Debt Buyer Uses Provana’s Compliance Solution To Manage E-OSCAR DisputesBusiness Intelligence

Faster Legal Claims Process Drives More Revenue

Overview

A large debt buyer and portfolio manager in the credit and collections space has a long-standing relationship with Provana, mainly focused on compliance. More recently, the debt buyer invested in Provana’s IPACS e-OSCAR dispute management solution, along with Media Cabinet to manage account-related documents. The firm also uses IPERFORM ANALYTICS products for business intelligence.

“I’ve been blown away with how great the Provana team has been. The system is highly customizable and fits our needs well,” said the debt buyer’s CIO. “It’s good to work with a partner that is well-informed of both FDCPA and FCRA regulations.”

Challenge

Until recently, the firm did not handle debt that required credit reporting. Because credit reporting naturally leads to e-OSCAR disputes, they had to invest in a solution to manage this new workflow. In the past, with similar workloads, management had to deploy up to three FTEs to manage e-OSCAR dispute process. Consumers can and often do use multiple channels to dispute credit reports, and this happens across the collection network, which is difficult to manage. Additionally, it has been very difficult to find any qualified candidates with e-OSCAR experience.

Solution

The firm put in Provana’s IPACS e-OSCAR dispute management solution. This is fully automated to the client, though Provana ensures all disputes reviewed from the operations team that supports the solution. All exceptions are provided to the client daily through an automated client portal. The e-OSCAR module of IPACS has the following benefits:

  • It is compliant with the Metro-2 coding format for e-OSCAR
  • It allows coding disputes differently across the firm’s servicers 
  • Every dispute gets a human touch in the process 
  • It is easily integrated into Provana’s compliance management and analytics solutions

Results

Working with Provana, the debt buyer was able to effortlessly integrate and industrialize the e-OSCAR dispute process in order to:

  • Prevent the internal effort of approximately three FTEs to manage disputes
  • Link e-OSCAR dispute data into overall business analytics and vice versa
  • Omit the management effort of hiring scare personnel with minimal e-OSCAR experience

3 FTEs

Able to pivot to other revenue-generating activities

100%

Integration between e-OSCAR dispute data and business analytics

Why Provana? Clean user interface. Targeted insights. Easy to Operationalize.

Chris Schumacher
Chris Schumacher
President & CEO, Optio Solutions