MessagePay announced its integration into AKUVO’s Virtual Collector, a key component of the company’s collections platform.
AKUVO’s Virtual Collector is designed to empower borrowers to manage their delinquent accounts in a self-service manner, “reducing the need for direct interaction with collection agents.”
The integration of MessagePay will allow mutual customers to “provide borrowers with payment options.”
Borrowers will be able to perform self service payments from Virtual Collector with ease with payment information tracked “directly within AKUVO’s collections platform.”
Greg Pesci, President and CEO, MessagePay said:
“Embedding our payment technology directly within AKUVO’s Virtual Collector streamlines the entire payment process, making it more user-friendly for individuals seeking to quickly resolve their financial obligations. This is a game-changer in how we envision collections should work, promoting faster resolutions and improved customer satisfaction.”
Mike Ruggiero, SVP of Partnerships at AKUVO said:
“The addition of MessagePay within our Virtual Collector will not only streamline the payment process for consumers but also provide financial institutions with visibility into the entire process. This advancement empowers consumers to manage past due commitments seamlessly, while making financial institutions more efficient in the process.”
As noted in the update, MessagePay is a key player focused on payment solutions, focusing on creating “frictionless financial transactions for businesses and consumers.”
With a focus on integration, MessagePay now enhances the collections process with its secure, versatile, and user-friendly payment options.
As mentioned in the announcement, AKUVO is a provider of cloud-native collections software solutions that elevate “how banks, credit unions, and fintechs collect and manage their portfolios via its products.”
Whether it is through their stand-alone virtual collector, or its next-generation collections platform, AKUVO provides the technology and data necessary to increase collections efficiency, provide “a digital consumer experience, reduce staff costs, anticipate delinquencies, and provide insight into future credit decisions.”
AKUVO delivers a digital future for collections and account performance management with a “behavior-based approach” while taking advantage of emerging technologies such as AI, natural language processing, and machine learning.