DENVER, March 19, 2012 /PRNewswire/ -- SquareTwo Financial, a leader in the $100 billion asset recovery and management industry, today announced the company has completed the move from its legacy STARS debt management system to its new, state-of-the-art eAGLE system.
The new eAGLE system is integral to the company's core business decisions of acquiring and managing debt and also serves as the foundation for the SquareTwo Financial Partners Network, which includes 36 affiliates across the United States. The eAGLE system assesses and loads debt, then distributes that debt to SquareTwo Financial's Partners, where payment processing and reconciliation can occur. Migrating to the new system included moving more than 7.5 million accounts valued at more than $23 billion. The system processed 103 million transactions in 2011.
"The new eAGLE system is an integral part of our core business operations. In addition to housing all of our accounts and account transactions, the system looks at variables such as debtor behavior and economic trends and makes us as successful as possible at purchasing and liquidating debt," said Paul A. Larkins, president and chief executive officer at SquareTwo Financial. "This new technology is one of the most important factors separating our company from the competition, and our talented information technology team deserves all of the credit for its development and implementation."
The company's IT team is lead by William A. Weeks, senior vice president and chief information officer. Dan Parks serves as vice president, technology operations and infrastructure; Chris Reigrut is vice president and chief technology officer; and Mark Wilson is director of product development. All three men report directly to Weeks to help manage the company's 75-person tech team.
"This is one of the smartest, most experienced technology teams I've had the opportunity to work with my career," said Weeks. "Information technology is a cornerstone at SquareTwo Financial, and these three men and their teams have transformed the company's technology infrastructure over the past two years."
About SquareTwo Financial:
SquareTwo Financial is a leader in the $100 billion asset recovery and management industry. Through its award-winning technology and unique Partners Network, SquareTwo Financial creates a more effective way for companies and consumers to resolve their debt commitments. Fortune 500 companies in the health care, automotive, banking and credit card industries trust SquareTwo Financial to manage their debt portfolios. The company's national network of legal partners is dedicated to treating consumers fairly and ethically. SquareTwo Financial is based in Denver, Colo. Visit www.squaretwofinancial.com for more information.
SquareTwo Financial Website: www.squaretwofinancial.com
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SOURCE SquareTwo Financial