October 20, 2021
San Diego, California – To streamline and grow their core business, Vervent will cease operations of their Activate Financial collections subsidiary effective November 30th, 2021. This is a strategic business decision to focus talent and resources on the high-growth areas of business and move away from the ever-changing regulatory environment for collections activities and the increased regulation and decreased flexibility that goes along with the new laws.
“This is a smart move for Vervent to continue supporting future innovation and expansion. The Activate Financial collections division has been a good business, but we feel Vervent, our clients and are staff are better served by focusing on our core growth solutions and expanding our credit card, capital markets and servicing businesses,” says Stephanie Jimenez, President, Vervent.
This announcement comes on top of several other strategic moves that Vervent has made in past months including the launch of the Revvi Visa card program with MRV Banks, a new payment processing partnership with CoreCard and the expansion to five operations centers to better serve their client partners with more options for quality voice and non-voice servicing.
As one of the pre-eminent fintech servicing companies, Vervent sets the global standard for outperformance by delivering superior expertise, future-built technology, and meaningful services. We support our industry-leading partners with primary strategic services including Loan & Lease Servicing, Credit Card Programs & Servicing, Capital Markets Support, Call Center Services, and Card Marketing & Customer Acquisition.
Vervent empowers companies to accelerate business, drive compliance, and maximize service. Contact us today to find out how we can help your business grow at 888.486.2509 or Solutions@Vervent.com.
Vice President, Marketing