Retain is designed to help lenders and other businesses resolve financial issues.
FREMONT, CA: TrueAccord Corporation introduces Retain, a new client-branded product that helps lenders and other businesses with past-due delinquent accounts overcome early-stage collection issues. Retain uses engagement data from individual encounters to optimize the consumer experience while maximizing recovery for clients, using the company's unique, machine learning-based, and self-optimizing decision engine. Clients can use the client-branded product to boost collections, maintain customer connections, and provide financial wellness solutions to their customers.
Retain's key benefits include a simple, intuitive, and ultra-smooth digital platform that leads to a great user experience, constant A/B testing, and optimization to reduce friction and boost conversion rate, infinite scalability, and second-to-none channel deliverability, all powered by TrueAccords' industry-leading tech stack. For early-stage use, Retain utilizes ecommerce-based technologies such as a focus on digital experience and outreach, machine learning-based personalization, and enormous scale deliverability.
“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.
With personalized communications, scheduling, and channels, as well as a self-serve payment platform that empowers consumers to manage their accounts simply, Retain promotes client involvement and preference, which is crucial to preserving the lender-borrower relationship. Retain engages consumers more effectively and efficiently with a digital-first approach and can decrease costs by transforming call centres into productive inbound operations, as opposed to typical call-to-collect early-stage collections, which require greater outbound call centre volumes.
"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, TrueAccords 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. "
