locate-connect-verify: high-tech solutions in collections lynn heinemann, vice president of sales -...
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Locate-Connect-Verify:High-Tech Solutions in
Collections
Lynn Heinemann, Vice President of Sales - Account Control Technology, Inc.
Doug Hendrickson, Director of Educational Services – VeriFacts, Inc.
Chris McMillan, Director of Sales - LiveVoxDave Pauken, CEO - Convoke Systems
Skip Tracing
Doug HendricksonDirector of Educational
Services – VeriFacts, Inc.
Why is Skip Tracing Important?
Whether you use locate information to drive contact efforts or for asset identification, skip-trace information is a critical component that can help drive collection and recovery dollars.
2013 Knowledge Symposium November 5-
7, 2013 ● St. Pete, Florida
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Why is Skip Tracing Important?
The first, and most critical, step to any successful default prevention/default collection effort is the ability to contact (locate) the borrower. If you are unable to contact (locate) the borrower, you are unable to communicate with that borrower regarding the status of their student loan(s).
2013 Knowledge Symposium November 5-
7, 2013 ● St. Pete, Florida
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Building Your Skip Trace Waterfall
More isn’t always better.Make sure your skip trace
waterfall meets your needs and isn’t duplicating internal processes.
How does using a dialer or not using a dialer impact your skip trace waterfall needs?
2013 Knowledge Symposium November 5-
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Building Your Skip Trace Waterfall
Make sure your skip trace waterfall levels complement each other.
Top level raw data scrubs of a portfolio are cost effective and can cover a high volume at a cheaper rate. However, the data is not verified in these data scrubs.
2013 Knowledge Symposium November 5-
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Building Your Skip Trace Waterfall
As you mine down into your portfolio, manual skip tracing is more effective. Although manual skip tracing is more expensive, the data is verified.
2013 Knowledge Symposium November 5-
7, 2013 ● St. Pete, Florida
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Social Media
Social media search is more prevalent today than ever before.
Automated screen scraping violates most site user policies. However, the info is publicly viewable.2013 Knowledge
Symposium November 5-7, 2013 ● St. Pete,
Florida
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Social Media
Manual search acceptable, no adding as a friend.
There is really no legal precedent to date regarding using social media as a skip tracing tool.2013 Knowledge
Symposium November 5-7, 2013 ● St. Pete,
Florida
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Vendor Outsourcing
ALWAYS vet your skip trace vendors adequately.
With the CFPB’s focus on creditors today, creditors are now starting to look at 4th party vendors as an area of risk.2013 Knowledge
Symposium November 5-7, 2013 ● St. Pete,
Florida
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Vendor Outsourcing
Creditors need to make sure their vendors are certified/compliant with all applicable state and federal laws, including but not limited to:– Gramm-Leach-Bliley Act
(GLBA)– Fair Debt Collections
Practices ACT (FDCPA)– Fair Credit Reporting Act
(FCRA)– Federal Information
Security Management Act (FISMA)
2013 Knowledge Symposium November 5-
7, 2013 ● St. Pete, Florida
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Vendor Outsourcing
Creditors need to make sure their vendors are certified/compliant with all applicable state and federal laws, including but not limited to:– National Institute of
Standards and Technology (NIST)
– Health Insurance Portability and Accountability Act (HIPAA)
– Telephone Consumer Protection Act (TCPA)
2013 Knowledge Symposium November 5-
7, 2013 ● St. Pete, Florida
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Vendor Outsourcing
Creditors also need to make sure their vendors are certified/compliant in the following areas:
– PCI DSS 2.0 (coming out with 3.0)
– SSAE 16 (not as in depth as PCI, but deals with management standards)
2013 Knowledge Symposium November 5-
7, 2013 ● St. Pete, Florida
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Vendor Outsourcing
Other areas creditors need to review:– On site business validation
and security assessment.– Surveys need to be
completed particularly for newer companies that may not have audits completed yet.2013 Knowledge
Symposium November 5-7, 2013 ● St. Pete,
Florida
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TCPA Challenges to the Collection Industry
The most frustrating and confusing issue facing creditors today is the degree to which telephony equipment may be used to call mobile phones. This topic continues to be a huge debate regarding “preview” dialing vs. manual dialing.
2013 Knowledge Symposium November 5-
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TCPA Challenges to the Collection Industry
The TCPA has increasingly become a target for consumers and their attorneys for suits aimed at collection agencies. 2013 year-to-date TCPA suits are up 70 percent from 2012. (insideARM.com October 22, 2013)
2013 Knowledge Symposium November 5-
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TCPA Challenges to the Collection Industry
2013 Knowledge Symposium November 5-
7, 2013 ● St. Pete, Florida
Source: insideARM.com
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TCPA Challenges to the Collection Industry
The Third Circuit Court of Appeals held that the Telephone Consumer Protection Act (47 U.S.C. § 227) allows a consumer to revoke her prior express consent to be called using an auto dialer or prerecorded voice.
2013 Knowledge Symposium November 5-
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TCPA Challenges to the Collection Industry
In its decision, Gager v. Dell Financial Services, the Circuit Court reversed a district court’s earlier finding that once a consumer provided consent to receive autodialed or prerecorded calls, a consumer cannot later revoke the consent.
2013 Knowledge Symposium November 5-
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TCPA Challenges to the Collection Industry
Persons using auto dialer technology or prerecorded messages are required by the TCPA to obtain the “called party’s” “prior express consent” before making their calls. While some types of calls are excepted from this requirement, telemarketing and debt collection calls are subject to the TCPA. (insideARM.com August 29, 2013)
2013 Knowledge Symposium November 5-
7, 2013 ● St. Pete, Florida
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TCPA Challenges to the Collection Industry
In Nelson v. Santander, a Court held that preview dialing (using a dialer with human intervention) violated the TCPA due to the capacity of the telephone system used. That order was subsequently vacated, leaving debt collectors to question the efficacy of preview dialing. (insideARM.com September 25, 2013)
2013 Knowledge Symposium November 5-
7, 2013 ● St. Pete, Florida
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TCPA Challenges to the Collection Industry
Creditors cannot accidentally call the wrong consumer cell # on a number that HAS express consent. If a borrower’s old cell # has been re-assigned by the cell provider, express consent is no longer valid. Creditors today are trying to scrub the “express consent” portion of their portfolio to minimize situations like this.
2013 Knowledge Symposium November 5-
7, 2013 ● St. Pete, Florida
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New Skip Trace Technology Designed to Combat TCPA Challenges
VeriFacts understands this challenge to the creditor industry and is currently developing a product that will assist creditors scrub the “express consent” portion of their portfolio as a proactive check and balance.
2013 Knowledge Symposium November 5-
7, 2013 ● St. Pete, Florida
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Questions?
2013 Knowledge Symposium November 5-
7, 2013 ● St. Pete, Florida
VeriFacts, Inc.800.542.7434
www.verifactsinc.com
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Cloud Contact Center Solutions
John McNamara, Chief Marketing Officer - LiveVox
2013 Knowledge Symposium November 5-
7, 2013 ● St. Pete, Florida
LiveVox Private VoIP Cloud ™ Functionality
ACD/PBX
Predictive Dialer
IVR
Applications
Features Benefits
Redundancy Eliminates single points of failure
Cloud Integration
Faster application deployment across sites
Centralized Control
Faster and easier change management
New Feature Upgrades
Keeps pace with changing business needs
Features Benefits
Cloud Capacity Provisioning
Fully burstable, addresses contact center seasonality
Portability Ensures optimal licenses and technology across locations
Cloud-Based Switching
Global load balancing enabled through network-layer, real-time presence, routing & screen pops
PCI-DSS Certification Simplifies multi-site security
Call Recording
Configuration Manager
Campaign Manager
Compliance Suite
Real-Time Reporting
Business Analytics
Call Scripting
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Impact of LiveVox on Today’s Market
Redefining What is Possible
Point of Efficiency
Status Quo: Stagnation
Where Cost Outweighs Benefit
Impact of LiveVox:
New levels of Growth
LiveVox removes the cost and complexity of scaling across multiple sites/applications – enabling global contact centers
to realize new levels of growth and profit.27
VS.
LiveVox’s Cloud Based Platform Provides
Enables Network SimplicityCloud Enabled SimplicityPremise-Based Complexity & Silos
Global virtualized Queue Management, Visibility & Unification
Real-time Burstable Capacity & Campaign Configurations
Fully Redundant, Scalable PCI-Certification & Compliance Suite
Single point of integration for rapid application adoptions
STRATEGIC BENEFITS:
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Impact of Cloud Integration
Cutting Speed To Market Up To 80%
Why have integrations required so much time?Managing an ecosystem of hardware technology is similar to linking compounding mismatched puzzle pieces. Introducing a new application requires individual configurations and integrations – costing resources and time.
Simplicity is the key to rapid speed to market.LiveVox Cloud simplifies the ecosystem, providing a single point of universal integration – for all applications, existing and new. Eliminating complexity removes the root cause of integration delays, shrinking adoption times by up to 80%
2013 Knowledge Symposium November 5-
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Phone Dialing Attempt Supervisor (PDAS)
Multi-factor compliance database check
Summary
• Compliance dial levels and “Max attempts” change frequently
• Unique rules at state, area code, zip code, or municipality
• Unrestricted dialing resulted in compliance gaps and risk
Solution• Leveraged LiveVox dialing platform and APIs
to integrate with client compliance databases for multi-factor checks
• Integration completed within 60 days
2013 Knowledge Symposium November 5-
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Enabling Unprecedented Speed To Market: Big DataLiveVox’s Cloud integration capabilities dramatically simplifies and accelerates 3rd party application adoption
A leading global BPO service provider with a global network of 100+ contact centers with more than 24,000 agents in 11 countries
ABOUT:
Goal: Adopt a cutting edge 3rd-party personality matching application across multiple sites & business lines
An accounts receivables company with over 1,300 agents across multiple sites, servicing over 2 million Americans
ABOUT:
Goal: Integrate Speech Analytics across all operations to mitigate compliance risk
Achievement with LiveVox
LiveVox employs a team of integration experts that collectively boasts over 100+ years of experience in contact center technology
LiveVox completed the integration across all desired functions and locations within 45 days
Achievement with LiveVox
LiveVox’s provides 100% call recording that enables comprehensive data for effective speech analytics
LiveVox helped the company integrate speech analytics across the entire enterprise within 30 days
2013 Knowledge Symposium November 5-
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Enabling Unprecedented Scalability: Multi-Site Centralization
From Franchise Model to Centralized Operations
A preeminent debt buying organization with a partnership network of approximately 1,300 outbound agents distributed across 32 individual contact centers
Business sought to streamline all contact centers under a centralized operation
LiveVox leveraged MPLS carrier interoperability and multi-site configurations to unify all operations
Complete enterprise distributed control, visibility, management, and reporting
Standardized procedures and service levels across the enterprise
Virtualized, real-time enterprise network deployment and management
Increased compliance mitigation across all operations
Integrating Operations After an Acquisition
Leading hospital receivables management outsourcing company with 200+ agents across 3 contact centers
Company made a recent purchase, acquiring 2 additional contact center operations
Working with LiveVox, the company sought to integrate the additional operations with heterogeneous workstations into a single platform
Within 30 days, LiveVox migrated all operations, agents and workstations into a single, uniform platform
Company avoided historic integration and resource requirements of assimilating multiple sites and applications
Rapid migration enabled the company to quickly streamline and expand business opportunities
RESULT RESULT
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Convoke Systems
Dave PaukenCEO - Convoke Systems
Industry Problems We Work To Solve
Service Provider Oversight: Overseeing vendor adherence to contracts & regulations– Ability for issuers to receive, store, measure, analyze, audit, and report
on servicers– New CFPB requirements for banks, nonbanks, and supervised service
providers– Adherence to service level agreements (SLA)
Information Supply Chain: Problems with flow of information in collection systems– Issuer to servicer supply chain– Servicer to issuer and issuer to servicer supply chain– Information mobility across channels and service providers
Regulation: Increasing regulation resulting from information supply chain breakdown– Collection activities– Complaints and disputes– System of record discrepancies
2013 Knowledge Symposium November 5-
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Convoke OverviewWhat We Do
– Information supply chain solution– Inter-company exchange of information between 3rd
parties– Audit and edit functionality– Vendor oversight and regulatory compliance
Initial Market Focus– Agency, legal, and asset sales (debt buyers)
Market Adoption– Customer relationships with major credit issuers– 5 legal networks, 50 state level attorneys, another 50
onboarding– Over 100 registered debt buyers
2013 Knowledge Symposium November 5-
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Operating Metrics
MetricDec 2011
Dec 2012 Oct 2013
Accounts on Convoke 6.2M 8.4M 11.1M
% Increase 35% 32%
Documents on Convoke 782K 2,132K 10,217K
% Increase 173% 379%
Supported Documents 3 20 53
% Increase 567% 165%
Total Network Size 25 72 142
% Increase 188% 97%
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Documents Supported By Convoke
Issuer Documents
1) Access Check
2) Affidavit
3) Application
4) Credit Agreement
5) Chain of Title
6) Change in Terms
7) Monthly Statement
8) Payment Copy
2013 Knowledge Symposium November 5-
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Legal Channel Documents1) Answer 2) Attorney Representation
Notice 3) Cease & Desist Notice 4) Closure Notification 5) Complaint 6) Complaints Response 7) Continuance 8) Counter Claims 9) Court Motions 10) Debtor Correspondence 11) Default Affidavit 12) Demand Letter 13) Discovery 14) Dismissal 15) DOD Active Service
Verification 16) Firm Correspondence 17) Garnishment Order 18) Hearing 19) Judgment 20) Judgment Execution 21) Judgment Renewal 22) Judgment Set Aside 23) Motion for Summary Judgment
Affidavit
24) Other 25) Payment or Settlement
Stipulation 26) Power of Attorney 27) Post Suit Miscellaneous 28) Pre Conversion Active
Litigation 29) Pre Conversion Judgment
Resolution 30) Proof of Service 31) Property Mortgage 32) Reaffirmation 33) Release of Lien 34) Satisfaction of Judgment 35) SCRA Judgment Affidavit 36) SCRA Release 37) Settlement Letters 38) Settlement Release 39) Stipulations Consent 40) Substitution of Attorney 41) Suit Filed 42) Summons 43) Time Stamped Affidavit 44) Vacated Judgment 45) Validation
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Functionality Service Provider – Agency and Legal
– Issuer and service provider documents maintained together and accessible
– Immediate access by service provider of issuer documents– Agency verification and dispute resolution, case-ready legal files– Upload documents and audio from servicer based upon issuer
criteria– Audit tools to substantiate compliance – Mobility, visibility, and control over bi-directional document flow– Functionality to enhance SCRA compliance
Asset Sales (debt buyers)– Minimum standard documentation available to servicer at time of
sale– Document ordering and delivery subsequent to time of sale– Chain of title tracking
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Technology Solution
2013 Knowledge Symposium November 5-
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Convoke
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Comparison of Information Supply Chains
2013 Knowledge Symposium November 5-
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ConvokeSystems
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