WASHINGTON, D.C. – May 25, 2022 – The iA Institute, publisher of insideARM, the premier publication for the credit & collections industry, and Provana, provider of the industry’s first unified platform for compliance and performance management, today announced a broad partnership to enhance the support both firms deliver to industry participants. As part of the partnership, Provana is making significant investments into iA Institute programs, including Research Assistant, Innovation Council, Consumer Relations Consortium, and Women in Consumer Finance, with a goal of bringing additional value to its members and expanding the membership.
“Provana is a predominant industry player in credit and collections when it comes to its breadth and depth of products and global delivery model for businesses operating in these markets,” said Stephanie Eidelman, CEO of The iA Institute. “We are pleased to collaborate with the Provana team to extend the charter of our programs and better serve industry players.”
“The iA Institute is a leading voice in the consumer finance market, especially pertaining to the regulatory hurdles of the full debt lifecycle,” said Sandeep Bhargava, CEO of Provana. “This partnership reinforces our mission to become a one-stop compliance and performance solution, providing digital capabilities, global delivery and thought leadership that raises the bar of competition in a way that benefits consumer finance industry participants.”
There are a number of ways The iA Institute and Provana plan to create value for the industry. One way in particular is through the Research Assistant program, which provides a forum for compliance practitioners to solve challenges together as a peer group. The group not only includes practical compliance tools and regular analysis, but it also develops meaningful peer-built content based on tangible experience, which Provana will make available to subscribers though its own compliance management platform.
“We look forward to taking an active part in the forums managed by The iA Institute,” said Britney Schaeffer, Director of Content Programs at Provana. “Provana has a rich heritage of thought leadership in solving compliance and performance issues for credit & collections businesses. We believe we can bring valuable new thinking to the Innovation Council and to compliance-related discussions.”
“With Provana’s knowledgebase of industry processes and data, we anticipate Provana’s contribution in our Research Assistant program to help our subscribers a great deal,” said Aaron Steinberg, Chief Growth Officer of The iA Institute. “Provana brings a passion for leadership that puts women at the decision-making table, which means they will also have a lot to contribute in the Women in Consumer Finance forum.”
Overall, the goal of the partnership is not only to create value for current iA Institute and Provana subscribers, but to deliver that same value to a broader base of industry constituents, including banks, fintechs, specialty finance players, and other enterprises that provide financing of their products and services to consumers. Many longtime industry participants have expressed positive sentiment about the partnership and its long-term implications for the consumer finance industry.
“I have worked productively with both organizations for multiple years,” said Marian Sangalang, Vice President at The Bureaus, Inc. “With the changes in the regulatory and economic environment around our industry, I can think of no better time for these key players in our space to take their collaboration to the next level.”
“The consumer finance industry is long overdue for a partnership of this nature,” said LaDonna Bohling, Chief Compliance Officer at Contract Callers, Inc.. “The lines between traditional creditors, their collections networks, and new tech-first creditors are blurring in the eyes of industry regulators. A thoughtful collaboration between two leading content and tech providers will help our industry raise the game for everyone involved.”
About The iA Institute
The iA Institute is a media company that specializes in providing context, insight, and practical information to the complex debt industry. With its long history as an innovator, the company has grown from its inception as a publisher of a daily newsletter to one that influences the industry at the highest level. Our initiatives bring a range of stakeholders to the table in a candid environment to inform, to build a culture of compliance, to address industry challenges, and to make profitable connections. Our initiatives cover three areas: Legal & Compliance, Strategy & Tech, and Women & Diversity. Learn more at www.theiAinstitute.com.
Provana’s interaction management and compliance solutions are the first of their kind, providing effortless control over process-intensive operations. Available for consumer lending, legal, ARM, insurance and other industries that handle heavily regulated consumer interactions. Provana technology is based on over a decade of business process management, AI, RPA, regulatory compliance and secure data operation experience. Solutions include speech analytics, a compliance suite, omnichannel payments, legal tech, and business analytics, comprising a one stop digital transformation platform for small and medium enterprises. Provana is backed by a NYC-based Fintech PE, with a presence across the US and in India. Learn more at www.provana.com.