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Akcelerant And GRANT & WEBER Deploy Outsourcing Solution At Northwest Federal Credit Union
Northwest Federal Credit Union implements Akcelerant Framework’s new collection connector to GRANT & WEBER’s charge off outsourcing service
MALVERN, PENNSYLVANIA (April 04, 2013) – Akcelerant, a leading provider of software and services to the financial industry, and GRANT & WEBER, an account servicing and receivables management organization specializing in both pre and post charge off collection services for financial institutions, have designed a connector allowing users of the Akcelerant Framework’s collection solution to outsource their pre-charge off and charge off accounts with great ease and transparency. Northwest Federal Credit Union is the first financial institution to utilize the GRANT & WEBER connector to send charge off accounts for recovery.
“The GRANT & WEBER connector eliminates the need for timely preparation and exporting of accounts manually. It’s safe, keeps the inventory reconciled with simple queue criteria, and allows for full transparency that should be expected with today’s technology,” commented Trevor Simms, chief business development officer for GRANT & WEBER, Inc. “The future of outsourcing delinquent accounts is now available.”
Northwest, a Virginia-based financial institution with $2.1 billion in assets and over 102,000 members, has been a Framework customer since early 2008. In need of a collection agency to handle their significant charge off portfolio, Northwest utilized several different collection agencies. None of the agencies offered daily visibility into the status of the delinquent accounts after outsourcing. GRANT & WEBER’s connector for recovery outsourcing was the perfect solution to Northwest’s problem, offering seamless integration to the Framework with daily updates to the account status and notes flowing automatically into Northwest’s Framework.
“This partnership has allowed our executives and collection team the ability to run a variety of reports and views based solely on the charge off accounts that GRANT & WEBER has worked and sent back through the Framework, providing us full visibility to all of our accounts,” states Phil Frye, technical specialist collections at Northwest. “I highly encourage any financial institution experiencing an excess of delinquent accounts that would benefit from support with their collections to use the GRANT & WEBER connector.”
As an added benefit, users of the GRANT & WEBER connector gain visibility into legal activity occurring on charge off accounts. Notes made by attorneys partnered with GRANT & WEBER, such as Bradley Pizer of the law firm of Pizer & Associates, P.C. in California, are easily passed to the Framework through the connector.
Eric Snyder, executive vice president of Business Development at Akcelerant adds, “The Framework’s unique ability to integrate industry-leading service providers continues to be a hallmark of Akcelerant’s value proposition. This strategy enables customers like Northwest Federal Credit Union to create an optimal work environment by outsourcing delinquent accounts to GRANT & WEBER. As always, we look to our customers’ satisfaction to help drive our business partnerships; we recognize GRANT & WEBER as a specialist, and the GRANT & WEBER connector is a valued addition to the Framework.”
About Akcelerant Software LLC
Akcelerant, located in Malvern, Pennsylvania, is a leading provider of software and services to the financial industry through multiple product lines and relationships with best-of-breed service providers. Today, more than 500 financial institutions in North America are using Akcelerant technology. For more information about Akcelerant, visit www.akcelerant.com.
About GRANT & WEBER, Inc.
GRANT & WEBER is a nationwide financial solutions & receivables management organization, incorporated in California, Washington, Nevada, Texas and Arizona. We have offices nationwide to proudly serve our clients in the credit union industry, among others like healthcare, insurance and commercial. Founded in 1977, GRANT & WEBER has 35 years of experience and has established a reputation as a leader in our service offerings. GRANT & WEBER has built its reputation on integrity, customer service and our ability to provide turnkey business solutions with a focus on member services, customer care, in-house training and effective recovery as the hallmarks for daily operations.