TransUnion (NYSE:TRU) and Ontario Systems announced a new collaboration to provide collection agencies with TransUnion’s new CreditVision® recovery model. The model will integrate with Ontario Systems’ technology and allow collection agencies and debt buyers to increase recovered dollars by up to 9%.
Previously, Ontario Systems and TransUnion customers used traditional recovery scores and credit reports to prioritize collection amounts. Now, Ontario Systems’ customers can access the CreditVision recovery model, which incorporates historical information on each loan and actual payment amounts. Collection agencies and other accounts receivable managers can use the models to better identify payment patterns and increase their average recovery rate.
The integration builds on a recent TransUnion and Ontario Systems partnership to offer batch solutions through TransUnion’s TLOxp. For the past 20 years, both TransUnion and Ontario Systems customers have benefitted from their technology integrations.
About: Ontario Systems, LLC is a leading provider of accounts receivable and strategic receivables management solutions for the collection and healthcare industries. Offering a full portfolio of software, services and business process expertise, Ontario Systems customers include nine of the 10 largest collection agencies and three of the top six best health systems in the U.S., with 55,000 representatives in more than 500 locations.