See 30% average increase in recovery rates in the first two weeks
Be up and running in weeks. Get results immediately.
Integrate data from any system faster, gaining insights, and maintaining compliance.
Unlock collections & recovery data across the enterprise.
Extend digital capabilities into every stage of the debt journey to accelerate recovery and optimise allocation of your collection organisation's resources.
Be as creative as you want. Easily create any and every scenario. No IT needed. Build debt collection strategies tailored for credit segments and channels. Test continually to optimise outcomes, even in late-stage cases.Read more
Get Paid Faster
Offer any payment option. Tailor messages & choices to any segment. Test quickly. Make adjustments easily to maximise credit recovery and minimise NPLs.Read more
Automate & Optimise
Complexity made simple. Free up 50%+ of your data analysts' time to focus on higher-value activities. Make agile decisions by applying machine learning and optimising scenario performance.Read more
Our platform is your success story
Reduce Collection & Recovery Costs
By digitising every process, at every stage you drive down the cost of collections
Increase Recovery Rates
Offering digital payment methods and optimising customer experience together guarantee a frictionless customer journey ultimately leading to increased recovery rates
Increase Speed of Recovery
Reaching out to customers in a timely manner and addressing overdue debts via digital payment methods significantly increases the speed of recovery
Guarantee Security & Compliance
Regulations and compliance standards are baked into the code. Changes in regulations can be easily integrated. We adhere to the highest IT-security standards
Optimising communication & providing a user-friendly experience prevent the loss of customers
Protect & control Customer Experience
Customer interaction has changed. With personalised, omni-channel outreach and self-service solutions driven by behavioural segmentation & AI, customer satisfaction is guaranteed
API Digital Integration
Trust & Security
Our Platform ensures the highest reliability, security, compliance and privacy standards. Let us do the work of continuously updating for the complex regulatory requirements.
We work with innovative companies who embrace change to drive growth.
Frequently Asked Questions
What is a white-label debt collection software?
White-label is a product or service built by one company and rebranded by another. It is used or sold by another company using their own brand and logo.
White-label debt collection software or white-label accounts receivable software helps businesses streamline their collection workflows and content development, automate their collection processes and optimise their return on investment (ROI). Businesses can put their brand and logo on the white-label debt collection software to present a unified look and feel to their end customers.
White-label debt collection software is not limited to financial institutions. Any organisation with collection or billing processes can leverage the power of collection software. Utilities, cash apps, insurance companies, debt collection agencies, telecommunication providers, and more can all benefit from implementing fully integrated, online collection solutions.
What is an all-in-one collections platform?
An all-in-one platform offers integrated collection functionality for organisations to easily engage, collect, evaluate and analyse customers’ debt at all stages, on one platform. With an all-in-one collections platform, collections teams do not need to jump between several separate platforms to find information.
At receeve, we combine case management, AI optimisation, strategy builders, content builders and collections analytics and more within one platform for both the management team and agents to view the current segmentation performance, dunning strategies and messaging outreach prioritisation.
How does self-service functionality work in collections?
Self-service functionality allows users to find and apply solutions on their own using an online platform or other channels.
With the self-service feature in debt collection, customers with delinquent balances have the control to repay their outstanding debts online, to create an instalment plan over time, schedule a promise-to-pay plan or transfer to an agent for assistance.
Agents are not required unless requested, thus allowing collections organisations to redeploy agent resources where most needed. Agents will have more time to focus on customers requiring assistance or engaging customers with high at-risk balances.
How to evaluate your current collections software?
1. Is it cloud-native?
Companies commonly referred to as “born in the cloud” pioneered the cloud-native approach to building and running software - Netflix and Airbnb are examples.
The cloud-native approach has been adopted by companies looking for digital agility and a disruptive competitive advantage. Cloud-native applications use microservices architecture and many modern software development techniques including containers, CI/CD, agile methodologies, and devops.
2. Is it an all-in-one platform?
Information is key for optimising your collection-and-recovery process. An all-in-one platform saves you valuable time previously spent collecting from siloed data sources across different platforms or software. By consolidating and harmonising data in one 360 degree view, you maintain compliance with regulations and improve agent effectiveness.
An all-in-one platform with a 360 degree view lets you build & dynamically optimise your collections strategy and maximise agency efficiency at every stage of the collection-and recovery process. One unified platform for all use cases.
3. Is self-service a choice?
Self-service allows debtors to manage their accounts without relying on collection agents to resolve their debt issues. Self-curing functionality provides debtors with psychological control in dealing with a sensitive situation around their debts.
Collections agents can also save valuable time spent making outbound calls to customers who would rather use alternative payment methods to resolve their own claims.
4. Does it use future-proofed omnichannel communications?
Classic debt collection strategy is through repeated direct mail and outbound calls to customers.
Future-proofed collection software needs to leverage omnichannel communications (such as email, SMS, social channels) to reach younger generations. Channels and timing must be optimised for each segment to optimise engagement and recovery.
What are the applications of Artificial Intelligence in optimising collections & recovery?
Most collections & recovery challenges faced by organisations can be summed up in terms of optimisation. Companies seek to maximise actions driving recovery and minimise actions causing resource waste and agent churn.
Achieving these objectives with dynamic constraints imposed on their operation is a constant challenge and is essential to competing in today’s data driven era.
The goal of solving an optimisation problem is to find the optimal solution out of all possible solutions. For example, receeve’s AI Optimisation Step helps the client to optimise their engagement and recovery. It tracks success metrics such as content delivery, open rates, Landing Page visits & behaviour and payment rates. Based on these metrics, the algorithm optimises which content or channel to use by reinforcing success.
You can optimise for variables as granular as the design of templates, subject lines, language tone and resolution options.
What does it mean to sell debt?
To sell debt means to start a debt sale procedure. Such procedures are usually carried out by organisations and sold to a third party - usually a debt collection agency (DCA) who is the “debt purchaser”.
Accounts are sold outright to a third party with the sales price generally based on a small percentage of the outstanding balances and the third party retains 100% of the collected amount.
Debt sales are generally arranged through an individual bulk sale or contractual forward-flow agreements. Debt sales require increased due diligence and enhanced controls to limit the bank’s reputation and legal risks.
Advantages of debt sale:
- Increase cash flow and clear capital problem
- Reduce of administrative issues by selling the problematic accounts
- Drastically increase of liquidation rate on bad debts
Why are non-performing loans (NPLs) an issue for banks?
A non-performing loan (NPL) is a loan in which the borrower is in default due to the fact that they have not made the scheduled payments for a specified period. The specified period also varies, depending on the industry and the type of loan. Generally, however, the period is 90 days or 180 days.
The economic crisis caused by Covid-19 is likely to trigger a sharp increase in non-performing loans in most regions - reaching levels as high as €1.4 trillion by the end of 2022 in Europe alone.
- NPLs tie up bank capital without providing return
- NPLs reduce bank profitability and threaten business models
- NPLs erode a bank's liquidity