Results 1 to 6 of 6
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10-04-2016, 03:07 PM #1
- Join Date
- Jan 2015
- Location
- Laguna Beach
- Posts
- 463
Suspicious Knight Capital policy...
They will no longer email you a list of your files (and payoff progress) with them. You have to ask specifically for each file by name. Forget about your files and my guess is you'll never see them again.
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10-04-2016, 03:27 PM #2
- Join Date
- Sep 2014
- Posts
- 430
It sounds more like they are sick of keeping track of your (and everyone else's) book with them and are, rightfully, putting that burden back on the broker/ISO where it belongs. I'm guessing there were some partners of theirs that were abusing the system.
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10-04-2016, 03:32 PM #3
- Join Date
- Nov 2013
- Posts
- 598
I disagree to some extent here, ISO don't have access to the lenders' ACH platform so we can only estimate what the balance is assuming perfect payment history. In addition, being transparent is a reciprocal trade, if ISOS are required to be transparent then so should the funder.
An ISO should be invested in the performance of every referral,the funder should involve the ISO's more. Now, I also don't think the ISO should have full control either but a friendly reminder of renewal dates and a courtesy phone call to the merchant that ISO is made aware of is great for growing relationships.
Just my 2 cents....
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10-04-2016, 05:04 PM #4
A decent sized ISO should have a dedicated renewal rep. If not, sales reps can use a calendar. How hard is this in 2016? I'll be damned if I'm going to leave my renewals up to anyone outside of my organization.
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10-04-2016, 10:00 PM #5
- Join Date
- Jan 2015
- Location
- Laguna Beach
- Posts
- 463
We track ours. Just seemed odd to be told "no" when I asked for a portfolio update.
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10-05-2016, 11:44 AM #6
- Join Date
- Aug 2016
- Posts
- 831
This is what you call lazy.They got rid of some employees and do not have the time. I would not call that suspicious
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