LENAXA,
Kan — TrueAccord Corporation, which offers
intelligent digital recovery and communication products and services,
today launched Retain, a new, client-branded product that addresses early-stage
collection challenges for lenders and other organizations with customers with
past-due delinquent accounts. Using the company’s patented, machine
learning-based and self-optimizing decision engine, Retain uses engagement data
from individual interactions to optimize the consumer experience while
increasing recovery for clients. The client-branded product enables clients to
improve collections, maintain customer relationships, and offer solutions to
their customers that improve financial fitness.
Powered
by TrueAccord’s industry-leading tech stack, key benefits of Retain include a
simple, intuitive and effortless-to-use digital platform leading to great user
experience, constant A/B testing and optimization to reduce friction and boost
conversion rate, infinite scalability, and second-to-none channel
deliverability. Retain implements ecommerce-based innovations like the focus on
digital experience and outreach, machine learning-based personalization, and
deliverability at massive scale for early-stage use.
“After seeing success with our late-stage collection
solution, Recover, we identified an opportunity to apply the same customer-centric
approach to early-stage collections. Our data and machine learning-driven
engine proved unmatched for late-stage recoveries. Clients asked us to expand
our product suite to address early-stage delinquency while keeping their
customers in their brand ecosystem, and we were happy to oblige,” said Mark
Ravanesi, CEO of TrueAccord Corp.
Retain prioritizes
customer engagement and preference, which is critical to preserve the lender-borrower relationship, with custom
communications, timing and channels and a self-serve payment platform that
empowers customers to easily manage their accounts. Unlike traditional
call-to-collect early-stage collections, which require increased outbound call
center volumes, Retain engages users more effectively and efficiently with a
digital-first approach and can reduce costs by transforming call centers into
productive inbound operations.
“Retain
takes all the innovative customer engagement processes we’ve built and adds a
brand-focused retention toolkit for our clients to easily plug and play to
engage with their delinquent customers,” added Ohad Samet, co-founder and CEO
of One True Holding Company, TrueAccord’s parent company. “Retain adds to our
product and service offerings designed to improve the experience for consumers
in debt and actually help them find a path toward a better financial future.
For more product information or to
request a demo, please visit the product page at www.trueaccord.com.
About
TrueAccord
TrueAccord is the intelligent, digital-first collection and
recovery company that leaders across industries trust to drive breakthrough
results while delivering a superior consumer experience. TrueAccord pioneered
the industry’s only adaptive intelligence: a patented machine learning engine,
powered by engagement data from over 16 million consumer journeys, that
dynamically personalizes every facet of the consumer experience – from channel
to message to plan type and more – in real-time. Combined with code-based
compliance and a self-serve digital experience, TrueAccord delivers liquidation
and recovery rates 50-80% higher than industry benchmarks. The TrueAccord
product suite includes Retain, an early-stage collection solution, and Recover,
a full-service post-charge off recovery platform.
About One True Holding Company
One True Holding Company is a technology company providing
business- and consumer-facing solutions in the consumer debt space.
Subsidiaries include TrueAccord, which offers machine learning-based, digital-
and mobile-first servicing for debt in collections and recoveries, and True
Life Solutions, which offers a SaaS platform that consumers can use to contact
collectors and creditors digitally.
