RECOVERY MANAGEMENT SOLUTIONS
PDCflow PAYMENT HUB
Improved Payment Compliance Workflow & Automation of Payments
Case Study Overview
Recovery Management Solutions, LLC (RMS) opened their doors in April 2015 as a two person operation. The company has grown to a team of 25 collectors.
Recovery Management Solutions was looking for a solution that would assist with:
1. Payment Compliance Workflow – Written authorization is a requirement of Regulation E for recurring payments. Traditionally, this is done with a paper document via the mail.2. Payment Automation of Recurring Schedules – Wanted a solution where they could quickly and easily set up the schedule and send and receive the written authorization for fast payment acceptance.
PDCflow PAYMENT HUB BENEFITS
Implementation of the PDCflow Payment Hub allows:
Integration of eSignature with Payments – a collector can send a request for a signature on a payment schedule while on the phone with the consumer. The tool provides a legal wet signature and a documented audit trail.
Efficient Payment Compliance Workflow – Collectors can send a request for an initial payment along with the recurring schedule consent form all in one workflow through the Payment Hub’s integrated tools.
Easy Consumer Experience – Initial payment requests can be prefilled based on information provided while on the phone with the consumer. Consumers can simply click accept and submit while on their cell phone or any internet connected device.
Recovery Management Solutions LLC has experienced:
1. Faster Payment Collection
2. Greater Convenience for Consumers and Collectors
3. Built-In Regulation E Compliance