ST. PETERSBURG, Fla.–Triverity, a unit of Velera, said it is entering into a partnership with partnered with AKUVO, which provides collections and credit risk solutions.
According to the company, the integration will facilitate a seamless process for third-party charge-off collections through AKUVO’s cloud-based collections platform to help maximize credit unions’ recoveries from non-performing loans.
“We are thrilled to incorporate AKUVO's cloud-based capabilities into our comprehensive delinquency management suite through this partnership,” TriVerity SVP-Client Service and Marketing Wendy Elieff said in a statement. “This relationship will bolster TriVerity’s ability to efficiently recover charged-off accounts while providing credit unions with a single-source delinquency management solution that elevates the member experience.”
‘Data-Driven Approach’
Velera said AKUVO employs a data-driven and behavior-based approach to credit risk and delinquency management.
“The addition of AKUVO’s platform, leveraging automation and analytics, will enhance TriVerity’s offerings by providing advanced guidance and improving workflow through continuous connections with core processors, credit bureaus, payment providers, text messaging services, legal resources and more,: the company said.
‘Seamless Process’
Added AKUVO SVP-Relationships Mike Ruggiero, “We are pleased to partner with TriVerity to provide a seamless process for third-party charge-off collections, ultimately strengthening collectability and revenue benefits for credit unions. Through this partnership, the integration of AKUVO’s efficiency-focused collections platform will generate operational insights and support TriVerity in optimizing charge-off strategies.”
The company said that for more than three decades TriVerity has been recognized as the industry’s leading expert for third-party collections of all loan types.
“The organization is known for building partnerships that result in reduced delinquency, prioritizing service excellence and guiding borrowers in the resolution of delinquencies,” it added.
Additional Offerings
In addition to its third-party offerings, TriVerity said that in partnership with Velera it provides first-party collection staffing solutions for financial institution collection departments to minimize losses on their delinquent active loan portfolio.
“TriVerity’s comprehensive delinquency management suite of services, payment portal and client support work together to minimize losses from unpaid loans,” it added.
For info: www.TriVerity.com.