Epiq Bankruptcy Reduces Manual Effort for National Loan Servicer
- Financial Services
A national loan servicer approached Epiq Bankruptcy with a request to help reduce their reliance on the manual lookup and updating of Trustee payment allocations.
Vertical: Loan Servicers and Subservicers
Stakeholder: Finance and Credit Issuers; Cash and Payment Management
Solution: Trustee Payment Matching, Docket, Claims and Disposition Monitoring
Risk Area: Customer Receivables; Secured Lending; Unsecured Lending
Customer utilized AACER's Cashiering to automatically match Trustee payment vouchers from National Data Center (NDC) to cases in the AACER platform and access bankruptcy payment information. For customers already using AACER Docket Monitoring, AACER "flips the switch" in the platform enabling instant payment visibility.
By dynamically matching payments in a single location in the AACER platform, the customer saved hundreds of man-hours monthly and lowered their risk of missed payments allocations.
AACER displays both the aggregated Trustee vouchers and payment details in a single view.
Servicer can then quickly and accurately apply payments to correct loans.