Sila Provides Clients with Digital Debt Collection Services via Partnership with Fintech TrueAccord

Sila Inc., a Fintech software platform that offers payment infrastructure as a service, announced that it teamed up with TrueAccord, the debt collection firm offering intelligent, digital-first collection and recovery solutions, “to make it easier for Sila’s customers to use TrueAccord’s products and services.”

Having to constantly deal with delinquent and defaulted accounts is a vital element that Fintechs need to have in place “as part of their overall management of funds.” Using a patented machine learning engine and engagement data from millions of customers, TrueAccord delivers “a personalized, self-serve experience that drives consumer engagement and industry-leading results.” Meeting consumer preference for digital-first services, TrueAccord uses a range of channels “including email, SMS, voicemail drop, and more to cut through the noise and empower customer self-service and inbound communication.”

Since its launch, Sila has been focused on offering API solutions. Sila has also been steadily growing its partner network “to augment its offering by anticipating additional functionality that Sila customers will need to successfully build their businesses.” With the addition of TrueAccord, Sila is on path “to have agreements with over 40 specialist service providers signed by the end of this quarter.”

Shamir Karkal, CEO and co-founder, Sila Inc., remarked:

“Sila is proud to welcome TrueAccord as a partner. We know that our customers will benefit from this key addition to our partner network and from a closer relationship between our two organizations. Like many of our fintech customers, TrueAccord was founded by an individual who had a sub-optimal experience with a traditional financial institution and decided to do something about it. That’s a mindset that is very close to our own because we started Sila around the idea to provide payment services that allow entrepreneurs to build the new financial world they have in mind.”

Mark Ravanesi, CEO of TrueAccord Corp., noted:

“We have worked with more than 16 million consumers on their journey to pay off their debts, and we use that data and feedback to understand how and when to best engage consumers to facilitate repayment. By allowing consumers to create flexible payment plans, and by offering modern, digital-first communication channels, we are changing the landscape of debt collection from hostile and harassing to empathetic and helpful. We are looking forward to bringing to bear our significant expertise for the benefit of Sila’s customers and consumers.”

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