In the financial technology sector, there are many services that individual companies, known as fintechs, can specialize in. For one such fintech, their focus was powering money for people and businesses through electronic funds transfer and international money transfers. As the company grew, so did the challenges associated with managing past due accounts—a crucial aspect of maintaining a healthy financial operation.
By relying solely on its internal team to manage debt collections by manually sending emails and making outbound calls, the fintech faced significant challenges as it grew with scalability and performance, especially for later stage delinquencies.
To effectively manage increasing volumes of accounts, the fintech recognized they would need to expand their efforts and broaden their reach—but traditional ways of adding more headcount proved to be an impractical solution given the associated costs and time required to onboard new employees.
But a better solution was just a partnership away with TrueAccord.
This partnership meant the fintech could skip the strain of adding more dedicated team members or building in-house programs and instead leverage TrueAccord’s advanced digital and self-serve collections platform. This solution not only improved liquidation performance but also significantly increased collection recoveries on a month-over-month basis.
By optimizing the fintech’s late-stage debt collection operations, TrueAccord quickly delivered impressive results: the fintech was able to collect nearly $500,000 within the nine months of partnership in 2024.
Get the full coverage of TrueAccord’s solution and the fintech’s impressive results by downloading the free in-depth case study here»»