Receivables

Nacha Announces Board Officers and Directors for 2023

Retrieved on: 
Wednesday, February 1, 2023

Nacha today announced the addition of four new and two re-elected members to its Board of Directors.

Key Points: 
  • Nacha today announced the addition of four new and two re-elected members to its Board of Directors.
  • The Nacha Board provides strategic guidance related to the modern ACH Network and the governance of Nacha as an industry association.
  • “I am honored to welcome these distinguished payments leaders to our Board of Directors,” said Jane Larimer, Nacha President and CEO.
  • Nacha Board members that recently began their terms are:
    Jennifer Denoo, President & Chief Executive Officer, Great Basin Federal Credit Union.

Biorn Corporation Observes Interesting Trends for the First Half of 2021

Retrieved on: 
Tuesday, August 3, 2021

MINNEAPOLIS, Aug. 3, 2021 /PRNewswire/ -- Biorn Corporation, a professional, third party debt collection agency, has been observing some interesting trends for the first half of 2021.

Key Points: 
  • MINNEAPOLIS, Aug. 3, 2021 /PRNewswire/ -- Biorn Corporation, a professional, third party debt collection agency, has been observing some interesting trends for the first half of 2021.
  • Debt collection placements assigned to Biorn Corporation by their clients are down 23% when compared to the first six months of 2020.
  • Craig Biorn, President of Biorn Corporation, has 39 years of debt collection experience.
  • While many of these placements are on-going assignments, Biorn Corporation also offers liquidating pools of receivables for credit consultants, banks and bankruptcy trustees.

Facevalue Launches Pan European Online Factoring Solution For SMEs

Retrieved on: 
Monday, August 2, 2021

HILVERSUM, Netherlands, Aug. 2, 2021 /PRNewswire/ --Dutch FinTech Facevalue introduces a unique Accounts Receivable Finance solution for European SMEs that challenges traditional factoring.

Key Points: 
  • HILVERSUM, Netherlands, Aug. 2, 2021 /PRNewswire/ --Dutch FinTech Facevalue introduces a unique Accounts Receivable Finance solution for European SMEs that challenges traditional factoring.
  • Facevalue offers complete flexibility to its clients to determine which receivables they want to sell and charge no fixed fees.
  • Most factoring solutions to SMEs require that the business sell all their outstanding accounts receivables to the Financier for a fixed period, usually two years that includes high fixed costs.
  • Prior to the launch of its SME solution, it has been servicing the corporate mid-market in collaboration with Global Transaction Banks.

KBRA Assigns Preliminary Rating to TVEST 2021A, LLC Note

Retrieved on: 
Tuesday, July 20, 2021

Kroll Bond Rating Agency (KBRA) assigns a preliminary rating to one class of notes from TVEST 2021A, LLC, an asset-backed securities (ABS) transaction collateralized by litigation finance and medical receivables serviced by Experity Ventures LLC (Experity).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns a preliminary rating to one class of notes from TVEST 2021A, LLC, an asset-backed securities (ABS) transaction collateralized by litigation finance and medical receivables serviced by Experity Ventures LLC (Experity).
  • TVEST 2021A represents Experitys second ABS transaction collateralized by litigation finance and medical receivables, following the issuance by TVEST 2020A, LLC in August 2020.
  • The ADPB is the aggregate discounted cash flows of the collections associated with the TVEST 2021A portfolios litigation funding receivables (Litigation Receivables) and medical receivables (Medical Receivables and, collectively, Receivables).
  • The Class A Notes benefit from credit enhancement in the form of overcollateralization, subordination and a cash reserve account.

GemCap Partners with VION Investments in Low- and Middle-Market Commercial Funding

Retrieved on: 
Tuesday, July 20, 2021

SAN ANTONIO, July 20, 2021 /PRNewswire/ -- GemCap is pleased to announce the receipt of investment capital from VION Investments, an Atlanta based provider of funding to companies managing receivable assets.

Key Points: 
  • SAN ANTONIO, July 20, 2021 /PRNewswire/ -- GemCap is pleased to announce the receipt of investment capital from VION Investments, an Atlanta based provider of funding to companies managing receivable assets.
  • David Ellis, Co-President of GemCap said, "This investment by VION provides GemCap with the resources for immediate growth.
  • The markets we serve represent 25% of the U.S. economy, yet receive less than 1% of all commercial finance delivered.
  • VION Investments, headquartered in Atlanta, Georgia, is a specialty finance company focused on receivables purchasing and funding and other innovative financing solutions.

Encore Capital Group to Announce Second Quarter 2021 Financial Results on August 4

Retrieved on: 
Monday, July 19, 2021

SAN DIEGO, July 19, 2021 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (Nasdaq:ECPG), an international specialty finance company, announced today that it will release its financial results for the second quarter 2021 on Wednesday, August 4, 2021, after the market closes.

Key Points: 
  • SAN DIEGO, July 19, 2021 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (Nasdaq:ECPG), an international specialty finance company, announced today that it will release its financial results for the second quarter 2021 on Wednesday, August 4, 2021, after the market closes.
  • Members of the public are invited to access the live webcast via the Internet by logging in on the Investor Relations page of Encore's website at www.encorecapital.com .
  • Encore Capital Group is an international specialty finance company that provides debt recovery solutions and other related services across a broad range of financial assets.
  • Through its subsidiaries around the globe, Encore purchases or services portfolios of receivables from major banks, credit unions and utility providers.

Strategic Resource Alternatives Announces Appointment of Nabil Kabbani as a Board Advisor

Retrieved on: 
Monday, July 19, 2021

LAUREL, N.J., July 19, 2021 /PRNewswire/ --Strategic Resource Alternatives ("SRA"), an industry-leading full-service receivables management and outsourcing firm, is pleased to announce the appointment of Nabil Kabbani as a Board Advisor.

Key Points: 
  • LAUREL, N.J., July 19, 2021 /PRNewswire/ --Strategic Resource Alternatives ("SRA"), an industry-leading full-service receivables management and outsourcing firm, is pleased to announce the appointment of Nabil Kabbani as a Board Advisor.
  • "Having worked with Nabil in the past, I know firsthand that Nabil brings significant value to SRA with a history of executive leadership within the ARM/CRM space along with general business acumen.
  • We are excited to have Nabil on board as a resource to help accelerate the growth and development of the SRA brand," said David White, Chief Executive Officer of SRA.
  • Strategic Resource Alternatives ("SRA") has been providing end-to-end solutions to assist clients in managing their back office and receivable needs since 1971.

Finacity and DZ Bank Facilitate a 3-Year USD $75 Million Receivables Securitization for Audacy, Inc. (NYSE: AUD)

Retrieved on: 
Friday, July 16, 2021

STAMFORD, Conn., July 16, 2021 (GLOBE NEWSWIRE) -- Finacity Corporation (Finacity) and DZ Bank AG Deutsche Zentral-Genossenschaftsbank (DZ BANK) announce that they have successfully launched a trade receivables securitization for Audacy, Inc. (Audacy), a New York Stock Exchange listed company headquartered in Philadelphia, PA.

Key Points: 
  • STAMFORD, Conn., July 16, 2021 (GLOBE NEWSWIRE) -- Finacity Corporation (Finacity) and DZ Bank AG Deutsche Zentral-Genossenschaftsbank (DZ BANK) announce that they have successfully launched a trade receivables securitization for Audacy, Inc. (Audacy), a New York Stock Exchange listed company headquartered in Philadelphia, PA.
  • The 3-year facility is collateralized by Audacys billed and unbilled receivables for radio and podcast advertisements.
  • Finacity specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and program administration.
  • DZ BANK is the second largest bank in Germany and acts as central bank for approximately 800 cooperative banks with over 8,000 branches in Germany.

Strategic Resource Alternatives Announces Hiring of David White as Chief Executive Officer

Retrieved on: 
Monday, June 14, 2021

LAUREL, N.J., June 14, 2021 /PRNewswire/ -- Strategic Resource Alternatives ("SRA"), an industry-leading full-service receivables management and outsourcing firm, is pleased to announce the appointment of David White as Chief Executive Officer.

Key Points: 
  • LAUREL, N.J., June 14, 2021 /PRNewswire/ -- Strategic Resource Alternatives ("SRA"), an industry-leading full-service receivables management and outsourcing firm, is pleased to announce the appointment of David White as Chief Executive Officer.
  • "We are looking forward to beginning this new phase of SRA's evolution under David's leadership," said Dave Aglira, Chief Operations Officer.
  • David is an experienced operations and business development executive with a demonstrated history of success in the financial services, telecommunications, healthcare, and government sectors.
  • Strategic Resource Alternatives ("SRA") has been providing end-to-end solutions to assist clients in managing their back office and receivable needs since 1971.

Synovus Introduces Synovus Accelerate AR, a New Integrated Receivables Suite of Solutions

Retrieved on: 
Tuesday, June 1, 2021

Synovus today introduced Synovus Accelerate AR, an all-new, fully integrated receivables suite enabling organizations to accelerate access to working capital and reduce exceptions with straight-through processing across all payment channels.

Key Points: 
  • Synovus today introduced Synovus Accelerate AR, an all-new, fully integrated receivables suite enabling organizations to accelerate access to working capital and reduce exceptions with straight-through processing across all payment channels.
  • Synovus Accelerate AR is provided with Deluxe, a Trusted Payments and Business Technology company and the industry leader in retail and wholesale lockbox services.
  • Synovus Accelerate AR anticipates the rapidly evolving requirements of organizations to accelerate capture of payments, improve the cash conversion cycle, and make better business decisions.
  • Synovus Accelerate AR includes the following services:
    Synovus Accelerate AR Console, a comprehensive portal that displays all accounts receivable activity and is the primary service module for the Synovus Accelerate AR suite.