Convoke, a leader in SaaS solutions for the debt collection market, today announced the most recent software update to its debt collections compliance and management hub. Each year, Convoke develops and releases several updates to its platform to support its clients’ evolving needs. This release includes updates which support state-specific regulatory compliance requirements, along with other enhancements to features and functionality which help Convoke’s customers to optimize recoveries while realizing material cost savings.
State Compliance Document Support
In today’s dynamic regulatory environment, certain states have enacted their own consumer protection laws and regulations to augment the current federal requirements. These new laws include, among other provisions, state-specific document delivery requirements to consumers by credit issuers. Convoke’s latest release includes numerous changes to meet this and other critical compliance needs stemming from expanding state requirements.
“As a result of recent changes at the federal level, we’ve seen states begin to assert themselves in order to promote their views on fair consumer treatment. Convoke is proud to be able to meet our customers’ need to comply with new state regulations as they are enacted,” said David Pauken, CEO at Convoke.
New document support includes the addition of the Right to Cure Notice media type. Multiple states now require that credit issuers provide this document to the consumer. Convoke also supports state-specific sales affidavit requirements which are used by credit issuers in the recovery process.
Convoke is a leader in SaaS solutions for the debt collection market. It enables credit issuers to comply with regulatory and internal requirements and manage and monitor debt collection activities for all third-parties, while maximizing recoveries and realizing material cost savings. Convoke’s online platform is a central, validated and persistent hub that records, organizes and stores information and activities, facilitates, tracks and automates interaction with third parties, and provides powerful auditing, management and reporting tools. Convoke is headquartered in Arlington, VA. For more information on Convoke, please visit www.convokesystems.com.
Jay Sloan, 877-887-7922