Wipro Insurance Solutions, LLC (WIS), NMLS # 1125828, offers Business Process Outsourcing (BPO) services for consumer lending collections. Collection activities are a highly regulated field in the US, and licensing is generally required for any activities in which Wipro employees collect a debt that is due or owed at the federal and state level.
WIS provides various services, including:
WIS assists its clients with consumer account management which may include working with consumers who have accounts that are past due (usually owned by the lenders who originally made the loans or extended the credit). All activities are performed in the system of WIS’s clients and in the name of WIS’s clients.
Third-party collection services
WIS activities meet the definition of third-party collection, directly or indirectly collecting or receiving payment for others of any delinquent account, bill, claim or other indebtedness (not including mortgage indebtedness). These activities include, but may not be limited to:
Debt collection services
Regarding debt collection, WIS focuses on:
The processes involved within these functions include:
Licensing and branch locations
WIS holds all required licenses for East Brunswick, NJ (US) and operates branch locations out of Guadalajara, Mexico, Pune, India and Manila, Philippines. WIS also provides customer service, processing, and technology support for Federal Student Loan Servicers.
Federal student loan servicing
Our stewardship, extensive training, coaching, development, and commitment to providing outstanding services have increased the federal student loan servicers’ ranking with the Department of Education, and we follow all client procedures implemented by Federal Student Aid and Department of Education.
Activities conducted in the states
The activities conducted in the states depend on the licenses held and the activities permitted under Federal clearance and licenses as applicable. The possible activities include:
Student loan servicing licensing
For our Student Loan Servicing licensing, we are in the process of holding all required license for East Brunswick, NJ (US) and operate branch location out of Tampa, Florida.