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Auto-Cash ™
Cobra AutoCash™, another Swanson first, was developed to provide
correctional facilities with an automated method for residents to receive
electronically transferred funds into the Cobra Banker® resident banking
software.
AutoCash provides a number of partners your facility can select from
to allow for family and friends of relatives to send money via a number
of payment options including cash, credit and debit cards.
Together with our partner vendors, AutoCash provides your facility with
a solution to the growing problem of tracking and crediting deposits made
to resident trust fund accounts. The money is electronically transferred
from the selected vendor to the Cobra AutoCash module. This provides your
facility with a cost-saving methodology for receiving resident deposits.
Accountability
- Funds are posted to the resident’s account and the facility
checking account with a complete audit trail via the AutoCash module
- Tracking the destination of funds is easy since the resident’s name
and ID number are captured
- Funds transferred via the AutoCash module are guaranteed, thus eliminating
counterfeit currency and bad money orders
- AutoCash partners are experienced in the field of correctional payments
Cost Savings
- Money is posted automatically to the resident’s account
- Reduce the opportunities for lost cash or misplaced money orders
- Reduces labor costs by reducing incoming mail and money order volume
- Only active accounts will be eligible to receive funds thus eliminating
receiving funds for released or transferred residents
Cobra AutoCash continues the Swanson’s tradition of leading the
corrections industry in introducing new and exciting technology to our
clients. Increasing payment options only makes it easier for the flow
of funds to resident accounts, thus increasing both commissary and cost
recovery revenues!
Auto-Collect ™
Swanson Services Corporation® introduces Cobra AutoCollect™ a
unique and fully automated approach to increasing revenue
from cost recovery for correctional facilities.
This module enables Swanson’s clients to actively
persue debt collection after a resident is released. This
solution provides clients with an additional revenue collection
alternative to conventional debt collections without wasting
precious staff resources.
Module Overview
- Increases revenue from debt formerly classified as “Uncollectible”
- Contingency fee based – No up front costs
- Services rendered by highly trained professionals are licensed in all 50
states
- Streamlined process and State-of-the-Art technology
- Facility will receive 50% of debt collected
- Facility receives monthly reporting along with a check for collections
Process
- Resident is released from facility
- A file is created once per day containing records of residents who were
released with total debt balance of at least $25.00.
- Eligible Debt will be sent to collection agency & written off in Cobra
Banker®
- Resident debt records are sent daily to Cobra Software Group with resident
information, debit detail, and balance
- Resident debt records are transmitted electronically to the 3rd party collection
agency
- Collection agency accepts a file from Cobra Banker with the information
on released residents with their debt information
- The facility will receive a daily acknowledgement report from the collection
agency via fax or e-mail
Depend on Swanson’s to provide the industry with
real solutions to real problems. AutoCollect is a solution
that will assist facilities now and into the future. Collection
of upaid debt opens a new revenue stream to assist in off-setting
facilities’ administrative costs, thus leaving more
money for other activities and programs.
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