Frequently asked questions

 

  1. What is RDN?
  2. Who could use RDN's software?
  3. What is a RDN Global Client?
  4. What is a RDN Full Version User?
  5. What is a RDN Limited Version User?
  6. What can RDN do for a Lending Institution?
  7. What can RDN do for a Repossession Related Service provider?
  8. How can I get a demonstration of the functionality of RDN?
  9. Does a Repossession Related Service provider have to belong to a Trade Association or have to meet any special insurance or other requirements to use RDN?
  10. How can a Lending Institution register to use the Global Client interface?
  11. How can a Repossession Related Service provider register to use the Full Version interface?
  12. How can a Repossession Related Service provider register to use the Limited Version interface?
  13. Can RDN be integrated into a lending institution's legacy collection software so that collectors do not have to log into the RDN Global Client interface?
  14. What are the advantages derived by a lender through integrating their collection software with the RDN Global Client Interface?
  15. Are their any special computer, software, or hardware requirements for using RDN?
  16. What if a User needs help using the software?
  17. Is RDN owned by a forwarding company, repossession company, or any other entity that is involved in providing repossession related services to auto lender?
  18. Does RDN verify insurance Accord certificates, review the financial stability, perform site visits, or perform background checks on Full Version or Limited Version Repossession Service providers that utilize RDN?

 

1. What is RDN?

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Recovery Database Network, Inc. ("RDN") is a specialized provider of software and data solutions related to the recovery of assets for the automotive finance industry in the United States. The Recovery Management Database System, Powered by RDN is an efficient, centralized, neutral, on-line recovery management and communications software application.

 

2. Who could use RDN's software?

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Lending institutions, repossession companies, field visit companies, skip tracing companies, and forwarding companies. Practically any member of the collateral recovery and re-marketing "value chain". As long as there is collateral to be recovered and sold.

 

3. What is a RDN Global Client license?

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Global Client is RDN's term for lending institution customers. RDN was the first recovery software application developer to realize that maintaining a different "Username" and "Password" for every vendor's website was simply not a feasible solution, especially for large lenders that deal with in excess of 500 vendors annually. Therefore, RDN developed the concept of one Login that provided a "Global" view of all of the lender's service providers within one software application. Thus the term "Global Client".

 

4. What is a RDN Full Version User license?

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The Full Version license is chosen by service providers that desire to utilize the RDN product to operate their company and RDN is their workflow software of record.

 

5. What is a RDN Limited Version User license?

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The Limited Version license is utilized by service providers that utilize another workflow software application to operate their company, but they need to be able to interact and/or communicate with Lending Institutions that utilize RDN exclusively to manage their recovery related needs throughout the United States.

 

6. What can RDN do for a Lending Institution?

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RDN's software application is a two-way e-commerce network and communication platform that extends electronic connectivity into a segment of a lending institution's business where there was previously very little penetration. RDN can be utilized as a complimentary tool to existing legacy collection software systems, or can create tremendous efficiency by being integrated directly into the lender's legacy collection system. The network creates value by aggregating lending institutions and collateral recovery service providers resulting in marketplace liquidity (a critical mass of lenders and service providers), thereby creating benefits for both parties. Such benefits result in the further creation of value by reducing search costs, reducing transfer costs, standardizing systems, and improving matching for both lenders and their recovery related service providers. Lenders benefit because they have more choices and service providers benefit because they have greater access to lenders.

 

7. What can RDN do for a Repossession Related Service provider?

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RDN provides a top tier recovery management and communication software application that assists service providers in operating their entire business workflow. The owner or manager can track the progress of any account in real time the same way you track a FedEx package.

 

8. How can I get a demonstration of the functionality of RDN?

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Click here to submit a demonstration request, or call 817-204-0298 Ext. 2.

 

9. Does a Repossession Related Service provider have to belong to a Trade Association or have to meet any special insurance or other requirements to use RDN?

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No. RDN is strictly a specialized provider of software and data solutions and does not have any prerequisites that must be met for a service provider to license our software.

 

10. How can a Lending Institution register to use the Global Client interface?

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Click here to submit a demonstration request, or call 817-204-0298 Ext. 2.

 

11. How can a Repossession Related Service provider register to use the Full Version interface?

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Click here to submit a request for a Full Version license agreement and set up forms, or call 817-204-0298 Ext. 2.

 

12. How can a Repossession Related Service provider register to use the Limited Version interface?

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Click here to complete the online registration form.

 

13. Can RDN be integrated into a lending institution's legacy collection software so that collectors do not have to log into the RDN Global Client interface?

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Yes. RDN has fully integrated our software with numerous different legacy collection systems, including systems utilized by several of the top 25 largest auto lenders in the United States.

 

14. What are the advantages derived by a lender through integrating their collection software with the RDN Global Client Interface?

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Integrations create large scale efficiency by eliminating double data entry, reducing labor costs, and equally important it eliminates the need for a collector to bounce from one software environment to another, which reduces training costs typically associated with adopting a secondary software application.

 

15. Are their any special computer, software, or hardware requirements for using RDN?

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Other than having a computer with internet access, no other special requirements exist.

 

16. What if a User needs help using the software?

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All questions related to Technical Support, or "New RDN Feature Requests" should be submitted by selecting the "Support" link at the top page of the main menu within the RDN application.

 

17. Is RDN owned by a forwarding company, repossession company, or any other entity that is involved in providing repossession related services to auto lender?

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No. RDN was founded by two industry veterans, however the founders sold their previous repossession related service companies in order to avoid even the appearance of a "Conflict of Interest" that might be perceived by storing and processing data for companies engaged in the same type of business.

 

18. Does RDN verify insurance Accord certificates, review the financial stability, perform site visits, or perform background checks on Full Version or Limited Version Repossession Service providers that utilize RDN?

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No. RDN is not a Trade Association, Franchise Company, Insurance Buying Group, or Vendor manager. It is the responsibility of Global Clients to maintain their own vendor compliance program, and maintain a current "Approved Vendor" list, by building their own list within the RDN environment. With over 2,100 Service Providers utilizing RDN, we make it easy for the lender, but we do not perform such services on their behalf.