ID Finance teams up with receeve to build future-ready approaches to collections and recovery in a post-Covid world
receeve’s ML/AI tools automate customer engagement with an average 30%+ increase in debt collection in the first 30 days past due (DPD)
Barcelona. July 21, 2021.
ID Finance (IDF), the leading European financial technology company, has partnered with receeve, Europe’s leading no-code collections platform, to unify its technology stack for collections and recovery. IDF, which has reached €100m+ revenue and 3.8 million registered users in 2020 in Spain and Latin America, will now integrate receeve’s all-in-one collections platform including case management (CRM tool for collections teams) and ML/AI tools to automate customer engagement with the right content, in the right way, at the right time.
This technology means an average 30%+ increase in debt resolution in the first 30 days past due (DPD), helping both customers with outstanding claims get back to financial wellness and providing IDF tools to improve the customer experience and the overall performance of the company.
Headquartered in Barcelona, ID Finance issues debit cards in Europe under the Plazo brand and operates an automated consumer lending platform which leverages open banking data. Thanks to this alliance with receeve, the German cloud-native startup with an AI-driven approach that drives efficiency and provides an end-to-end solution for the entire collections & recovery ecosystem, IDF will eliminate data silos freeing up collections data for use as an asset for optimizing recovery at every stage and to inform lending decision models.
Marco Silva, Chief Operating Officer (COO) at ID Finance, commented that “we are thrilled to integrate receeve’s end-to-end solution. We can leverage our existing technology investments and at the same time quickly improve our operations during these unpredictable times. The data we can now access helps us better service our customers, empower our employees and optimize the use of collections insights across IDF to help keep our customers on track and help them get back to financial wellness when needed”.
The result is a dynamic AI-enabled model that prevents avoidable losses across the end-to-end credit lifecycle. At the same time, receeve puts extensive focus on creating the best experience for customers. Thanks to their data and machine learning, optimizing channels and communication, including agent resources where models predicting human assistance will be most effective.
Paul Jozefak, Co-founder and CEO of receeve, added that “we are proud to win IDF, one of the fastest growing FinTechs in Europe, as our first Spanish client. We recently entered the market in parallel to our investment from Seaya Ventures. By continually adding and improving the customer data from service, to collections and agency assignment, we provide scored, compliant portfolios which are easy to price and review for sale if necessary. This, according to annual report by the Bank of Spain, is key since they ‘don’t rule out the possibility of greater credit default risk materializing in the medium term’.”
To address the uncertain COVID environment, IDF’s partnership with receeve offers the in-house collections teams a technology-first approach to manage and solve overdue claims and help their finance team manage entire collections activity from an early stage.
Other mentions (in Spanish)
21 July 2021
europapress
ID Finance se alía con receeve para construir el futuro del cobro y recuperación de deudas post Covid
21 July 2021
Periodista Digital
ID Finance se alía con receeve para construir el futuro del cobro y recuperación de deudas post Covid
21 July 2021
El Confidencial Digital
ID Finance se alía con receeve para construir el futuro del cobro y recuperación de deudas post Covid
21 July 2021
Merca2
ID Finance se alía con receeve para construir el futuro del cobro y recuperación de deudas post Covid
21 July 2021
Bolsamanía
ID Finance se alía con receeve para construir el futuro del cobro y recuperación de deudas post Covid
21 July 2021
Noticias de Emprendedores
ID Finance se alía con receeve para construir el futuro del cobro y recuperación de deudas post Covid
21 July 2021
Profesionales Hoy
ID Finance se alía con receeve para construir el futuro del cobro y recuperación de deudas post Covid
20 July 2021
Cointelegraph
ID Finance se alía con Receeve para unificar tecnología de cobro y recuperación de deuda
20 July 2021
Investing
ID Finance se alía con Receeve para unificar tecnología de cobro y recuperación de deuda
20 July 2021
Verbolsa
ID Finance se alía con Receeve para unificar tecnología de cobro y recuperación de deuda
More information
ID Finance
Bambú PR
Ricardo Malumbres
ricardo@bambupr.com
+34 93 592 97 25
receeve
Álvaro Troyanotroyano
alvaro@gmail.com
+34 628 500 944
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About ID Finance
We are a leading fintech in Europe and Latin America. Using state-of-the-art technology, data science and credit scoring, we are transforming consumer digital finance in these markets. We have been recognised as a ‘unicorn’ of tomorrow by investment bank GP Bullhound, identified as the second-fastest-growing fintech in Europe by the Financial Times and named in the top-50 fastest growing companies in Europe by Inc.5000. We have 1.4 million registered users in Spain, Brazil and Mexico, with c.20,000 new users added weekly. 90% of our clients become repeat customers and their lifetime value is 4x higher than the acquisition cost.
Machine learning and artificial intelligence are at the core of our business, from optimising marketing campaigns to improving customer service experience. Our headquarters is located in Barcelona, Spain, with further offices in São Paulo, Brazil, Mexico City, Mexico, and an engineering office in Minsk, Belarus. Our 400+ employees are at the cutting-edge of fintech innovation. Our culture is inclusive, international and above all entrepreneurial. We are constantly setting ourselves new challenges.
About receeve
receeve is a fully customizable All-in-One Platform for Collections & Recovery. We simplify the growing complexity of data and systems and empower in-house teams to easily automate processes, engage customers and apply 360° insights to maximize recovery and minimize risk across every stage of credit management - from pre-delinquency to portfolio assignment or sale.
One Platform. A perfect balance of ease-of-use and power, receeve’s cloud-native, no-code platform is fast to deploy, simple to manage and easy to customize and expand. Bring together intelligence, strategy and operations in one place.
To find out more, visit us.
