Debt Resolve Joins Fair Isaac's ScoreNet(R) Network.Partnership Substantially Reduces Client Set-up Time and Costs for Collection and Recovery WHITE PLAINS, N.Y. -- Debt Resolve, Inc. (AMEX AMEX See: American Stock Exchange : DRV DRV Driver DRV Drive DRV Device Driver (file name extension) DRV Democratic Republic of Vietnam DRV Darunavir (pharmaceutical drug-HIV treatment) DRV Daily Reference Value DRV Deutscher Raiffeisen Verband ), the leading provider of patented online collection technology, announced today that it has entered into a partnership with Fair Isaac Fair Isaac Corporation (NYSE: FIC), founded in 1956 by engineer Bill Fair and mathematician Earl Isaac, provides consulting services and enterprise decision management systems. Corporation and joined Fair Isaac's ScoreNet[R] network. The ScoreNet network is the leading communications platform in the collections and recovery industry. The partnership is very strategic to the collections and recovery markets and will provide Debt Resolve and ScoreNet clients' seamless access to leading collection and recovery products and services. It also enables Debt Resolve to half the time required to integrate ScoreNet clients onto the Debt Resolve platform. Fair Isaac's Debt Manager, RMS (1) (Record Management Services) A file management system used in VAXs. (2) (Root Mean Square) A method used to measure electrical output in volts and watts. 1. RMS - Record Management Services. 2. , and Placements[R]Plus clients, along with all other ScoreNet network partners now have access to Debt Resolve's patented system. The DebtResolve system provides an easy-to-use platform for the online collection of debt, connecting all parties involved in the settlement of debt, including lenders, third party collection agencies and debt buyers. This partnership gives ScoreNet users a further channel to access delinquent and charged-off accounts, and combined with Fair Isaac's analytic models, clients can optimize placement and channel distribution strategies, enabling improved collections at lower costs. Reciprocally, by connecting to the ScoreNet platform, Debt Resolve's clients will have easy access to ScoreNet's array of collection and recovery services. For instance, Debt Resolve clients now have the ability to store, view and forward images of documents through ScoreNet's Document Storage and Presentment service. Additionally, ScoreNet's Event-based Trigger service can be utilized to identify and quickly react to changing account characteristics from a variety of data sources. James D. Burchetta, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Debt Resolve stated: "This partnership is a great advantage for collection and recovery organizations wanting better quality bundled services. In addition, Debt Resolve is excited about the partnership and the opportunity to work with Fair Isaac's long-standing customers. We know that prospective clients will respond eagerly to the news that they can significantly reduce the time needed for implementation, while at the same time reducing their set-up costs. We look forward to working with organizations not currently customers of either company that desire greater efficiencies in their debt collection and recovery processes." Eric Herson, Vice President - ICN ICN International Council of Nurses. Leader of Fair Isaac Corporation said: "This is a great opportunity for both sets of clients to leverage both companies' technologies and services. Having efficient access to this additional channel through their existing network investment will make our clients more effective and efficient in their Collections and Recovery efforts. This partnership will dramatically reduce the current cost to clients of having to negotiate each type of service individually." About Debt Resolve, Inc. Debt Resolve provides lenders, collection agencies, debt buyers and utilities with a patented online bidding system
LLC - Logical Link Control , the company is actively engaged in the purchase and collections of distressed accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying using its own collections solutions. Through its subsidiary, First Performance Corp., the company is actively engaged in operating a collection agency for the benefit of its clients which include banks, finance companies, and purchasers of distressed accounts receivable. The agency also operates as a R&D platform that intends to support the sale and usage of the company's software. The stock of Debt Resolve is traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . Debt Resolve is headquartered in White Plains, New York For other places with the same name, see White Plains (disambiguation). White Plains is a city in south-central Westchester County, New York, about 4 miles (6 km) east of the Hudson River and . www.debtresolve.com. About Fair Isaac Corporation Fair Isaac (NYSE NYSE See: New York Stock Exchange : FIC FIC First International Computer FIC Fogarty International Center (John E. Fogarty International Center for Advanced Study in the Health Sciences; National Institutes of Health) FIC Fellowship for Intentional Community ) makes decisions smarter. The company's solutions and technologies for Enterprise Decision Management give businesses the power to automate more processes, and apply more intelligence to every customer interaction. Through increasing the precision, consistency and agility of their decisions, Fair Isaac clients worldwide increase sales, build customer value, cut fraud losses, manage credit risk, reduce operational costs, meet changing compliance demands and enter new markets more profitably. Founded in 1956, Fair Isaac powers hundreds of billions of decisions per year in financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , insurance, telecommunications, retail, consumer-branded goods, healthcare and the public sector. www.fairisaac.com. About ScoreNet Network ScoreNet network is Fair Isaac's data and service provider platform solution and provides unparalleled access between partners and clients in the consumer credit collections and recovery industries. The network provides the ability to effectively manage and optimize the distribution of information across the transaction life cycle, and applies analytics and decisioning capabilities to make it easier for companies to automate and improve the most challenging decisions. www.scorenet.fairisaac.com. Fair Isaac and ScoreNet are registered trademarks of Fair Isaac Corporation, in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and/or in other countries. Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This news release and other public documents and public statements of representatives of Debt Resolve, Inc. contain forward-looking statements that are subject to risks and uncertainties, including, but not limited to, Debt Resolve's limited operating history, history of significant and continued operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. and substantial accumulated earnings deficit, difficulties with its financial accounting controls, the failure of the market for Debt Resolve's products to continue to develop, the inability to obtain additional capital, the inability to protect Debt Resolve's intellectual property, the loss of any executive officers or key personnel or consultants, competition, changes in the regulatory landscape or the imposition of regulations that affect Debt Resolve's products and other risks detailed from time to time in Debt Resolve's filings with the U.S. Securities and Exchange Commission, including Debt Resolve's recent registration statement on Form SB-2. These risks could cause actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Debt Resolve. Debt Resolve assumes no obligation to update the information contained in this news release. |
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