Sila offers customers Digital Debt Collection services

By Edlyn Cardoza

Sila Inc., a FinTech software platform that provides payment infrastructure as a service, recently announced that it partnered with TrueAccord, the leading debt collection company offering intelligent, digital-first collection and recovery solutions, to make it easier for Sila’s customers to use TrueAccord’s products and services. Dealing with delinquent and defaulted accounts is a key element that FinTechs need to have in place to manage funds. TrueAccord delivers a personalized, self-serve experience that drives consumer engagement and industry-leading results using a patented machine learning engine and engagement data from millions of customers. Meeting consumer preference for digital-first services, TrueAccord uses a range of channels, including email, SMS, voicemail drop, and more, to cut through the noise and empower customer self-service and inbound communication.

Since its inception, Sila has been laser-focused on providing industry-leading API solutions. Sila has been steadily growing its partner network to augment its offering by anticipating additional functionality that Sila customers will need to build their businesses successfully. With the recent addition of TrueAccord, Sila is on the path to having agreements with over 40 specialist service providers signed by the end of this quarter.

“Sila is proud to welcome TrueAccord as a partner. We know that our customers will benefit from this key addition to our partner network and from a closer relationship between our two organizations,” said Shamir Karkal, CEO and co-founder, Sila Inc. “Like many of our fintech customers, TrueAccord was founded by an individual who had a sub-optimal experience with a traditional financial institution and decided to do something about it. That’s a mindset that is very close to our own because we started Sila around the idea to provide payment services that allow entrepreneurs to build the new financial world they have in mind.”

“We have worked with more than 16 million consumers on their journey to pay off their debts, and we use that data and feedback to understand how and when to best engage consumers to facilitate repayment. By allowing consumers to create flexible payment plans, and by offering modern, digital-first communication channels, we are changing the landscape of debt collection from hostile and harassing to empathetic and helpful,” said Mark Ravanesi, CEO of TrueAccord Corp. “We are looking forward to bringing to bear our significant expertise for the benefit of Sila’s customers and consumers.”