Shaw Systems Associates, Inc. announced that Persian Acceptance Corporation (PAC) has signed an agreement to use Shaw’s Consumer Loan Servicing solution (RETAIL and COLLECTIONS) in a hosted environment.
Persian Acceptance Corp, a sub-prime indirect auto lender, decided to migrate their loan servicing portfolio to the Shaw platform in order to leverage increased business functionality, workflow automation, and enterprise reporting.
“PAC plans to continue to grow its portfolio in the Northeast, and we needed a loan servicing solution to help us accommodate that growth and adapt to changes in the marketplace,” said Vickie Robbin, Compliance & IT Officer.
Shaw’s customer-centric portfolio management solution supports a wide range of consumer lending products including loans, line of credit, home equity, dealer/indirect, floor plan, commitments, escrow, securitization, and insurance. Accommodating every phase of an account’s life cycle, the system automates processes and helps companies navigate the dynamic credit landscape.
About Persian Acceptance Corp
PAC, which is headquartered in Wakefield, Massachusetts, was established in 1998 and is licensed and generates receivables in Massachusetts, New Hampshire, Maine, Connecticut, and Vermont. It currently has an active base of 362 automobile dealers who source vehicle sales finance contracts for PAC. PAC currently has $42.7 million (USD) in finance receivables.