CR Software, the world’s leading collections and recovery software provider and creator of the first open architecture platform today announced the successful implementation of Titanium ORE (Open Receivables Environment) at First Marblehead Corporation, the leading provider of private student loan solutions.
“Marblehead selected Titanium based on a desire to help us achieve our goals of driving industry leading portfolio performance for our clients at a lower cost,” said Michial Thompson, Managing Director, Credit Risk Analytics and Portfolio Management.
Working in tandem with banks and credit unions to design and manage private student loan programs, First Marblehead Corporation recognized the need for an open architecture software platform to help efficiently recover delinquent and defaulted student loans while adapting to emerging business needs by integrating with any file, format, or vendor, achieved through the Titanium platform.
“The ability to easily integrate Titanium into our broader data and reporting infrastructure made the software a great fit for our growing Portfolio Management business,” Thompson said.
The implementation phase of Titanium enabled First Marblehead to drastically reduce the manual collection processes—devising strategies, configuring workflows and jobs, and utilizing the filter functionality within Titanium helped introduce significant automations, conserving time and resources.
“First Marblehead capitalized on the Work Management functionality within Titanium and really streamlined several major processes,” Implementation Project Manager George Veroulis said. “We can’t wait to hear the results.”
Established in 1984, CR Software has more than 28 years’ experience implementing collections recovery and debt management platforms, currently offering Titanium, considered by industry experts the best open architecture platform on the market. Titanium offers credit issuers, government organizations, collection agencies, healthcare groups and retail chains a Commercial off the Shelf (COTS) solution with a configuration, flexibility and security unavailable from any other software provider.