Technology is transforming the recovery industry in all aspects. Meeting the stricter 3rd and 4th party vendor management oversight expectations is more challenging than ever – especially while trying to achieve higher recovery rates and reducing losses. Part 1 of this session will focus on how lenders, whether they use the direct model or national model, can successfully gain control and visibility of all the providers in their network at all levels, while standardizing the vetting, due diligence, complaint management, and scorecarding of those vendors. Part 2 discusses how today’s cutting-edge technology and the 4 ACES [Automation, Connectivity, Electrification and Sharing] will transform the recovery industry in all ways.
Takeaways:- Ensuring 3rd and 4th party vendor transparency while maximizing loss recovery
- Standardizing the vetting, due diligence, complaint management and scorecarding of vendors
- Meet demanding regulatory requirements for 3rd and 4th party vendors in loss recovery
- How AI and the 4 ACES [Autonomous, Connectivity, Electrification, and Sharing] are transforming the recovery industry
