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QUANTRAX’S ANNOUNCEMENT STUNS THE COLLECTION INDUSTRY

At around 4PM on October 18th, 2017, at its annual user conference in San Antonio, Quantrax Corporation stunned its audience by announcing that it had created the first software robot for the collection industry.

In the next few minutes, after a short video designed to have the impact of a modern Hollywood movie, Quantrax introduced its clients and visitors to Alex, an intelligent, virtual collection agent. A surprised audience watched a live demonstration of a robot that could understand questions in multiple languages, and speak to a consumer in full sentences. With no prior experience with the product, users were then invited to “try” Alex. Whether it was a balance inquiry, naming the creditors owed, asking for bankruptcy information or handling a dispute, the chatbot responded intelligently, asking questions and notating accounts with the skill and knowledge of a mid-level collection agent. Alex’s ability to negotiate a payment, clearly surprised […]

 

WHAT A DIFFERENCE 20 YEARS MAKES, AND IT APPLIES TO COLLECTIONS TOO!

The Wall Street Journal is running a story titled, “Learning to Love Intelligent Machines”. It introduces the story with “Twenty years after famously losing to Deep Blue, chess champion Garry Kasparov says that it’s time to embrace AI and its liberating potential”.

That was over twenty years ago (for those of us who were old enough to have followed the story as it happened). Kasparov resigned the final game against the IBM supercomputer Deep Blue on May 11, 1997 and became the first world champion to be defeated in a classical match by a machine. In the last few years, we have seen more examples of artificial intelligence being applied in ways that make machines smarter, subsequently making us smarter. How can we forget that Expedia has replaced travel agents, IBM’s Watson beat the best human Jeopardy players, and a driverless car made a 9-day trip from San Francisco to […]

 

QUANTRAX PRESENTING AT THE ACA INTERNATIONAL 2017 CONVENTION AND EXPO, WITH CARA ROBINSON

Quantrax is very happy to announce that its CEO Ranjan Dharmaraja will be making a presentation “What if your software could think and make decisions? It CAN!” with Cara Robinson, VP Information Technology and Security, Capital Management Services. This conference is scheduled for July 16-18 in Seattle, WA and this presentation will take place on Monday from 9:15 a.m.-10:15 a.m.

Quantrax has been in the collection technology space for over 25 years. Having pioneered the development of intelligent software, Ranjan acknowledges the industry’s recognition of Quantrax’s unwavering passion and vision, in what is now a challenging and competitive industry. Technology is arguably a great differentiator in today’s space, where security, compliance and results play a key role.

Cara Robinson has been a key part of Capital Management’s growth and success, playing the roles of knowledge engineer, collection expert, and technology enabler. She brings a successful track record of both theory and […]

 

QUANTRAX SELECTED TO PRESENT AT THE ACA INTERNATIONAL 2017 CONVENTION AND EXPO

Quantrax is very happy to announce that its CEO Ranjan Dharmaraja will be speaking on the subject “What if your software could think and make decisions? It CAN!”

This important industry conference is scheduled for July 16-18 in Seattle, WA.
Quantrax Corporation

 
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    IS OUR JOB MORE DIFFICULT BECAUSE THE COLLECTION INDUSTRY CHANGED IN THE LAST 10 YEARS?

IS OUR JOB MORE DIFFICULT BECAUSE THE COLLECTION INDUSTRY CHANGED IN THE LAST 10 YEARS?

No, the industry has not changed but we have failed to adapt to change and modern technology
Have you wondered why there are mergers and acquisitions changes taking place in the collection software space? Is this good for the ARM industry? In the period leading up to 2000, we enjoyed high fees, the introduction and growth of automated systems and easy access to quality employees. 20 years later, we do more work for less money and our technology expenses have increased without giving us better control of our operations. We hear a simple excuse – things are much more complex and challenging than they were 20 years ago.

Is there anything in the world that has not changed in the last 20 years? What about the collection industry? We did a few basic things 20 years ago – we posted accounts, sent letters, made phone calls, entered payments and remitted money […]

 

MEET THE TECHNOLOGY PLATFORM THAT DRIVES QUANTRAX AND ITS MODERN COLLECTION SOFTWARE

While most collection software vendors struggle to keep up with hardware and operating systems changes, RMEx has thrived on a single platform that is arguably the best business computing system in the world. IBM’s investment in the IBM i platform demonstrates its strategic goal of supporting multiple programming models on IBM i, so that users can apply new approaches and integrate them with existing investments.
Simply stated, Quantrax offers the industry the only AI-based (artificial intelligence-based) collection platform. It is tried, tested and proven. Quantrax is now focused on delivering modern computing and technology innovation, as the industry anticipates new regulations and companies search for new ways to improve customer service, meet the expected compliance requirements and increase efficiency and profitability.
Mark Namba, Quantrax’s Director of Business Development / Operations is excited about Quantrax’s market positioning and the future of the collection industry. “The reaction to our Mobile Suite has been […]

 

CFPB PROPOSED RULE-MAKING

Over 100 pages and 2 press releases have given us insight into the CFPB’s much anticipated plans for regulatory changes within the collection industry. While there are several areas that may be impacted, our responsibility is to make sure that our technology will support and quickly address any proposed changes.

One recommendation in particular is clearly within the scope of a technology solution.
Limit excessive or disruptive communications: Collectors would be limited to six communication attempts per week through any point of contact before they have reached the consumer. In addition, if a consumer wants to stop specific ways collectors are contacting them, for example on a particular phone line, while they are at work, or during certain hours, it would be easier for a consumer to do that. The CFPB is also considering proposing a 30-day waiting period after a consumer has passed away during which collectors would be prohibited […]