[Henderson, Nevada] 2023 – EverChain, the consumer-centric Recovery Management Solution (RMS) for consumer lenders and creditors, announced that it has patented Universal Due Diligence (UDD), a compliance management system that allows for Sellers, Buyers, and Agencies to submit for certification, submit for recertification, update, and confirm due diligence documents.

EverChain’s UDD provides unprecedented visibility into the client partners and also harnesses the power of five key advantages:

  1. UDD gives buyers the ability to view due diligence information on the Seller and the portfolios they’ve brought to market in real time at the time they are reviewing portfolios for bid.
  2. The system gives the Seller the ability to review all due diligence on the Buyers and their Agencies at the time they are reviewing the bids received and determining with whom to partner for the sale.
  3. Allows for Sellers to review buyer and agency due diligence within the platform in real time that is always up-to-date and accurate for any buyer or agency that has previously purchased or worked their account.
  4. It gives Sellers visibility into historical complaint data about the Buyers and Agencies prior to choosing to do business with them via a Borrower Experience Score (BX) and after the sale and an ability to communicate regarding consumer complaints via the EverChain platform which is a safe environment.
  5. UDD gives Sellers the ability to evaluate historical deal sale data about the buyers via a Deal Experience Score (DX) prior to choosing to do business with them and after the sale while also providing both Buyers and Sellers access to historical post sale data via a Post Sale Experience Score (PDX).

These advantages make UDD the most unique due diligence system on the market and solidifies EverChain’s mission of removing risk and protecting the consumer through market-disrupting technology.

“When I founded EverChain in 2012, the debt sale and placement marketplace for default debt portfolios was inefficient and flawed,” Matthew Wratten, Chairman and CEO of EverChain said. “Over the last decade, we’ve rapidly introduced truly market-changing products and services. Our Universal Due Diligence system is one-of-a-kind. I am proud of the work our team has done internally and externally to ensure that this system benefits all clients, consumers, sellers, buyers, and collection agencies.”

About EverChain

EverChain is a debt broker and recognized pioneer of compliant and data-driven debt sales. In 2012, EverChain developed a market-disrupting debt sale management solution, and launched the first and largest certified debt buyer network for buying debt or selling accounts. Over the past decade, EverChain has facilitated the sale and transfer of billions of dollars in uncollected debt while simultaneously infusing creditors with millions of dollars in revenue — all with unprecedented consumer-centric compliance. EverChain specializes in the following areas of consumer debt: Auto Finance, Utilities, Buy Now Pay Later (BNPL), Payday Loans, Credit Card Deficiencies, Bankruptcies and Point of Sale Loans.