RESULV Announces New Compliance Product for ARM Payments

Resulv LLC is excited to announce the launch of its new compliance product, Comply.  Comply was developed to solve authorization regulations required by NACHA and Regulation E.

The CFPB’s Office of Supervision determined that the majority of the debt collection industry does not secure proper written authorization prior to recurring ACH or debit card transactions.  Getting a consumer to either fax, email, or mail back an authorization for payments that they have verbally approved can be challenging.  The success rate of all three combined forms of verification is less than 23%.  However, when consumers are allowed to e-sign agreements, the success rate jumps to over 74% on the first notice and 96% after reminder notifications are received.

COMPLY works as follows:

• The consumer sets up recurring transactions with your agent.
• Your agent explains he or she needs to confirm the arrangement and offers four authorization options:

o   EMAIL – The consumer receives an email with a link to Comply’s website where authorization is confirmed.

o   TEXT – The consumer receives a text message with a link to Comply’s mobile browser where authorization is confirmed.

o   LIVE – The agent verbally provides the consumer Comply’s web address and talks the consumer through the authorization process.

o   PAPER – The agent prints the PDF form from COMPLY,  mails it to the consumer to sign, and the consumer return the sign copy via mail.

• COMPLY tracks and records all levels of authorization, including the IP address and time authorization was provided.
• The consumer is given a PDF of their authorization.
• The agent has the ability to be alerted when a consumer has completed an authorization.

With the rising costs for failure to meet compliance regulations in mind, Comply offers an affordable and efficient solution for obtaining written authorization for ACH and debit card payments.

Resulv LLC was formed in 2013 by ARM industry peers.  Data is hosted in our SSAE16 Type 2 datacenter.  Our mission is to make compliance easy, streamlined and inexpensive.

For more information please visit www.resulv.com/products/comply or email us at info@resulv.com.