SEATTLE, Wash. -- Attunely Inc. announced today that it has raised $3.7 million and is making its machine learning (ML) platform commercially available to over 4,000 third-party collection agencies, debt buyers, and collection law firms in the Accounts Receivable Management (ARM) industry. Attunely uses machine learning to help its customers fine-tune their outreach process by using real-time optimization and account scoring to improve the consumer experience, reduce ineffective outreach, and drive increased recovery rates and operating margins.
"Attunely's team brings together ARM industry veterans with enterprise-grade machine learning software innovators," said Scott Ferris, Attunely's Founder and Chief Executive Officer. “We couldn’t be more excited to be playing the long game by partnering and tailoring our software to the specific set of challenges facing the ARM industry.”
Over the last year, Attunely has partnered with several third-party agencies and debt buyers to design its supervised learning algorithms and real-time account valuation model driven by data from over 100M historical consumer interactions. The company also offers a suite of reporting and analytics tools that empower customers to monitor and continuously optimize performance in real time.
“Machine learning is a game changer for the industry - the new edge in leveraging the data we already have. Attunely has been able to streamline and optimize the priorities of consumer contact, while still complying with strict regulatory issues. We have been able to take our business to new levels of efficiency and revenue opportunity. We at Account Management Services (AMS) intend to change, grow, and thrive, thanks to our friends at Attunely,” said Rick Moss, CEO of AMS.
As a result of close collaboration with industry leaders and experienced operations managers, Attunely's product is designed to integrate seamlessly with a customer's existing IT infrastructure and workflows. To that end, the company is beginning to engage in cooperative channel partnerships with embedded technology vendors to seamlessly integrate and distribute its machine learning platform and tools.
“We have spent significant time with the Attunely team and continue to be impressed with how they are listening and adapting their software to meet our exacting specifications,” said Mike Frost, Chief Compliance, Sales Officer and General Counsel of CBE Companies. “As we evolve our optimization patterns, we expect to see increased propensity to pay results, reduced compliance infractions, and in the end deliver improved results to our clients.”
Steven Fuernstahl, President of Stoneleigh Recovery Associates, says “Attunely’s machine learning insights have significantly improved our collections operations and allowed us to recover more revenue for our clients through a more personalized consumer engagement.”
The company has also managed to engage an impressive list of long-standing industry experts who have helped to shape the product offering, including the appointment of Steven Wilansky as Attunely’s Chief Legal & Compliance Officer and Jack Lavin, Chairman Emeritus of Arrow Financial Services and Chairman of Javlin Capital, as a Board Director of Attunely Inc.
“Attunely and its clients are well positioned to improve the ecosystem and cycle even more credit back into the U.S. economy each year by mitigating risks associated with extending credit to subprime borrowers," said Lavin. Attunely is announcing today the commercial availability of its platform at the annual Receivables Management Association (RMA) conference in Las Vegas.
Attunely is a cloud-based, optimization platform for the Accounts Receivable Management industry that uses machine learning to increase efficiency in the collection process, thus improving outcomes for creditors, lowering risk in the credit ecosystem, and expanding access for subprime borrowers.
For more information, visit http://www.attunely.com.