Compliance in last few years has gained significant prominence in Collections. While everybody is trying to ensure adherence to the same, Compliance is every growing and changing by every passing day.
Right from Lenders to Collections Vendors everyone is trying to ensure compliance is met but what are few of the major regulations that Collections has to follow?
Here are few Major ones ;
- Fair Practice Code
- Due Diligence of Agents
- Notice to Borrower about Collection Agents
- Appropriate Authorisation for Collection Agents
- DRA Certification for Collection Agents
- Call Recording of Conversation between agent an Borrower
- Posting list of Collections agencies on Lenders website
- No Coercive methods to collect
- Time to connect between 8 AM to 7 PM
- Audit Trails
Besides these there are new age laws around Data Protection, Data Privacy and others. There are also labour laws and taxation laws which are indirectly application to Collections Agencies which many of them are now aware of.
Going ahead Compliance is going to become one of the most critical elements for lenders to select their Collection vendors.
Hence it is going to be imperative for Collections Agencies to know their compliance and asses where they are, try to plug in the gap and become Compliance Ready.
Where are you in the Compliance Journey on Scale of 1-10 according to you?
YuCollect helps you get your Collections Agency Compliant on all the above parameters in one single login.
About YuCollect:
Debt collection is the backbone of a stable financial ecosystem, ensuring liquidity and the smooth flow of credit. However, the industry has long struggled with fragmented processes, lack of transparency, and compliance challenges.
YuCollect is changing that.
As Unified Collections Infrastructure, YuCollect provides a unified, digital-first platform where lenders and collection agencies collaborate seamlessly. By offering real-time transaction visibility, compliance-driven operations, and digital collection solutions, we are revolutionizing how debt recovery is managed.
With a presence across 18,000+ pincodes, YuCollect is bridging the gap between lenders and agencies, ensuring efficiency, cost reduction, and regulatory adherence in every transaction.
For Lenders: Discover & Work with Top-Performing Agencies
- Access a vast network of compliant, trusted agencies across India.
- Maintain full transparency & governance over collections.
- Optimize costs & efficiency through digital collection tools.
For Collection Agencies: Unlock Growth & Improve Compliance
- Find new business by partnering with lenders you haven’t worked with before.
- Ensure regulatory compliance with automated audit & governance tools.
- Leverage digital collections (WhatsApp, IVR, Email, SMS, Bots) for faster recoveries.
- Seamlessly manage & track allocations across multiple lenders on one platform.
- Hire & train DRA-certified agents effortlessly.
- Monitor field agents in real-time for performance & compliance.
Part of the Yubi Group
YuCollect is backed by Yubi, a technology leader in end-to-end debt lifecycle management, from risk assessment to lending and collections.
$1.5B Valuation | ₹1,40,000 Cr+ Debt Facilitated | 17,000+ Enterprises | 6,200+ Lenders
Join us as we reshape the future of debt collections with efficiency, transparency, and compliance at the core!
