Equabli becomes an extension of the lender’s business, providing features that bankers need to increase recoveries, decrease operating costs and reduce risks.
Integrated, Pre-Vetted Servicing Network: Pre-vetted collection agencies, collection law firms, bankruptcy services and debt settlement agencies are already integrated into the platform. Banks no longer have to source, onboard and manage multiple work streams for recovery vendors. For banks with existing relationships with servicing partners, Equabli will vet and onboard the preferred servicing partners onto the platform.
Lifecycle Document Management: All documentation, including auto-generated forms for recovery vendors, are stored and organized within the platform, decreasing time spent on non-revenue generating tasks.
Automated Compliance: Equabli provides automated federal, state and local compliance checks on all collection activity, allowing for banks to have more transparency into recovery partners’ activities and reducing the need for outside audits.
Reporting and Business Intelligence: Reporting and BI are driven by a machine learning engine that was trained on proprietary predictive models. The models were created by the Equabli team who have in previous roles generated more than $15B in collections across 100M consumers.