The Silicon Review
Many business owners have a picture in their mind about debt collectors – and for a good reason. In the past, anyone could set up a debt collection agency without being registered or regulated in any way. Today, there are rules and regulations that govern debt collection agencies. A debt collection agency is one of the easiest ways for you to put the focus back on your business, while someone else handles the debt collection process. Today, there’s a myriad of laws that govern the debt collection industry, and well-informed customers won’t hesitate to sue if their rights are violated. Debt collection agencies know this, which is why they are well versed in these laws. Third-party agencies are knowledgeable in both federal collection laws and the laws that govern the state in which the agency holds a license. Allowing a debt collection agency to recover unpaid debts on your behalf eliminates the legal risks involved with attempting to collect debts on your own.
TrueAccord is one such licensed, bonded, and insured collection agency in all jurisdictions. Its legal team follows developments in regulations and case law to develop policies and procedures according to their constant changes. TrueAccord uses machine learning, behavioral economics, and a humanistic approach to change the debt collection process. It ensures complete compliance control, auditability, and real-time updates for changing rules and regulations. Its digital collections process is controlled by code, ensuring that all regulatory requirements are met, while still being flexible to quickly adjust to new rules and case law. TrueAccord broadens the consumer experience by offering compliant multi-channel communications. Its data security and IT policies are built to satisfy the requirements of the most security-sensitive financial institutions.
Revolutionary debt collection services and solutions offered by TrueAccord
Customer Experience: TrueAccord understands the challenges of modern communication. Its product empowers consumers to engage with them through the channels they want, which include email, text, push notification, letters, and phone. A mobile-optimized experience is available 24/7 so consumers can engage anytime and anywhere. More than 85 percent of consumer engagements on their platform are on mobile devices, and more than 25 percent of account resolutions happen outside of business hours. Its onboarding solutions are available to get you started in record time, whether you’re a small business looking to upload a list of debts, a technology-forward user interested in APIs, or a financial institution working with complex systems of record.
Collections and Recovery Specialist: Broaden your strategy beyond outdated call and collect agencies. Step into a world of options. With TrueAccord, you can reach consumers the way they want to be contacted through multiple channels. Its dynamic placement strategies allow users to place and pull accounts according to consumer behavior; instead of how often collectors call them. The firm works with its clients to optimize and respond to macro trends and changes to debt composition. Its 3rd party collection service seamlessly complements internal process. The firm picks up from where you leave off and can contact customers in your name to make sure you get paid. The easy-to-use dashboard lets you start collections in just a few simple steps, and the brand-positive communications get you paid.
Licensing Compliance and Credit Card Processing: Diverse credit card portfolios require elaborate segmentation and placement strategies. To address your unique needs, it’s time you worked with a solution that goes beyond the call-center model. TrueAccord provides dynamically adaptive collection programs that increase penetration and recovery rates. Its system allows you to recover balances previously deemed “unrecoverable.” The adaptive engine learns from customer behavior and creates a customized collection experience for every account. It learns from consumer behavior and from historical data from similar issuers. Since more than 30 percent of chargebacks are from customers who sign up for a service and change their mind, or forget to cancel the subscription, the firm can help you re-engage with these valuable potential customers. By working with TrueAccord, you’ll maintain a brand-positive user experience during recovery and reconciliation.
Meet the pre-eminent leader
Ohad Samet serves as the Chief Executive Officer of TrueAccord. He is analytically sharp, well aware of the business environment. He engages himself in building an excellent team talented people from scratch for TrueAccord.