TrueAccord

What is TrueAccord?

TrueAccord is an empathetic, digital-first debt collection company founded in 2013 that aims to transform the debt recovery industry. Utilizing its patented machine learning engine called HeartBeat, the platform analyzes consumer behavior to deliver personalized, omnichannel communications via email, SMS, and other digital methods rather than relying solely on traditional phone calls. It offers a low-friction self-serve portal that empowers consumers to manage and resolve their debts at their own pace, resulting in higher engagement and satisfaction. TrueAccord serves both first-party and third-party collections for various industries, providing scalable, compliant recovery solutions that protect a brand's reputation while maximizing liquidation rates.

How to use TrueAccord?

Businesses can partner with TrueAccord to seamlessly integrate their delinquent account portfolios into TrueAccord’s platform for either early-stage re-engagement (first-party) or late-stage recovery (third-party). Consumers receiving a notice from TrueAccord can simply click the secure link provided in their email or SMS to access a flexible, self-serve digital portal where they can view their balance, choose an affordable payment plan, and resolve their debt without needing to speak to a human agent.

TrueAccord's Core Features

• Uses patented AI algorithms (HeartBeat) to determine the best time, channel, and message for each individual consumer.

• Reaches out to consumers via email, SMS, and digital channels instead of utilizing aggressive phone calls.

• Allows consumers to manage and pay off their debts independently through a low-friction digital portal without interacting with an agent.

• Automatically enforces federal and state regulatory requirements directly within the software's codebase.

• Adapts to account delinquency stages from early first-party re-engagement to third-party collections.

• Logs all collection events instantly to ensure total transparency and impeccable record keeping.

• Provides seamless brand extension for first-party collections to preserve the original business-consumer relationship.

TrueAccord's Use Cases

• #1

  Automating late-stage debt recovery for financial institutions.

• #2

  Providing omnichannel outreach (Email, SMS) for delinquent accounts.

• #3

  Empowering consumers to set up customizable debt repayment plans via a self-serve portal.

• #4

  Ensuring regulatory compliance across federal and state debt collection laws using code-based enforcement.

• #5

  Using machine learning to optimize the timing, channel, and messaging of collection notices.

• #6

  Early-stage delinquency re-engagement to retain customer relationships for direct lenders.