MALVERN, Penn.— AKUVO, a provider of collections and credit risk solutions, is reporting it signed 17 new financial institutions to the AKUVO Platform during the first quarter of 2024.
The FIs represent more than $25 billion in assets and serve nearly two-million consumers, according to AKUVO.
“Many financial institutions said they are converting to the AKUVO Platform to leverage the solution’s playbooks, which can automate processes and procedures, even those handled by third parties. AKUVO playbooks can also provide collectors with required and/or recommended next steps, in real time, based on borrower behavior,” the company said. “Other customers said they chose AKUVO for the solution’s third-party connectivity and ability to process specialty functions like bankruptcy and repossessions. Many financial institutions indicated they will also implement AKUVO’s new Virtual Collector, which allows borrowers to digitally self-cure delinquent accounts. Some also signed up for AKUVO’s Managed Experience service, which allows customers to further leverage the organization’s staffing and resources.”
The New Clients
Among those converting to AKUVO platform are:
- Alabama Credit Union, Tuscaloosa, Ala.
- EFCU Financial, Baton Rouge, La.
- ELGA Credit Union, Grand Blanc, Mich.
- Farmers Insurance FCU, Burbank, Calif.
- Infuze Credit Union, Fort Leonard Wood, Mo.
- RiverLand FCU, New Orleans
- Tampa Bay FCU, Tampa, Fla.
- WEOKIE FCU, Oklahoma City,
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