In episode 368 Matthew Wratten, the CEO and founder of EverChain, discusses bringing technology to the debt buying and selling process and why this is good for the industry.
TrueAccord offers software which enables banks to negotiate debt payments with distressed borrowers; they are now launching a direct to...
Indonesia’s p2p lending market has had a number of issues including very high interest rates, fraud, aggressive debt collection and...
The CFPB handles more than 84 thousand debt collection complaints in 2017; consumers also downloaded advice on settlement negotiations more than 800 thousand times; "From now on we will be working closely with the FTC to enforce the FDCPA while protecting the legal rights of all in a manner that is efficient, effective, and accountable,” acting Director Mulvaney said in a press release reported by American Banker; the CFPB and FTC filed more than 14 enforcement cases as a result of collections last year. Source.
TrueAccord provides a data-driven debt collection platform; the company uses machine learning to communicate with consumers using the right channel at the right time; Ohad Samet, Chief Executive Officer stated, “It was the personal experience of dealing with a debt collector that made me realize the traditional collections industry was ripe for disruption with technology innovation and a more human approach. With changing consumer preferences, strong regulatory support for innovation, and clients who understand a customer-focused collection process is good for their business, we're experiencing tremendous demand from the market. We are seizing this opportunity to use machine learning to humanize debt collection for good.”; The round was led by Arbor Ventures Fund. Source
When China’s Aggressive Debt Collectors Come Knocking: ‘You Committed a Sin’ After being acquired by SoFi, Galileo’s Clay Wilkes looks...
‘We want to figure out what they’re doing differently’: Why KeyBank acquired millennial lender Laurel Road House of Gigs to...
For most people the debt collections experience is big burden and not something they want to discuss; TrueAccord is helping...
The CEO and Co-Founder of TrueAccord discusses why a new data driven approach to debt collection is far more effective than traditional methods. Source
Collectly has created an online debt collection platform that utilizes machine learning technology to track and learn about debtors through each interaction; the platform's technology connects with its clients to provide greater transparency on delinquent debt; the company also seeks to provide structured repayment terms for debtors through personalized communication. Source