Solutions > Transfer Agent & Right Party Verification

Right Party Verification" (RPV) is a crucial step in the collections process where the collector confirms they are speaking with the correct person who owes the debt. It involves verifying the identity and contact information of the debtor to ensure that communications and actions are directed towards the appropriate individual.

 

This verification helps prevent mistaken identity issues and ensures compliance with regulations governing debt collection practices. While the process is absolutely necessary, it is time consuming adding cost, effort and handle time to human agents on the phone.

 

Our Transfer Agent excels in efficiently processing a high volume of Right Party Verifications (RPVs). Recent data analysis comparing the performance of our Transfer Agent to offshore contacts for one of our major clients illustrates remarkable efficiency gains. Specifically, our Transfer Agent achieved three times the RPVs while only dialing 20% of the volume handled by the offshore team. This translates to an outstanding efficiency rate of 15 RPVs per dial for our AI agents compared to just 1.5 RPVs per dial for the offshore team.

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The way the Transfer Agent works is relatively simple, it dials provided lists and checks for right party verification of the person on the phone then warmly transfers the call to a live collection agent after providing them information about the call. The system is so efficient our clients call it a "dialer on steroids"!

 

Our Transfer Agent is deigned by Umbrella's AI and it is continuously updated by Umbrella's AI but it is not powered by AI to ensure speed and affordability.