

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The National Creditors Bar Association (NCBA) held its spring conference in Orlando from May 19th-21st. The NCBA is a bar association serving creditors rights law firms. NCBA members represent collection agencies, debt buyers and sellers, or creditors.

I spent time talking with attorneys and other vendors about how DRN’s data and analytics platform can help them be successful. The two biggest topics I heard in my discussions were compliance and the growing need for efficiency.

Regarding compliance, the NCBA actively monitors changing laws to help member attorneys stay current on rulings and legislation that affect the collections industry. However, I found that others in the industry – specifically creditors, debt buyers and forwarders – are looking for tools to help ensure their internal processes and practices are up-to-date and working properly from a compliance standpoint. 

The other resounding theme is need for efficiency, especially in the current post-pandemic environment. Businesses across the industry are dealing with smaller staff numbers and often less tenured employees, so bringing in tools that can help do more with less is a critical need.

I took several attorneys through demos of DRNsights, our proprietary data analytics platform driven by a database of billions of historical license plate location scans plus public record data. They could see the power of the platform first-hand and how we use data to locate individuals quickly using Skip Trace and other solutions. The excitement level was high, as they could see a huge efficiency gain in service and collection rates using DRN scored addresses and location information. Time to locate and number of service attempts decrease while service rates and collections increase, making everyone more successful.

If you’re ready for a demo or to talk about how DRNsights can help you with compliance, efficiency or other business needs, please contact me at fbooker@drndata.com.  

–   Fred Booker, Senior Channel Account Manager, FinTech