RNN Group Solves the Security Risk Associated With Managing Sensitive Consumer Data Post Charge OffLenders now have control, consistency and visibility when securing consumer personally identifiable information (PII) data while increasing liquidation rates across their portfolio.
VAST® allows RNN Group to provide a comprehensive and consistently monitored waterfall service, enabling debt owners to centrally procure verified assets and accurate data across their national attorney network from a unified, single point of contact. This method safeguards the debt owners’ PII data across a national portfolio as well as eliminates accounts going inactive or dormant. Featuring a simple, single portfolio upload that’s built for speed and simplicity, VAST® takes the guesswork and vetting of new vendors out of the equation. Clients can quickly liquidate in a protected environment based on their security and compliance requirements.
“We developed the VAST® waterfall service to exceed the traditional dormant judgement service alternatives. It can therefore be used as a middle step between originating firms and higher cost dormant judgment providers. This allows us to eliminate increased contingency fees for our clients ranging from 10-25%,” said Donna Weaver, President – RNN Group. “VAST® is also designed to drive significant incremental liquidity across an attorney network because we have incorporated technology that addresses the common challenges associated with delivering millions of dollars in value and reduced compliance risk. That’s critically important to our clients.”
About RNN Group
RNN was founded by former Lexis Nexis and American Express executives to build an alternative solution for post judgment recovery. RNN Group is the leading provider of centralized verified asset procurement and monitoring solutions. By constantly investing in technology, security and experienced teams, we focus on delivering the highest level of efficiencies, sophistication and incremental value to our clients. RNN supports our clients by streamlining processes, reducing internal expenses and delivering overall efficiencies to drive ROI. We also collaborate with credit bureaus and multiple high integrity data sources to deliver more accurate and verified data to drive financial goals. RNN also invests heavily in R&D for developing new verified assets and verification products for the lending life cycle.