Neustar and MRS Implement Phone Intelligence and Email Verification To Optimize CFPB-Compliant Outreach

RESTON, Va. —  MRS
BPO LLC, a leading provider of services to the accounts receivables
management industry, has adopted Neustar
Inc. contact intelligence solutions to improve its omnichannel
outreach strategy – increasing right-party contact rates, reducing operational
costs and maintaining compliance in the forthcoming CFPB
Regulation F environment.

Neustar Phone
Behavior Intelligence delivers the best time of day and day of
the week to call each consumer, based on when they are most likely to answer,
as well as the best phone number to use when reaching out to each individual.
Neustar also verifies correct email addresses and offers insights into the most
active address for each contact, allowing MRS BPO to quickly prioritize the
best email address to complement their phone outreach efforts.

The Consumer Financial Protection Bureau’s new Regulation F
stipulates that a collector may not place more than seven calls within seven
consecutive days to a single consumer or call a consumer more than once within
a seven-day period after communicating with that individual; however,
collectors may still send consumers SMS and email messages. Communication via
digital channels (when consent is provided) can enable more efficient
interactions, particularly with younger consumers who prefer digital outreach.

“By limiting the number of calls a debt collector may place to a
given individual, the CFPB’s Regulation F increases the value of every contact
attempt and encourages collectors to prioritize accuracy,” said Robert McKay,
senior vice president and general manager of Risk Solutions at Neustar. “This
emphasis on quality over quantity is leading forward-thinking collectors like
MRS to embrace data-driven omnichannel contact strategies. Operationalizing
digital channels to complement the phone channel enables collectors to increase
the efficiency and effectiveness of their outbound communications while also
reducing compliance and financial risks.”

“Consumer information is continually changing, so outreach files
often contain multiple email addresses and phone numbers collected over time.
Knowing an individual’s primary or preferred number and email, and when they
are more likely to be engaged, makes a significant difference in the contact
rate,” said Jim Beck, COO at MRS. “Neustar intelligence solutions will help us
assess and improve the quality of our current consumer contact information,
allowing us to anticipate challenges, implement a more successful omnichannel
communication strategy and increase right-party contact rates while remaining
compliant with regulations.”

MRS immediately saw that 8% of the numbers they were dialing
were dials with a low probability of contacting a customer. Redirecting those
efforts to higher score phone numbers lead to a contact rate increase of 15% in
the first month.

Neustar outbound solutions are part of the TRUSTID Contact Center
Solutions suite. These solutions are powered by the Neustar
OneID identity resolution platform, which gives businesses a single
holistic, connected view of their customers across all communication channels,
both online and offline. OneID continuously corroborates, validates and appends
missing information across customer records, enabling organizations to more
easily reach their customers via the right channel at the right time.

For more information about Neustar contact intelligence
solutions for the collections industry, visit https://www.discover.neustar/prepare-for-fewer-collectors-and-more-accounts-contact-request.html.

About MRS BPO

MRS BPO LLC is a full-service accounts receivable management
firm that offers pre-chargeoff collection and post-chargeoff recoveries
services to a variety of industries. Founded in 1991, it has grown from a
small New Jersey-based agency to a large market provider with facilities
in New Jersey, Ohio and Alabama, servicing over 60 clients in the
financial services, automotive, marketplace lending, telecommunications, cable
and municipal sectors. MRS has been recognized by many of its Fortune 50
clients for its commitment to compliance, quality and best-in-class technology
solutions. For more information, visit https://www.mrsbpo.com.

About Neustar

Neustar is an information services and technology company and a
leader in identity resolution providing the data and technology that enable
trusted connections between companies and people at the moments that matter
most. Neustar offers industry-leading solutions in marketing, risk,
communications and security that responsibly connect data on people, devices
and locations, continuously corroborated through billions of transactions.
Neustar serves more than 8,000 clients worldwide, including 60 of the Fortune
100. Learn how your company can benefit from the power of trusted connections
here: home.neustar.