Demand For Digital Debt Recovery System Drives Strong Growth Since Launch
TrueAccord Experiences 280% Growth Surge
SAN FRANCISCO, March 3, 2015 /PRNewswire/ -- TrueAccord (www.trueaccord.com), the data driven debt recovery platform, announced today that the company is experiencing exponential growth due to the emerging trend and demand for automated digital collections. The company is experiencing a 29 percent month-over-month growth trajectory and has increased by 280 percent since July 2014.
Photo - http://photos.prnewswire.com/prnh/20150302/178986-INFO
In just six months, TrueAccord has increased its amount of debt under management to $45M and is now working with over 60 major companies that include online leaders in food, finance, commerce, travel and leisure. Additionally, the company collects from over 40,000 of those in debt.
"Consumer preference is strongly shifting towards digital channels and there is a huge demand for innovation in the debt recovery industry," said Ohad Samet, co-founder and chief executive officer, TrueAccord. "Our digital debt recovery platform is pioneering a new wave of debt recovery in a more sophisticated, data driven and results-oriented approach."
This accelerated growth underscores TrueAccord's innovative technology platform that is fundamentally transforming a broken debt collection industry, one that has relied on coercion and other antiquated tactics for the last 80 years. TrueAccord uses a combination of data intelligence, machine learning, and behavioral psychology to help companies of all sizes recover outstanding payments. Based on data from TrueAccord's latest infographic, where it sampled from tens of thousands of its digital communications sent out each month found that an automated solution greatly increases recovery rates by 80 percent when compared to traditional methods.
Digital collections have proven its ability to reach those who have historically been a challenge to contact, therefore increasing recovery rates. Offering automated payment technologies empowers those in debt with a simple way to pay, negotiate and reduce the embarrassment factor, all in a more private environment.
TrueAccord is co-founded by a group of Silicon Valley tech veterans from Google and PayPal.
For more information and to view TrueAccord's infographic on the new frontier in financial services digitation, please visit http://go.trueaccord.com/digitizationinfographic.
About TrueAccord
Created in 2013 by Silicon Valley tech veterans, TrueAccord is an automated debt recovery platform that bridges the gap between the creditor and those in debt. TrueAccord works with small and large businesses to recover the billions of dollars in lost revenue and works with those in debt to create flexible payments solutions.
TrueAccord has developed a fully automated system that uses behavioral analytics, machine learning and a humanistic approach to help transform the historical antiquated debt recovery industry.
For more information, please visit: www.TrueAccord.com. Follow TrueAccord on Twitter @trueaccord
Media Contacts:
Jackie Enterline / Tracy Rubin
JCUTLER media group
[email protected] / [email protected]
SOURCE TrueAccord
Share this article