Intellaegis, dba “masterQueue”, a leader in debt collections software, was selected to present at FinovateFall in New York City September 23-25th, 2019.
“masterQueue launched as an Artificial Intelligence based Debt Collection software at FinovateSpring in 2011, well before A.I. became a well-known strategy in FinTech. We’re excited to see the Compliance and Data Privacy solutions they’re launching at FinovateFall,” said Greg Palmer, VP FinTech strategy at Finovate.
masterQueue has become the dominant FinTech solution where Debt Collection process management change using FinTech has been identified by innovative Financial Institutions in Auto Finance, Credit Card and other verticals as a solution to improve on older, manual, legacy Debt Collection processes that need a makeover.
masterQueue was created to automate the skip tracing process by automatically gathering consumer data to streamline the method of finding customers that financial institutions have lost touch with. masterQueue’s CEO and Founder John Lewis was a former Skip Tracing lead trainer at Chrysler Financial, and in 1988, John and his wife/business partner Perla built the first skip tracing company and masterQueue is their 9th start up within the auto finance vertical.
“In prior years, we helped build niche industries around the Skip Tracing and Repossession processes. This changed how lenders managed this part of their portfolios. While those companies we built became pioneers of billion dollar niche industries in auto finance, what masterQueue, and eventually what all debt collection platforms will do in regard to data, efficiency and compliance, I believe, will completely transform the entire Debt Collection industry. It will shift from an old school, labor intensive, manual process driven business model to an efficient, well-oiled machine that embraces and utilizes all the great parts of FinTech,” Lewis said.
In addition to efficiency gains, the reason masterQueue is presenting again at Finovate has more to do with the new Data Privacy laws like CCPA, and with the CFPB and different States constantly updating the regulatory rules around Debt Collection.
“Our clients face complex challenges in finding and contacting customers in a compliant manner. We’re in an environment where the rules are constantly changing and new Data Privacy laws require FI’s and their vendors to track and secure every piece of data on every person whose data they come into touch with. That’s not easy without a solid FinTech platform built around a comprehensive data mapping and data hygiene plan,” commented Lance Suder, masterQueue’s Director of Operations.
With this dynamic in play, one of their long-time clients approached masterQueue to collaborate and build a solution to address these regulatory challenges to help them pro-actively stay ahead of the curve in protecting their customers data and privacy.
“No lender cares more about their customers, and they set the bar on how Financial Institutions should treat consumers. It was no surprise when they came to us to build a feature in masterQueue to protect and respect their customers data. We’re excited that’s been nominated for a collaboration award at FinovateFall,” Lewis said.
This project, and all of the masterQueue compliance and efficiency features will be showcased at FinovateFall, and at the Auto Intel Summit (AIS) July 23-25th in Raleigh, NC.
At AIS, Lewis will be speaking on a Data Privacy panel that will be moderated by Rod Arends, VP of Loan Servicing at Southeast Toyota Financial. He’ll be joined by Mary Ross, co-author of the California Consumer Privacy Act; David Lincicum, General Atty at the Federal Trade Commission, and Becky Kuehn, Partner, & Chair of the Credit, Reporting, Privacy and Data Security Practice Group at Hudson Cook, LLP.
The following day, Lewis, Ross and Kuehn will be joined in a data privacy workshop by Jessie Herdrich, VP of Compliance and Operations at PAR North America, a long time masterQueue customer and an innovator in third party vendor servicing. A masterQueue user conference, also moderated by Rod Arends, will then be held from 11AM to 1PM on 7/25 to close out AIS.
UBS Managing Director Choo Oi Yee To Join iSTOX As Chief Commercial Officer (CCO)
iSTOX, the first regulated platform in any major global financial center to offer end-to-end issuance, custody, and trading of digitized securities, is pleased to announce the appointment of Choo Oi Yee as its first Chief Commercial Officer (CCO).
Choo has over 20 years of experience in the investment and banking industry, most recently as Managing Director and Head of Singapore Corporate Client Solutions for UBS, where she was responsible for UBS Singapore’s investment banking business. In her new role at iSTOX, Choo will be a key member of iSTOX’s management team responsible for driving the company’s overall business growth by building its network of investors and issuers. She will join the iSTOX team in January of 2020.
“I see some truly fundamental changes on the horizon for capital markets and I believe that Singapore — and the iSTOX team — are uniquely well positioned to take advantage of them,” she said. “I’m very excited to be joining the team and look forward to helping iSTOX grow into the platform of choice for 21st century issuance and investment.”
Choo’s appointment comes at a strategically important period for the company; iSTOX has initiated plans to grow its base of issuers and investors as it works towards graduation from MAS’s Fintech Regulatory Sandbox in early 2020.
“It was clear to us that we needed someone with Oi Yee’s stature, reputation, and experience for our CCO role. Among other requirements, we needed someone with deep securities, issuance, and trading experience at a very senior level; someone with outstanding relationships with major institutional investors, business leaders, family offices, and others; and, most importantly, someone with a deep and instinctual understanding of the challenges and opportunities facing issuers and investors,” said Danny Toe, Founder and Chief Executive Officer of ICHX.
“We are pleased to welcome Oi Yee to the team as we open up applications for iSTOX investor accounts and plan an exciting issuer pipeline ahead of our projected sandbox graduation early next year,” said Darius Liu, Co-Founder and Chief Strategy Officer of iSTOX.
Euromoney TRADEDATA Partners With UK FinTech ipushpull to Create On-demand ‘Data-as-a-service’
Euromoney TRADEDATA is pleased to announce a strategic partnership with ipushpull, a powerful data sharing and workflow platform.
Euromoney TRADEDATA recognises that the on-demand model is the future of data consumption, particularly within community chat and messaging networks, as part of a suite of delivery systems required to service all parts of the market that need futures and options reference data.
Through a single connection to ipushpull, Euromoney TRADEDATA can distribute data into a variety of applications including Symphony, the secure collaboration platform, with nearly half a million connected financial market users. The ipushpull platform provides Euromoney TRADEDATA with new distribution channels for secure, audited, access-controlled data delivery.
Mark Woolfenden, Managing Director of Euromoney TRADEDATA, comments:
“This is a very important integration for Euromoney TRADEDATA, as we begin to experiment with embedded, on-demand workflow functionality and delivery systems for our reference data. We recognise ipushpull as a leading exponent in data sharing workflow technology and we expect further benefits from their connections to other community messaging solutions. Also, as part of the offering, we can now offer a functionally rich Excel plugin for desktop users to access our reference data, which integrates seamlessly within users’ existing workflows. In addition, we look forward to working with ipushpull to develop a clutch of bots, to further enhance our customers’ experience in using our data services.”
Matthew Cheung, CEO of ipushpull, comments:
“We’re excited to offer Euromoney TRADEDATA new avenues to deliver and monetise their data to a variety of desktop and cloud services. We see this innovative approach as the first step towards an on-demand ‘Netflix’-style distribution model for data producers and consumers.”
SOURCE Euromoney TRADEDATA; ipushpull
360 Finance’s LendingAdda Launches Diwali Offers
LendingAdda consumer lending marketplace owned by parent company 360 Finance (NASDAQ: QFIN) announces Diwali offer for credit card holders. On 6th October, SBI announced a bumper Diwali offer for its credit card holder; on 10th October, the State Bank of India approved a ten percent discount for its credit card users; on 14th October, LendingAdda launched the credit card function, and AMEX, SBI, Citi banks’ cards are included.
Due to India’s inefficient banking system, most people do not have a credit history, which leads to lower utilization of credit cards and limited accessible for many.
In this condition, fintech companies empower people’s lives compared with banks. LendingAdda, a digital finance platform, has integrated more diversified financial services. Its innovative data-driven and behavioral risk management models can help overcome barriers that arise from a lack of widespread and robust credit scoring.
Prantik Ray, professor of finance at XLRI-Xavier School of Management at the University of Minnesota, has stated that digital finance can be instrumental in providing credit ratings and potentially be leveraged in other areas. In essence, online finance can help create more possibilities in people’s lives.
LendingAdda evaluates a user’s credit based on big data and selects the most suitable loan and credit card product offers for consumers using intelligent matching. So far, it has offered lending services to more than 4 million Indians, and the number of borrowers is multiplying.
Most importantly, LendingAdda’s products cover almost every part of a user’s daily life: microfinance, credit cards, commercial loans, mortgages, auto loans, medical loans, education loans, etc., and its interest rate is usually lower than banks.
Additionally, LendingAdda has a higher credit line (up to 10 lakhs), which can almost always meet the borrowing needs of consumers, and the money arrival rate is less than 5 minutes, which was much faster than the bank.
With the help of LendingAdda, Moham finally got his wish of buying an iPhone for his girlfriend, which he thinks will help him bring greater happiness to his life.
How does LendingAaad help people accomplish their dreams?
Compared with many other enterprises, LendingAdda has world-class technology that enables it to offer a highly secure lending process with tailored products and services that help serve the daily lives of its users.
SOURCE 360 Finance, Inc.
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