Beyond Recovery Rates: Why Data Protection Should Guide Your Collections Agency Decision
When choosing a commercial collection agency, many businesses focus on recovery rates, industry experience, and client service. But in today’s digital-first, risk-sensitive environment, there’s another non-negotiable consideration: secure debt collection services. Collection agencies manage some of your most sensitive information—financial records, account histories, and personal data. That makes your partner’s cybersecurity posture just as critical as their ability to collect. No matter the size of your business, you need to be proactive about cyber protections. The rise in data breaches—and the eye-watering costs associated with them—demands it. According to Thomson Reuters, the average cost of a data breach in 2024 soared to $4.88 million —a 10% increase from the previous year. The debt collection industry has not been immune to this trend and faces growing risks from cybersecurity threats. What to Look for in a Secure...
