Equiant, a Scottsdale, Ariz.-based receivables servicing provider, recently announced record growth in profitability and serviced accounts in 2015. “Over the past few years, Equiant has invested heavily in advanced technology to improve both functionality and security for our clients,” said Peter Moody, vice president of business development. “The industry has seen how Equiant can deliver better control and results at the lowest cost, and we’re getting exactly the response we hoped for: double-digit year-over-year revenue growth in 2015. We’re also forecasting double-digit growth for 2016.”
Among the recently introduced initiatives is Equiant’s Platform as a Service (PaaS) servicing model. Instead of turning accounts over to an outside servicer, clients can now service their own accounts, but they do so using Equiant’s accounts receivables platform, which includes loan servicing, maintenance fee servicing and invoicing, a collections module, document custody, and multi-option reporting tools.
PaaS—a hybrid of the Software as a Service (SaaS) model that’s rapidly taking over the way enterprise computer software is delivered—agreements allow customers to develop, run, and manage software without the complexity of building and maintaining the infrastructure typically associated with developing proprietary software. Using the “cloud,” Equiant’s platform provides the servers, storage methodology and other technology to host developer accounts. In the current era of data security challenges and strict collections law, that’s an important distinction. The cloud-based platform operates under PCI Level 1 certification standards and SSAE 16 compliance requirements and is hosted at the SUPERNAP data center in Las Vegas, one of just five in the world rated as an ultra-secure Tier IV facility. Data stored there is secure from hacking as well as natural disasters, power outages and other possible business interruptions.
Clients that prefer traditional loan servicing agreements (or have lenders that require them) can still rely on Equiant’s industry leading performance for outsourced accounts. Every Equiant client has access to best practices and toolsets that transform the payment-processing function and improve portfolio performance. Equiant’s Business Intelligence Tools (BITs) allow developers to create their own detailed reports with the information they find most valuable. Developers can create custom charts and graphs to reveal both historical and current trend analysis from a high level or to drill down to specific data in an area of interest.
During the upcoming ARDA World 2016 Annual Convention & Expo May 1-5, at The Diplomat Golf Resort & Spa in Hollywood, Fla., the Equiant team will be available to quantify possible cost savings and custom tailor receivables servicing plans. For more information or to set an appointment, call Moody at (480) 636-4888.
Equiant is one of the leading timeshare servicers in the United States with a serviced portfolio that exceeds $1.3 billion and includes more than 125,000 individual consumer loans and 400,000 dues-related accounts. Equiant’s product suite includes receivables and maintenance fee servicing, invoicing and payment processing, point of sale merchant processing, delinquency control, on-site transitional staffing, document custody, trustee services, and analytic reporting.