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Ask the Experts: How XpressCollect is Revolutionizing Collections

Posted by Chris Carlson | Thu, Apr 25,2019 @ 10:09 AM

Collections will never be the same. 

XpressCollect, the latest addition to MeridianLink’s market-leading suite of products, has quickly been recognized as one of the most powerful and innovative collections tools. With its robust and intuitive platform, XpressCollect maximizes efficiency and minimizes costs. The web-based platform provides unmatched benefits that start with a sleek user interface that delivers the ultimate user experience. XpressCollect not only replaces tedious workflows of the past with increased automation, sophisticated analytics and easy-to-use functionality, it also evolves with your financial institution’s operations and goals.

As you may know, we hosted an introductory webinar yesterday to provide more information about XpressCollect and its benefits. In case you missed it, you can request the recording link below.

Here’s some of the Q&A following the presentation and demo to give you some more insight on how XpressCollect works:

 

Q: How long does deployment XpressCollect typically take if we already have LoansPQ/XpressAccounts integrated to our core system?

A: Deployment takes approximately 12 weeks from start to finish. MeridianLink assigns a software deployment coordinator to take you through deployment until the go-live date. Clients will have access to a testing site until everything goes live in the production site.

Q: Are we able to create custom screens and custom fields?

A: XpressCollect does not have custom screens. However, all screens and tabs are able to be hidden or from users based on permissions and roles. XpressCollect has over 35 configurable fields ranging from account types and customer/member types to payment types and fees. Within every configurable category, an administrator can enter an unlimited number of entries

Q: Which integrations does MeridianLink currently support for XpressCollect and which ones is it working towards?

A: We began with vendors that our early adoption partners utilized. We are now beginning our efforts to continue integrations with several vendors within the collection industry. Today, we support integrations to Allied Solutions CenterPoint, SWBC ECM Payment Solutions, CBC Innovis, Experian Collection Advantage, Recovery Database Network (RDN), Navient, CU Revest, Billing Tree, DocuSign, eSign, KBB, NADA, and Black Book. Several vendors are currently being integrated or are in the queue to be integrated. We will disclose those new integrations when they are ready.

Q: What are XpressCollect’s document capabilities?

A: There are two primary documents in XpressCollect, namely batch documents as well as on-demand letters and related documents. With batch documents, you can run, schedule, or automate large batches of letters with triggers and conditions. The second for letters and related documents is within a case under the documents tab. Users may create a document from the list of uploaded and programmed documents. Then they can choose to print and archive or sign the document using e-signature. A user can also upload any document from a PC.

Q: What functions work with MeridianLink products?

A: As we stated demonstrated during the webinar, XpressCollect is revolutionizing collections through industry-leading functionality. XpressCollect provides a sleek user interface for viewing application history, submitting a workout loan through our LoansPQ loan origination system to qualify the customer/member. It also displays all vehicle value links currently stored in the LoansPQ and allows users to order or view a credit report.

Now’s the time to learn more about how XpresCollect can streamline and transform any financial institution’s collections operations. As we mentioned earlier, yesterday’s webinar is a great place to start. So please click the button below to request a link to the recording.

Request Our Webinar Recording

Want to check out our product overview for XpressCollect? Click here to download it.

Topics: Best Practices, loan origination system, Deposit account opening, ask the experts, collections

Written by Chris Carlson