FORT WORTH, Texas – Digital Recognition Network (DRN) and Shaw Systems Associates announced on Monday that Shaw will be embedding DRN’s location data and scoring analytics into its collections software platform.
Officials highlighted DRN’s data and analytics will allow Shaw to address collections issues earlier in the workflow and improve collections outcomes.
“By embedding DRN’s data and scoring into our platform, we are continuing our commitment to serve lenders and provide the most advanced collections capabilities,” said Stephen Brannon, director of business development at Shaw.
“We can begin to address the collections issue at day one past due by scoring and determining the best location for making contact,” Brannon continued. “This agreement furthers our commitment to providing the most comprehensive and compliant collections solutions in the market.”
DRN’s location data is comprised of vehicle location data that is gathered throughout the U.S. The information is plugged into scoring solutions that can determine whether a given address is likely a “good” or a “bad” address for contact.
In the collections business, DRN chief executive officer Chris Metaxas emphasized that knowing the correct address for making contact increases positive outcomes for finance companies.
By scoring throughout the collections process, Metaxas pointed out that Shaw’s clients can address collections issues earlier in the collections lifecycle and work earlier to prevent defaults and accelerate repossession.
“We are excited to partner with Shaw on this embedded solution,” Metaxas said. “Through this integration, Shaw is making DRN’s unique data and cutting edge analytics available immediately to their over 300 clients.
We have seen our location data and scoring solutions literally transform the collections process for our customers,” he went on to say.
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