Recovery Database Network and Clearplan — two business units of Kar Global — have made enhancements to their respective platforms.
The enhancements include standardized data fields for updates and real-time geostamping for agent updates.
The companies stated that these enhancements will make data entry more efficient for agents and provide clarity to the thousands of daily updates between agents and lenders. Geostamping will add transparency to the process by confirming the location of an agent at the time of their update.
“Keeping up with more than 500,000 text messages sent each day has been nearly impossible for agents and lenders, but having standardized updates enables them to extract more value from field data and operations,” said Justin Zane, president of RDN and Clearplan. “Reporting is significantly enhanced, leading to efficiency, better decision making, and ultimately more profitability for lenders and agents alike.”
Recovery agents will be able to use the new features on both the RDN platform and Clearplan app. Lenders will interact with the enhanced data points on the RDN platform.
Agents using the check-in update field and the new address discount field will now have a drop-down list of standard status updates instead of typing in a free-form text response. This change, the company stated, should save time and result in clear updates.
Geostamping will measure the distance between the agent and the recovery address and automatically mark where the agent is located when the update is entered.