9
business development. “It’s a complete
accounts-receivable system that includes
loan servicing, maintenance-fee servicing and
invoicing, a collections module, document
custody, and multi-option reporting tools.”
PaaS agreements allow customers to
develop, run, and manage software without
the complexity of building and maintaining
the infrastructure typically associated with
developing proprietary software. Through
cloud technology, Equiant’s platform pro-
vides the servers, storage methodology, and
other services to host developer accounts. In the current age of data
insecurity and strict collections law, that’s an important distinction.
Ultra-Security
“The Web platform is very secure and operates under PCI Level 1 cer-
tification standards and SSAE 16 compliance requirements,” Moody
says. “In addition, the platform provides best practices and tool sets
to transform the payment processing function and improve portfolio
performance.”
Equiant’s cloud-based platform is hosted at the ultra-secure
SUPERNAP data center in Las Vegas, one of just five in the world
rated as Tier IV. “It’s critically important to know that your data is both
safe and secure,” Moody says. “This includes being safe from hacking
as well as secure in the case of natural disasters, power outages, and
other possible business interruptions.”
Traditionally, vacation ownership companies have had to choose
between hiring a third-party organization that specializes in profes-
sional loan servicing or developing their own technology and systems.
Gennuso appreciates the hybrid approach offered by Equiant. “It
didn’t make sense for us to recreate what Equiant had already built,”
he says. “It was simple to train our staff to use the platform, and now
we have all the tools we could ask for.”
Customized Reports
The platform includes Equiant’s Business Intelligence Tools (BITs),
which allow developers to create their own detailed reports with the
information they find most valuable. “You’re able to download the data
and slice and dice it the way you want to,” Gennuso says. “We create
custom charts and graphs to discover trends.”
If accounts do become delinquent, Gennuso turns to a service
offered through Interval International’s Affiliate Advantages, Meridian
Financial Services, to provide collection services. “The way both com-
panies work together makes it easy for developers,” he says.
For clients who adopt the “DIY” approach, cost savings are part of
the appeal. “The pricing model is volume-based, so smaller develop-
ers don’t have big up-front fees and larger developers save on a per-
account basis,” Moody explains.
Equiant continues to provide traditional loan servicing to clients
who prefer that approach or have lenders that require it. “We’ll lever-
age our expertise to help clients design their most desired and prof-
itable business option,” Moody says.
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