Executive Spotlight with Mitchell Young

Mitchell Young with TransUnion featured on Executive Spotlight

What are your primary duties in your current role?

Vice President, Diversified Markets. I lead Sales and Market Strategy across several verticals including Collections, Technology/Retail/eCommerce, and Data Services.

Industry Q&A:

How did you join the receivables industry?

I have worked at Neustar for over 20 years (now part of TransUnion). The company, which provided Identity and Telco-based solutions, served many markets. I supported Technology, Internet and Data markets. We did not support the receivables market. In 2012, the TCPA regulation was updated and it brought large class-action lawsuits across all industries that dialed consumers. At that time, the receivables industry was driven by ‘data quantity’ vs. ‘data quality.’ To avoid lawsuits, there was a need for a current and accurate data source that could verify a consumer still belonged to a mobile phone. Neustar had that data and we were able to help the industry transform from a scattershot to a precision outreach effort. We’ve been innovating ever since and we’re now part of TU with a much broader solution set.

In the receivables industry, what emerging trend has your attention?

The shift from a ‘persistence’ to a multi-channel ‘engagement’ outreach strategy. Reg F has limited dial attempts. Our clients are now using Email, Self-Service Portals, Websites, and Texts, along with Letters and Calls where they deliver their name on Mobile CallerID. It’s a big shift from relying on anonymous phone calls. Consumers don’t trust or answer unknown calls. Marketing research shows it takes at least seven interactions for a consumer to know or recognize a company. Now, all these outreach efforts are used to build trust and engagement. Calls are considered wasted dials if they don’t deliver your name so a consumer knows they need to engage with you. I believe those that excel at engagement will emerge as the next industry leaders.

What are your hopes for the receivables industry?

I hope the industry, which is critical to a healthy financial ecosystem, can continue to evolve to meet consumer preferences and regulations. The younger digital generations will require further innovation on interaction and engagement.

What is your favorite part of working at your company?

Solving problems with data. The evolution of identity data has been so interesting. We work with companies across so many markets — from start-ups to Fortune 1000 companies — and I’m always excited to dive into new issues and tackle new applications.

Professional Motivation & Inspiration:

Share a quote that motivates or inspires you:

“I am not bound to win but I am bound to be true. I am not bound to succeed but I am bound to live up to what light I have.”

— Abraham Lincoln

What is the best piece of advice you have ever received in life?

You only regret the things you don’t try.

What are you most proud of, or what is your biggest accomplishment?

I can explore that question through so many different lenses. I’ll share this: when I graduated from college, I spent a year backpacking around the world with my closest high-school friend. It reminds me of another quote: “If I don’t have the time to live my life well the first time, when am I going to find the time to go back and live it over?”

Personal Q&A:

As a child, what did you want to be when you grew up?

Definitely third baseman for the Philadelphia Phillies!

If you work from home, what is the best thing about your home office setup/working from home? And if you work in an office, what is your favorite part of working in the office?

My guitar. It’s nice to take a quick break here and there.

What is your favorite book, movie, TV show, podcast, or music genre?

The Amazing Adventures of Kavalier & Clay by Michael Chabon

People would be surprised if they knew…

I was a gear-tester for Backpacker magazine. And I met my wife white-water kayaking. I love the outdoors, and the outdoors have been good to me!

Do you have a pet? If so, what kind and what’s their name?

We have two rescue mutts – Tilly and Max!

About Latitude by Genesys

TransUnion is a global information and insights company that makes trust possible in global commerce. The organization does this through a Tru™ picture of each person: an actionable view of each consumer based on a robust set of online, offline, public, and proprietary information, stewarded with care. TransUnion’s status as a global insights company extends into the collections landscape with its first and third-party collections department. Their recovery teams help improve portfolio performance and recovery through a smarter debt recovery method powered by the Tru platform.

Published On: May 27th, 2024|Categories: Executive Spotlight|Tags: , , |

Related Posts