How Skiptracers Can Help Solve a Key Challenge in the COVID-19 Crisis

If auto manufacturers can make ventilators, and whiskey distilleries churn out hand sanitizer, then why can’t skiptracers be deployed to help put the “trace” in “contact tracing”?

“There’s an entire industry of seasoned skiptracing investigators that are out of work while debt collection is on hold,” President and CEO of masterQueue John Lewis wrote recently on his company’s LinkedIn page. Introducing his firm as a skiptracing platform used for contact tracing in debt collection, Lewis explained that when it comes to the “trace” component of the “test and trace” strategy to combat the spread of the coronavirus, masterQueue is your huckleberry.

“Many states are advertising the hiring of thousands of people to do the work these people are trained to do, and it should be done in a secure platform that’s turnkey and already built as this needs to happen now,” Lewis wrote, “with workflow automation, integrated click-to-dial recording with QA, regulatory compliance rule tracking and data privacy pieces built-in.”

“If you are a state that is interested in leveraging the experience of people who do this for a living,” he concluded, “let’s talk.”

Photo by Skitterphoto from Pexels

Skiptracing is the art – and science – of finding an individual who is trying to avoid being found. The phrase itself refers to the slang term for fleeing a given area without leaving a trace: “to skip town.” Those who employ the services of professional skip tracers range from debt collectors and bail bonds agents to lawyers, journalists, and even members of law enforcement.

As you might guess, skiptracing involves accumulating, managing, and analyzing what can become massive volumes of information. Much of this data comes from incomplete or untraditional sources. But all of it needs to be verified, reviewed, and synthesized in order for skip tracers to gain actionable insights on their subjects.

masterQueue is a web-based solution that automates the skiptracing and collections process. The platform enables users to gather and organize publicly-available customer data, and integrate relevant state, Federal, and data privacy rules in order to remain compliant. Finally, masterQueue tracks loan portfolio, customer, account, employee, third-party vendor, and data provider metrics to provide robust reporting and audit functionality.

masterQueue’s John Lewis demonstrating the company’s platform at FinovateFall 2019.

“If there are three things you remember from what I talk with you today about, it’s three words: gather, organize, and track,” masterQueue’s Lewis told Finovate audiences in New York last fall. “Think about it in terms of data. We launched out masterQueue platform at Finovate in the spring of 2011 to be able to help debt collection (companies) find anyone they needed to find and in order to do that you need to gather, organize, and track data.”

Traditional methods in the debt collections business are especially problematic not only because of the large volumes of data to be collected, but also because of new data privacy laws that mandate how data must be handled. This has been overlooked in some of the media discussions over contact tracing in the context of COVID-19. But for masterQueue, these concerns are central – and on-going. At FinovateFall Lewis explained how, years ago, one efficient strategy of information collection – leveraging road cameras to identify the missing vehicle of a delinquent borrower instead of engaging in an outdated, time-consuming plow through paper records – was undermined by the arrival of new regulations from the Consumer Financial Protection Bureau. He highlighted the importance of innovation in the regtech space in the face of the latest shift in the regulatory sands – the California Consumer Privacy Act – and reminded attendees of the cost of getting it wrong.

“From $22 million against Google to $5 billion against Facebook tells you the stakes involved in data privacy,” Lewis noted, comparing the penalty assessed against Google by the FTC in 2012 with the fines levied against Facebook by the E.U. just six years later.

In recent years, masterQueue has scored seed funding after being self-funded by its founders and a pair of strategic Angel investors for the first years of its existence. The amount of the investment was not disclosed, but the capital did enable the company to add to both its workforce and to its top line. “This (funding) allows us to double staff and increase our year over year Q1 revenue from 2018 to 2019 by eight percent,” masterQueue co-founder and CFO Perla Lewis said.

In addition to working with some of the largest financial institutions in the U.S., the company recently has forged strategic partnerships with firms like PassTime a leading GPS solution provider, and expanded its relationship with PAR North America, a business division of KAR Auction Services. Founded in 2011, masterQueue is headquartered in El Dorado Hills, California.

Finovate Alumni News

On Finovate.com

  • ID R&D’s Voice Biometric Solution Satisfies Need for Speed, Omni-Channel Reach.
  • Finovate Global: Open Banking Advances in Nigeria; Singapore’s soCash Secures $6M Series B.
  • Paysend Garners $10.6 Million in Funding.

Around the web

  • PassTime partners with masterQueue to help locate and contact customers for debt collection.
  • Five Degrees is selected to join the Kickstart innovation program.
  • Voleo, Neener Analytics, Gremln Social, and Digital Onboarding all successfully complete 2019 FIS Fintech Accelerator program.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

masterQueue Closes First Round of Funding

Debt collection solutions company Intellaegis, which does business under the name masterQueue, is marking its first round of funding today. The amount of the investment is undisclosed.

“To this point, we’d been self-funded by the founders and two strategic Angel investors,” said Co-Founder and CFO Perla Lewis. “This allowed us to double staff and increase our year over year Q1 revenue from 2018 to 2019 by eighty percent.”

The company has also brought on Lance Suder, a former entrepreneur and Stanford grad, as its Director of Operations. “As masterQueue makes contacting customers easy, efficient and compliant, I’m proud to join their seasoned team, and we’re excited to have found an investor that shares our vision and passion,” said Suder.

masterQueue’s debt collections tools help recapture delinquent loans by gathering, organizing, and tracking big data from dozens of data aggregators to find customer assets. The resulting workflow facilitates compliant debt collection, skip tracing, and repossession efforts.

Debt collection technology is one of the lesser-heralded sub-sectors of fintech. Perhaps startups are hesitant to enter the space because of its associations with loan sharks. We have, however, seen a handful of successful entrants in the space, including TrueAccord, collectAI, and Global Debt Registry.

Headquartered in California, Intellaegis demonstrated masterQueue’s debt collection workflow at FinovateSpring 2011. John Lewis is president and CEO.

Finovate Alumni News

On Finovate.com

  • The ID Co. Lands $2 Million.
  • Finastra Inks New Bank Partners for its Blockchain-Based Lending Platform.
  • ClickSWITCH Raises $13 Million in Series B.
  • masterqueue Closes First Round of Funding.

Around the web

  • Fintech Switzerland lists additiv, finhorizon, and clevercircles on list of wealthtechs offering more than just roboadvisory.
  • Forbes on how Tradeshift is fighting modern day slavery.
  • Mint Life names FamZoo on list of apps to teach kids about money.
  • IBS Intelligence features CustomerXPS’ Clari5 in its latest report.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • NCR Unveils Business Banking Mobile App.
  • Inside Expensify’s New Concierge Bot.

Around the web

  • eFinancialCareers profiles Finovate newcomer, Overbond.
  • P2Binvestor wins finance and banking PowerBook award from Denver Business Journal.
  • Taulia tops one million mark for buyer-supplier relationships in its network.
  • Intellaegis announces new chairman, Mark Floyd.
  • Human Resource Executive magazine names PayActiv among its Top HR Products of 2016.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

American Banker’s “20 Fintech Companies to Watch” Features 11 Finovate Alums

FintechForward_AmericanBanker_BAIIn the same way that celebrities examine the memoirs of other celebrities to see if and how frequently their names are mentioned, I admit my first thought upon seeing American Banker’s roster of “20 Fintech Companies to Watch” was: “How many Finovate/FinDEVr alums?!”

American Banker’s “20 Fintech Companies to Watch” feature is a part of Fintech Forward, its collaboration with BAI. The goal of the partnership is to “identify the forces and trends that are motivating banks’ technology investment.”

Companies for the list were selected by a panel of judges from American Banker, BAI, Citi, Santander, and Rockland Trust, who focused on three criteria:

  • Does a company offer innovative technology?
  • Does it solve a real business problem?
  • Is it ready for prime time?

So with the bar set, here are the Finovate alums that made the cut.

Rounding out the top 20 were Untapt, Gigaspaces Technologies, IdentityMind Global, Addepar, Zenbanx, nCino, Moneythink, InAuth, and Iovation.

In addition to its “20 Fintech Companies to Watch,” Fintech Forward has produced its “Top 100 Companies in Fintech” and “Top 25 Enterprise Companies” rankings. Both rosters feature numerous Finovate and FinDEVr alums, as well.

Finovate Alumni News

On Finovate.com

  • Xero and ZenPayroll Win Honors at CPA Practice Advisor 2015 Reader’s Choice Awards
  • Finovate Debuts: Using Financial Media Solutions’ MAPPS to Create Videographics

Around the Web

  • MasterQueue, powered by Intellaegis, partners with Whitepages Pro.
  • Bitpost lists Coinbase and Blockchain as 2 of the top 5 bitcoin wallets on Android.
  • EVO Payments partners with Boomtown to simplify tech support for POS developers and merchants.
  • Fintech Today reports: With Paydiant, PayPal Will Be a Huge Hit with Merchants.
  • Blackhawk to integrate Kofax Mobile Capture SDK into its digital services platform.
  • Team One CU to pilot MShift’s AnyWhereMobile payment-network with a locally owned restaurant in Michigan.
  • SecondMarket’s Bitcoin Desk Relaunches as Genesis Trading.
  • Taulia named by AlwaysOn as a 2015 OnFinance Top 100 Company.
  • According to Gartner, Check Point Software Technologies lead the worldwide market share for firewall equipment in Q4 2014 and FY 2014.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

 

Finovate Alumni News– November 19, 2013

  • Finovate-F-Logo.jpgBillhighway listed as one of the 100 Best & Brightest Companies to Work for.
  • Actiance to launch Vantage Compliance App on Salesforce.com’s AppExchange.
  • Virtual Piggy launches new iOS mobile app. 
  • hyperWALLET to integrate with PayNearMe to offer cash payment acceptance options.
  • Uber is first company to use PayPal’s mobile SDK.
  • Acculynk offers UnionPay debit card acceptance to U.S. merchants.
  • American Banker takes a look at efforts by Moven and GreenDot to bring transparency to payments.
  • Techcrunch reviews Finovera, includes shout-outs to Mint, Manilla, and doxo.
  • Intellaegis to provide masterQueue to Portfolio Recovery Associates, world’s largest debt buying company.
  • The Week features Saved Plus in column “3 money apps that look more useful than Coin.”
  • MasterCard and Worldline partner to provide MasterPass-powered digital wallet.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Intellaegis’ masterQueue Technology Helps Catch Wanted Fugitive

intellaegis_logo.jpg

There are many ways to describe the innovators in financial technology.

And thanks to Intellaegis, we can add “fugitive catcher” to the list.

The El Dorado Country District Attorney’s office in California sought out the services of hometown technology company, Intellaegis, to help them find an elusive fugitive who had been on the run for years.
Watch the news report from the CBS Sacramento affiliate.
According to the report, masterQueue was able to track the fugitive’s data footprints as she traveled across the country to states as distant as Michigan, California, and Florida. The fugitive had been on the run for three years. masterQueue was able to track her down in five minutes.
Intellaegis was founded in 2009 and is headquartered in El Dorado Hills, California. The company debuted masterQueue in 2011 as part of FinovateSpring in San Francisco. See the company’s presentation here.

Finovate Alumni News– June 10, 2013

  • FinovateLOGO.jpgThe Oakland Tribune’s Inside Bay Area profiles OneID founder and CTO Steve Kirsch.
  • EZBOB adds variable lengths, longer periods, lower interest, and loyalty discounts on its loans.
  • Realty Mogul co-founder and CEO Jilliene Helman talks crowdfunding and real estate investing.
  • MicroStrategy business intelligence solution, MicroStrategy Express named a finalist at 2013 American Business Awards.
  • Newfination interviews Jilliene Helman, co-founder and CEO of Realty Mogul.
  • SF Gate blog looks at Personal Capital, Wealthfront, and FutureAdvisor.
  • Newfination interviews Kristoffer Lawson, Holvi CEO, on replacing your bank with Holvi.
  • Mortgagebot launches MortgageMarvel site to help consumers shop for mortgages.
  • CNET interviews Lending Club CEO Renaud Laplanche on recent funding and future growth.
  • Bloomberg BusinessWeek takes a look at the business of Google Wallet.
  • Money Under 30 reviews TradeKing.
  • Intellaegis’s masterQueue technology helps catch wanted fugitive.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.