Eltropy snaps up Lexop to modernise loan repayment & collections

By Gloria Mathias

Eltropy, an AI-powered unified conversations platform for community financial institutions (CFIs) in North America, has acquired Lexop, a collections technology provider.

This move aligns with three critical trends reshaping financial services: digital wallets (like Apple Pay), artificial intelligence (AI), and self-serve or self-cure payment experiences. By combining Lexop’s innovative technology with Eltropy’s AI-powered communications platform, the partnership will modernise debt repayment and collections, helping CFIs reduce and prevent delinquencies and collect faster while enhancing borrower experiences.

“The world needs a better way for people to pay their debt obligations. Today’s phone-call-driven experiences are extremely inconvenient for the borrower, making it difficult for CFIs to collect debt payments on time,” said Ashish Garg, CEO and co-founder of Eltropy. “By combining Lexop’s people-first collections technology with our AI-driven communications platform, we’re delivering an offering that increases effectiveness with empathy.”

“We built Lexop to create a better past-due member experience,” said Amir Tajkarimi, CEO and co-founder of Lexop. “By joining Eltropy, we are reinventing loan repayment and collections, helping credit unions and community banks improve recovery rates while preserving relationships with their members. We have been watching Eltropy take the CFI world by storm and could not be more excited to join hands.”

With Lexop, Eltropy now has a self-serve solution that prevents avoidable delinquency by making it extremely easy to make payments with two clicks on their phone before the due date because prevention is better than cure. 

The combination of Lexop’s member-focused collections technology and Eltropy’s AI-powered platform addresses these challenges head-on, transforming debt repayment into a proactive, seamless process. By integrating Lexop’s self-cure solutions, Eltropy offers a comprehensive member servicing platform in the market—one that marries empathy, efficiency, and recovery.

This is Eltropy’s third acquisition, following its acquisitions of POPi/o and Marsview in 2022. With POPi/o came video banking, enabling credit unions and community banks to connect face-to-face with members remotely and streamline branch services. Marsview strengthened Eltropy’s AI and conversation intelligence capabilities while providing advanced AI tools for automating member and customer engagement. Together, these acquisitions have allowed Eltropy to build a robust, all-in-one Unified Platform that serves the needs of community financial institutions throughout.