Online Lender Achieves Better Collections and Consumer Experience Across Borrower Lifecycle with TrueAccord
TrueAccord proved more effective for one online lender’s late-stage collections and overall empathetic approach to financial services.
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For one online lender, providing online personal loans to underserved consumers was a core service for their business and company mission, but their collection strategy was lacking in both effectiveness and empathy. Through a champion-challenger test, TrueAccord enhanced and improved the lender’s debt recovery efforts while also reinforcing the lender’s values to deliver empathy even after delinquency—no small feat in the traditional debt collection industry.
In this case study, we’ll look at:
- The champion-challenger test set-up between TrueAccord vs another digital collections provider
- How TrueAccord’s differentiators helped the lender achieve better results compared to the other collections agency
- Ways TrueAccord’s machine learning engine enables a more empathetic approach to consumer engagement
