CARMEL, Ind. — PAR North America (div. KAR) has launched Platinum Compliance, a web-based self-service portal promising real-time access to PAR’s compliance data and the compliance data of more than 600 vehicle recovery vendors across the U.S.
PAR is a provider of vehicle transition services with solutions for recovery management, skip tracing, remarketing and title services. Executives said Platinum Compliance offers the vehicle recovery industry’s newest, most extensive compliance, due diligence, and transparency tool in one easy-to-use dashboard.
“Our customers are facing increased scrutiny and heightened regulatory requirements,” said Lisa Scott, the company’s president. “Platinum Compliance gives our customers the peace of mind that only qualified, experienced, and trained recovery vendors are working their assignments. Never has our industry had a more comprehensive real-time database of due diligence and compliance documentation — including current state-level recovery vendor requirements across all 50 states.”
Through the Platinum Compliance portal, customers can access due diligence and supporting compliance documentation for all recovery vendors. The comprehensive real-time database includes state-level recovery vendor requirements, and all PAR and vendor due diligence including insurance certificates, relevant licensing, operational and enterprise policies. Streamlining what was once an onerous process for collecting, reviewing and storing information, audits are now faster and more efficient, all according to the announcement.