AKUVO Enhances Collections Platform with Virtual Collector

Self-curing add-on becomes standard feature

AKUVO is thrilled to announce a significant enhancement to its Collections Platform. Effective immediately, Virtual Collector will be included in the platform’s inclusive pricing, without any additional subscription or implementation fees.

“Those financial institutions that are using a third-party self-service collections provider are often doing so alongside their primary collections platform, requiring them to import and export accounts and data.” said Mark Price, AKUVO Chief Product Officer. “Virtual Collector is seamlessly integrated into the AKUVO Collections Platform, where communications, follow-ups, and activity can all be tracked and managed in real-time. This provides an unprecedented view of behavior, effectiveness and results, all organized within a single, cohesive system.”

The move is a testament to AKUVO’s commitment to delivering value and innovation to its customers, Price added.

Key Features of the New Pricing Structure

· Easy Access: Effective immediately, all AKUVO Collections Platform customers now have automatic access to Virtual Collector as part of their existing subscription.

· Zero Upfront Costs: Virtual Collector is available with no additional subscription or implementation fees, allowing customers to start using the tool immediately without any financial barriers.

· Pay-as-You-Go: Customers only pay a few cents per communication, ensuring cost-effective usage of the Virtual Collector tool while managing expenses efficiently.

Virtual Collector empowers account holders by offering a self-service portal where they can make payments, communicate promises, and request callbacks—all through an intuitive and user-friendly interface. This application is designed to reduce the need for manual intervention, thus improving overall operational efficiency and increasing the rate of cured accounts.

With a focus on efficiency, the AKUVO Collections Platform simplifies data management while also providing deeper insights into borrower responses and payment behaviors. Features like future reminders, scheduled follow-up calls, and prioritized queues help lenders enhance their self-service campaigns and measure success more effectively. This holistic approach to combining traditional and digital collections tools sets a new standard in the collections’ community.