More collaboration developed in an effort to enhance the efficiency — and compliance — involving vehicle repossessions and recoveries.

Allied Finance Adjusters (AFA) and Vendor Transparency Solutions (VTS) recently entered into an exclusive joint venture agreement that executives say will add value to both members of AFA, subscribers of VTS and the clients utilizing the services of both groups.

Executives highlighted VTS subscribers that qualify will be given an exclusive offer from AFA to join the national trade association. They insisted this opportunity will provide those professionals who take advantage not only the benefits of being a member of AFA, but also access to the only crime policy formally known as the “bond” being offered by the national trade groups.

These professionals will also have access to an AFA’s on-staff attorney for legal consultation at no additional cost.

The organizations went on to mention this agreement will also create a new network of more than 400 professionals who are trained, vetted and carry the only crime policy offered by a national trade association. This network will also add value to the clients that utilize VTS, clients of VTS will have access to every AFA member, which will also give added exposure of AFA members to these clients.

“VTS is recognized as the most comprehensive compliance monitoring and continuing education service in the asset recovery industry,” said Max Pineiro, president of Vendor Transparency Solutions.  “We currently house the largest subscription base of compliant service providers and lending institutions in the industry.

“We look forward to our partnership with Allied Finance Adjusters and providing their members with VTS’s risk management solutions,” Pineiro continued.

VTS has given AFA access to its solution that now is called Allied Compliance Powered by VTS. AFA members will have access to all employee handbooks, policy and procedures manuals and continuing education training modules.

This will be at no cost to the members of AFA in an effort to deliver “the true transparency of members of AFA” to auto finance companies who leverage these services.

“Allied has always taken education and compliance training very seriously, this is just one more of many benefits to our members” said James Osselburn, president of Allied Finance Adjusters.

“I am excited to extend this exclusive offer to the professional recovery companies subscribed to VTS so they, too, can see the benefits of belonging to our great association," Osselburn went on to say.