Optio effectively manages the collection of education and student loans for academic institutions using its expertise in the financial services industry, state-of-the-art technology and impeccable history of innovative brand protection, data security and compliance.
Acknowledging the special circumstances of those who have fallen behind on the repayment of student loans, Optio addresses each phase of the education and student loan life cycle with the utmost understanding and sensitivity.
The company helps recover outstanding student loan and tuition balances, thus enabling educational institutions to replenish financial assistance programs for the betterment of current and future students. Students and alumni with past-due accounts are contacted using a diplomatic approach that encourages them to repay while remaining engaged with the university and community.
With an underpinning of consumer-centric awareness, Optio offers several options to clients during different phases of the education and student loans recovery cycle: skip tracing, default prevention/aversion, CURE processes, default collection, IVR calling campaigns, rehabilitation and administrative wage garnishment.
Optio Collection Features
- Technology — A leading revenue recovery technology provider platform optimizes business-rule automations by managing how and when to make compliant contact with consumers.
- Security — Payment Card Industry Data Security Standard PCI DSS 3.2, compliance with SOC1 Type II SOC2 Type II, and SOC3, 24-hour CCTV security, strict badge-only access, employee background checks and drug screenings.
- Brand Protection — A consumer-centric approach using consumer surveys increases brand equity and safeguards against negative media coverage.
- Compliance is maintained with ACA Certified Credit and Collection Compliance Officers, ACA certified collectors and a legal team.
- Quality Assurance — A stand-alone QA department monitors calls daily via systematic scoring and grading.
- Certification — SOC1 Type II SOC2 Type II, and SOC3 audited financial reporting and Professional Practices Management System by ACA International (only 1% of US debt collection agencies have earned this distinction).
Benefits of Partnering with Optio
- Increased collection rates while reducing staff time and paperwork
- Specialized experience and accreditation
- Enhanced client-consumer relationships
- Audited financial reporting
- 24/7/365 access to secure account information