The intelligent, client-branded product for delinquent accounts uses a patented, machine learning-driven decision engine to engage customers and boost recovery rates
Lenexa, KS – Sept. 16, 2021 – 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.
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.