AKUVO, a leading technology organization specializing in collections and credit risk management, has announced the launch of its native texting functionality within the AKUVO collections platform.
No third-party contract is required. This new feature will be included as part of AKUVO’s standard subscription at no additional charge, reinforcing the company’s commitment to making text-based collections as accessible as email or traditional mail.
Financial institutions using AKUVO’s platform can send and receive texts directly from the system to support both traditional and digital collection strategies. Since the AKUVO platform hosts account holder loan data, texting can now be strategically utilized to send payment reminders, enabling the early capture of payment difficulties and the initiation of proactive and automated actions. Additionally, it efficiently facilitates interactions with account holders who are in the early stages of delinquency, allowing collectors to focus on account holders with more complex cases.
“Consumers have consistently told researchers they expect texts from financial institutions to be personalized and relevant,” said Mark Price, Chief Technology & Product Officer at AKUVO. “AKUVO’s texting functionality is designed specifically for collections, ensuring a more purpose-driven, effective and borrower-focused experience, and we are excited to bring this new functionality to our customers.”
AKUVO will continue to maintain strong relationships with industry-leading third-party texting providers, offering customers the flexibility to choose the solution that best fits their needs.