Before looking into automation, we need to find answers to some of the basic questions. Is it safe to send the initial demand letter, also known as the model validation notice (MVN) to consumers through email?
Yes, experts across the ARM industry confirmed that one of the best and safest methods to send the model validation notice (MVN) is through email. Even better if agencies send these communications using their own email systems rather than using vendors to avoid any third-party disclosure since many of these letters may include itemized statements and other information including PII and PHI.
Once the accounts are identified for email communication (if you have the necessary consent), especially the ones with correct email address, by building the needed data set, you can use RPA bots to prepare the customized letters for each consumer and communicate through email. While retrieving the data from the collection system, ensure to include all the needed data fields including the consumer contact details, address, account number, original balance, amount owed, date of service, etc. Using your existing email, may it be Outlook, Microsoft 365, RPA bots can draft the notice and send these emails in a secure manner.
Experts advice is to use the CPFB’s prescribed model validation notice and include all the consumer specific details. While building the business rules for automatically drafting the letters, ensure to add necessary validations to include state specific language.
Additionally, program the RPA robot to track the bounce emails and notify the users to update the email address on the record to ensure those consumers receive the notice through print mail. Also, all incoming responses to these emails can be monitored by the robot and take actions by a) updating the collection system b) send templated responses to consumers and increase engagement, c) guide users with various payment options, d) notify the respective teams for taking necessary actions and follow up, etc.
Note: These are not legal advice but some of the best practice adopted from industry wide and shared here for the benefit of all. Please consult with your legal advisory team about sending validation notices through email in a compliant manner.
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