What is VendorConnect?
VendorConnect is an online compliance management software tool that provides immediate access to compliant agents that are fully vetted and available to work for creditors and national forwarders. VendorConnect is designed to provide full transparency of the third-party vendor and includes client propriety documents, insurance ACORDs, licenses, background checks, onsite inspections, and CARS certification. With VendorConnect, a client can be sure that the third-party vendors they use to handle sensitive borrower data are 100% compliant to their unique standards.
VendorConnect is embedded in the RecoveryConnect assignment management platform and enables lenders to manage systemic compliance for third-party and fourth-party vendors and where our partner, RISC, will continue to provide compliance monitoring.
RISC’s compliance service offerings include:
- Vendor Vetting: insurance, licenses, policy and procedure documents, OFAC and more
- Background checks
- Onsite inspection of the storage and office locations
- RISC’s CARS Education
MBSi, the leading SaaS provider of repossession assignment software, and RISC, the leading third-party compliance management company for the auto finance industry together create a powerhouse combination. Uniting MBSi’s software and RISC’s compliance servicing creates the most comprehensive solution for recovery agencies, national forwarders, and auto finance lenders. With RecoveryConnect and VendorConnect, companies can not only manage their assignment portfolio but also maintain compliance-related documentation and certifications while managing and safeguarding their businesses.
Lenders, Lienholders & Forwarders
Verify, monitor and securely store important business documents and policies for all your asset recovery vendors. Document access and 24/7 compliance monitoring by RISC is available with VendorConnect.
Vendor Onsite Inspections
Through our partnership with RISC, we have the most comprehensive list of recovery lot inspections nationwide with immediate access to more than 3,000 inspected lots.
Mitigate third-party vendor risk by verifying regulatory compliance training. The CARS program is the industry standard training program that covers all state and federal laws that impact the self-help repossession process.
RISC Pro is the leading industry membership that provides recovery agencies with the ability to elevate their compliance status, connect with clients, access discounted education, and more.
Your complete company profile will be showcased to lenders and forwarders looking for agents in your area
Unlimited access to RISC’s national certification programs for one low subscription “pay-per-employee, per-month”
Feature a certification document stating a vendor onsite inspection(s) was completed by a RISC approved inspector for one or more lots or office locations within the past 12 months.
Use the leading platform that more than 40 national creditors and forwarders use for vendor vetting and vendor onsite inspections