Quantrax Software Supports Leading ED Debt Collection Contractor

Quantrax Corporation, Inc. today announced that the company will continue its partnership with Financial Management Systems (FMS), an accounts receivable management (ARM) firm dedicated exclusively to the student loan sector.

FMS, a Private Collection Agency (PCA) for the U.S. Department of Education, has relied on Quantrax debt collection software since its 2004 Task Order with the Department.

Quantrax has grown alongside FMS, continually improving its scalable collection software to support FMS’ growing footprint in the ARM industry. A decade ago, FMS began as a small business within the Department’s Small Business Pool of Private Collection Agencies (PCAs). In 2009, FMS was awarded a contract in the Unrestricted Pool of PCAs. Under this contract, the Company has earned six (6) first place rankings and currently is in First Place per Long Term CPCS scores.

The Quantrax RMEx/Intelec® application was initially designed to provide collection operations with software that could think and make decisions like a human collection expert. Over the years, that concept has been expanded, with positive results and productivity gains, into different areas of collection workflows, account, account representative and compliance management.

“As we continue to expand services for all of our clients, the Intelec® system will continue to be the primary driver that supports the organization to better serve students and meet regulatory demands,” said FMS Executive Vice President and Chief Operating Officer Maureen Peterson.

Quantrax Corporation is a technology company with state-of-the-art collection software and related products for collection agencies, law firms, hospitals, auto finance, student loans, utilities, banking or anyone that manages their own receivables. RMEx was designed and built in 1990, and its design is based on artificial intelligence and knowledge-based debt collection software. Quantrax is uniquely positioned as a result of a 20-year track record with knowledge-based collection systems for the ARM industry. In 2003, Quantrax created the most advanced integrated dialer platform that the industry has to offer. Simply stated, it is different, and better. RMEx runs on what may arguably be the most powerful, scalable and reliable hardware platform ever built – the IBM iSeries (formerly the AS/400). Visit www.quantrax.com for more information.

FMS is a best-in-class provider of ARM solutions to high-profile entities in the government, education, and financial service sectors. The Company is a subsidiary of CEANNATE Corp., a leading business process outsourcing (BPO) company, providing key expertise in the financial environment surrounding higher education in the United States.  The company maintains its corporate offices in Rolling Meadows, Illinois and staffs approximately 1,000 employees across its headquarters and branch locations in Rockford and Buffalo Grove, Illinois. The CEANNATE companies include Financial Management Systems, i3 Group, LLC, and Loanlook, Inc., which collectively provide education loan servicing to millions of students and borrowers across the United States. Visit www.CEANNATE.com for more information.