Oliver completes acquisition of Lawgix Services

Walker White

April 4, 2023

Oliver completes acquisition of legal managed services provider to deliver full-service platform to U.S. creditors

The combination of Oliver’s software-as-a-service technology with the managed services capabilities of Lawgix Services creates an end-to-end solution to deliver efficient recoveries for the default management industry.

WASHINGTON, D. C. — 04 APRIL 2023 — Oliver Technology Corporation (“Oliver”), the leading debt collection software platform, has announced that it completed the acquisition of Lawgix Services, the leading provider of managed services for collections litigation. Oliver now is uniquely able to provide creditors a complete solution for the entire collections litigation process, with expertise in collections law, process engineering, and technology.

Walker White will continue as CEO of the combined organization, and John Ritter, who served as CEO at Lawgix Services, has assumed the role of President.

“This acquisition marks a critical step forward for us in bringing the Oliver vision to life: foster a consumer lending lifecycle that is precise, fair, and compliant,” said Walker White, CEO of the combined organization. “I look forward to all that is ahead for this company, and I am delighted to be working alongside John to get it done.”

Oliver is working to transform the default management market to the benefit of all parties. To achieve that, Oliver enables lenders to efficiently collect debts they are rightly owed while maintaining rigorous compliance and preserving their reputation.
With the acquisition of Lawgix Services, Oliver now delivers both a secure and efficient SaaS platform and industry-leading managed services to facilitate legal, operational, and financial transactions across all stakeholders in the default management process. Oliver’s vision is that combination will improve the process for all parties – including consumers.

As CEO, Walker White continues to have primary responsibility for managing investors and raising capital. John Ritter will take on the role of President, focusing on executing strategy by managing day-to-day operations and collaborating with Mr. White and the senior leadership team. Their combined backgrounds in leadership roles in software-as-a-service (SaaS) software companies and FinTech lay the foundation for Oliver’s transformational vision of the default management process.

“This is a new day for Oliver and the first step toward a new vision for the default management industry,” said Mr. Ritter. “I am delighted to be leading Oliver’s world-class business alongside Walker and look forward to delivering on our mission and vision.”

To learn more about Oliver, please visit: www.olivertechnology.com.

Media Contact:
Oliver Technology Corporation
Amy Hinzmann, Chief Revenue Officer
amy.hinzmann@olivertechnology.com
+1 888-699-2480

How to cut collection legal fees without cutting corners

Walker White

December 5, 2022

There’s more to managing the collection of legal expenses than simply using contingency fees. After all, the largest expense line in most collection-litigation programs is legal fees.

Simply demanding lower fees can be counterproductive. In this new age of increased regulatory scrutiny, creditors can’t afford to have their law firms cutting corners.

Today, leading-edge creditors are using technology to reduce their legal costs while at the same time making their litigation programs more effective. New cloud-based systems can simplify information flow and collect benchmarking data needed to optimize the use of resources.

The result: Lawyers spend less time tracking down information and more time collecting debts and ensuring compliance.

Here are four of the best techniques for improving the efficiency of collections litigation:

Automation-driven efficiency. Cloud-based technology centralizes communication and document management. Streamlined workflows can substantially reduce the time and labor that law firms spend handling each account.

Centralized vendor management. Collections law firms rely on outside companies to perform many of the functions they need to service accounts. These functions include process service, account scrubbing (to prevent collections for deaths, bankruptcies, and active service members), letter mailing, and asset searching. Rather than relying on individual firms to select vendors, creditors can negotiate umbrella contracts, often at preferential rates, for use by all their law firms.

Data-informed firm selection and service-level-agreement management. With good collection litigation software, creditors can now calculate benchmarks for velocity and recoveries in each jurisdiction. If one law firm is underperforming, a creditor then has the information to negotiate tighter service-level agreements or even shift accounts to another firm in that state.

Restructured fee arrangements. By reducing the time and effort law firms need to spend on each case, creditors are in a strong position to negotiate lower fees. Some lenders may even choose to move away from the standard contingency-fee model entirely. Instead, they can negotiate flat fees for lawyers to perform specific services, such as sending demand letters and filing complaints. (If the case results in a judgment, it may be appropriate to set the fee for asset recovery as a percentage of the amount collected.)

Creditors that automate their collections litigation not only find ways to reduce legal costs, they also reduce errors, improve compliance, and increase the velocity of recoveries. Learn more by downloading the Oliver Guide: “High Performance Collections Litigation: Five ways analytics and automation can increase recoveries, improve compliance, and reduce hassle.”

Oliver announces intent to acquire Lawgix Services

Walker White

October 26, 2022

Oliver announces intent to acquire legal servicing provider to create 360-degree collections litigation solution for creditors.

Addition of services offering to the Oliver software platform provides a fresh approach for creditors executing repetitive collections litigation processes.

WASHINGTON, D.C. – 26 OCTOBER 2022 – Oliver Technology Corporation (“Oliver”), the leading debt collection software platform, today announced the company’s intent to acquire Lawgix Services, the leading provider of managed services for collections litigation. The deal is expected to close January 1, 2023. With this acquisition, Oliver will add to its market-leading collections litigation platform a complete solutions offering and provide a revolutionary approach for creditors executing repetitive processes in collection litigation.

Specifically, in addition to utilizing Oliver’s world-class technology platform, including automated features, creditors will now also be able to tap a world-class team of experts in collections law, process engineering, and technology to handle critical tasks across document creation, case management, payment processing, and vendor coordination.

“This deal represents a critical step forward in Oliver’s evolution from technology platform to 360-degree solution for our creditor clients undergoing the complex and often-repetitive collections litigation process,” said Walker White, CEO, Oliver Technology Corporation. “Creditors are voicing a clear need for expert services in addition to top-quality technology to help them navigate an evermore complex collections litigation space. With this move, we are answering that call.”

The Oliver Advantage
Oliver:Services can replace the traditional model in which each law firm is responsible for the administrative and financial processes in collections litigation. These functions can be handled more efficiently by the central team at Oliver:Services, allowing lawyers to focus on litigation. Benefits include:
● Consistent, precise execution of litigation workflow by a dedicated team of trained paraprofessionals
● Document filing and case management optimized for every U.S. state and local jurisdiction
● Standardized document creation with automatic routing for attorney review
● Tighter controls that set the standard of care for regulatory compliance, security, and privacy
● More accurate accounting, with vendor payments reconciled and recoveries posted to creditors’ general ledgers
● Centralized monitoring and auditing
● Significantly lower total cost for creditors

“We are delighted to be joining the Oliver team. This is really a story of coming home for us, at a time when quality control, transparency, compliance and experience are the highest priorities for top-flight creditors pursuing collections litigation on an ongoing basis,” said John Ritter, CEO, Lawgix Services. “I can’t wait to see all we can accomplish, together.”

To learn more about Oliver, please visit: www.olivertechnology.com

To learn more about Oliver’s services offering, coming January 2023, please visit:
www.olivertechnology.com/products/#Oliver:Services

ABOUT OLIVER
Meet Oliver. We bring precision to complex litigation, focusing on debt collection today. Our software helps creditors and law firms work together across the entire debt collection lifecycle: creditors gain control of their litigation efforts, law firms have an efficient way to collaborate, and consumers are ultimately treated like people, not debtors. Our technology removes inconsistencies, prevents unnecessary errors, and keeps organizations in compliance. It creates operational firepower. And it enables people to work on the important things. We are working to change debt collection’s bad name by building Responsible Software at the intersection of RegTech and LegalTech. All that and more is why leading debt collection operations run on Oliver.

ABOUT LAWGIX
Lawgix provides best-in-class managed services across the entire collections litigation process. The Lawgix team is comprised of creditors’ rights attorneys and paralegals, process engineers, and technologists working in collaboration with creditors, law firms, and constituent stakeholders to create the most effective, efficient, and compliant solution on the market.

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Oliver completes acquisition of Lawgix Services

Oliver completes acquisition of legal managed services provider to deliver full-service platform to U.S. creditors

The combination of Oliver’s software-as-a-service technology with the managed services capabilities of Lawgix Services creates an end-to-end solution to deliver efficient recoveries for the default management industry.

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How to cut collection legal fees without cutting corners

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Oliver announces intent to acquire Lawgix Services

Oliver announces intent to acquire legal servicing provider to create 360-degree collections litigation solution for creditors.

Addition of services offering to the Oliver software platform provides a fresh approach for creditors executing repetitive collections litigation processes.

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