Venture Reduces Collection Calls
Venture Encoding says that its mail tracking service can help mortgage servicers reduce collection calls by up to 12%.
The company said its mail tracking service eliminates the need for some collection calls by electronically monitoring the progress of payments made through the postal system.
Venture then provides lending institutions with daily information detailing which borrowers have already submitted payment. The information can be presented online or in electronic document format and cross-referenced with the collection call list to eliminate calls to those who have mailed payments.
Additional benefits of mail tracking include its use as a means of monitoring lock box performance and as a way to gauge the amount of money that will be collected for the month from payments that have not yet arrived.
Venture Encoding provides a variety of services for the financial services sector, including electronic bill presentment and payment services.
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