Telrock Systems

Telrock Systems Announces Latest Information Security Compliance Certifications Achieved Telrock Systems is proud to announce that it has attained independently assessed compliance with the Payment Card Industry Data Security Standards (PCI DSS) v4.0.1 standard as a Level 1 Service Provider as well as passed its annual SOC2 audit with no reported control gaps or exceptions. Read the full press release here: https://bit.ly/4fDs0Uq #securitycompliance #PCIDSS #SOC2 #informationsecurity #SaaS #cloudnative #collectionstechnology

From the entire Telrock Systems team, we extend warm Season's Greetings and Happy New Year to our business partners across the globe. We hope that you find peace and joy this holiday season and wish you a prosperous 2025. 

Reflecting on an incredible 2024 at Telrock Systems   As we approach the end of the year, it’s a perfect time to look back and celebrate the milestones we’ve achieved together at Telrock.   To our team: A huge thank you for your dedication, passion and effort. This year we enhanced our team with even more industry talent, further strengthening our ability to deliver cutting-edge solutions for our clients.   To our clients: We deeply value your trust and partnership. Supporting you as you navigate the evolving and changing nature of collection is at the heart of everything we do.   Major highlights of 2024: - Successfully launched our latest major release, Optimus V3, continuing to lead the market with the latest technology. - Achieved ongoing compliance with PCI DSS, specifically V4, reinforcing our continued commitment to the highest standards of information security. - Attended and spoke at some amazing events around the globe, connecting with peers and sharing insights about the future of collections.   As we look ahead, 2025 is shaping up to be an exciting year for us. Thank you to everyone who has been part of our journey, and we are only just getting started.   Wishing you all very happy holidays and a successful 2025.   #Reflection #ThankYou #Collaboration #Teamwork #Telrock

New Blog: Looking Ahead to Collections in 2025 – A Global View As 2024 draws to a close, the debt collection industry is navigating a complex landscape of economic pressures, evolving regulations and rapid technological advancement. To explore what lies ahead, we asked collections industry leaders Sacha Close, Phil McGilvray, John Sanders, Chris Warburton and Nick Georgiades to share their insights on key challenges and opportunities in 2025.   Key takeaways include: - The growing importance of modern collection platforms to enable digital adoption and compliance. - The continuing shift towards digital-first environments that empower customers to engage on their terms while driving more personalised journeys. - How AI advancements like Generative AI and Explainable AI could help shape the future of collections. - The need to constantly adapt to changing regulatory, economic and social conditions across the globe.   It's clear that while challenges remain, the industry will continue to embrace innovation and customer-centricity as it evolves.   Check out our full article to see how the industry in the UK, US, and Australia are shaping the future. https://bit.ly/4f01jbM   A huge thank you to our contributors! #collections #debtcollection

To our U.S. business partners, we pause during this week of Thanksgiving to express our sincere thanks to all of you. May this Thanksgiving be full of gratitude, happiness, and pleasant memories for you and your loved ones. Happy Thanksgiving from Telrock Systems!

Telrock's CSO Andrew Pritchard talks with Chris Warburton from RO-AR.com sharing his insights from over two decades in the debt collection technology industry. Andrew discusses where the industry has come from, trends over the last few years and what is coming for 2025. Most importantly, what clients should look for now when selecting a collections software partner.   A link to the full video - https://bit.ly/3YX4A5x   If you wish to discuss more, please get in touch with Andrew via LinkedIn or comment below your thoughts.   For more information on Telrock, visit www.telrock.com

Our Telrock team had a great day at the Credit & Collections Technology Think Tank event last week in Manchester hosted by Colin White and superbly chaired by Chris Warburton.    The day comprised of 4 panel sessions, which kicked off with Credit & Collections Risks - Assessing Affordability and Customer Vulnerability. An incredibly important topic in the current environment. Whilst the 'tsunami of debt' did not materialise in the UK post-covid and then the cost-of-living crisis, consumer funds remained very tightly stretched and there is concern that we may still yet see the delayed effects of these events. There is also a desire from lenders to have clear regulatory framework as recent changes vary from open interpretation / stylistic to highly prescriptive.   Session 2 moved onto Fraud's Impact on Credit & Collections - the Growth of Fraud. The panel discussed the ever changing and sophisticated fraud methods being used, the tools being employed to combat both 1st and 3rd party fraud, and how AI is being used both as a tool for fraudsters but also for those detecting and dealing with the impacts. Most concerningly is the rise of 'Synthetic Identities' which is likely to continue into 2025.   After lunch, session 3 focussed on Customer Engagement - What is the best customer contact strategy? The panel discussed how a blend of digital and human methods has given them the best outcomes. A digital approach is key, however not the only route to good outcomes for customers. Data capture is incredibly important, as is using this correctly to support analytics activity. Finally, building trust with the consumer base is of paramount importance, usually starting way before a collections event occurs.   The final Panel of the day saw Telrock's Andrew Pritchard join Emma Steeley, Mark Oppermann and Tamas Kopanyi to discuss The Role of Technology. This session brought together a lot of the themes from the day - discussing how far we have come from a technology perspective, including how modern true cloud-based platforms can support quicker change, adoption of new digital communication channels, and support better outcomes for creditors and consumers alike. Organisations adopting a digital-first approach are seeing huge advantages over those with only traditional methods. Over the last year, we have become more familiar with AI and the use cases that we are likely to see in the coming years, and where we still have to have balanced caution - especially where there could be the possibility of retrospective liability - heightened by recent rulings in the UK. During 2025 the panel felt that we would see more adoption of digital channels, the introduction of RCS messaging, more adoption of cloud technology and supportive technology through explainable AI.   The day finished with the Credit & Collections Industry Awards - huge congratulations to all the winners. Credit Connect UK #collections #collectionstechnology

Make sure to check out Andrew Pritchard at the Credit Connect UK event tomorrow speaking at 2:45pm! #collections #collectionstechnology

Two weeks now...Telrock's Andrew Pritchard will be speaking on a panel at the Credit and Collections Think Tank Conference 7th November in Session 4 at 2:45pm titled The Role of Technology. The other panelists joining him are Emma Steeley from Aro Finance Limited, Tamas Kopanyi from Monzo Bank, and Mark Oppermann from Webio. If attending, we would love to meet onsite. Email Andy at andrew.pritchard@telrock.com Credit Connect UK #Collections #CollectionsTechnology

To Buy or Build? The Smart Choice for Debt Collection Software As enterprise-level software development becomes increasingly accessible and affordable, you may be considering whether to build your own debt collection system rather than purchasing one. The need for effective management of consumers facing financial difficulties continues to grow amidst an increasingly complex regulatory landscape in all territories worldwide. Whether you are looking to replace your existing system, facing a lengthy conversion process, or contemplating a custom build, it’s essential to weigh your options carefully. Read our latest blog to help make that decision: https://bit.ly/4hfEtPK #debtcollection #collection #debtcollectionsoftware