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new debt collection company applies behavioral analytics

Wednesday, September 24, 2014 - Posted by Michael McCulloch

A new debt collection company in the US, TrueAccord is approaching debt collection in a new way. 

The company employees 15 people that are experts in machine learning and behavioral engineering experts. The software that has been designed by the company scans automatically for publicly available information on a debtor, and then based on what it "learns" from this information, the software will then select the most appropriate message to get the debtor to pay.

To use this system, Creditors must supply TrueAccord with an email address.

The technology behind the software constantly learns from how each debtor treats each individual communication to enhance the behavioral profile of each debtor. The systems in place can track when an email is read and never opened again, when a debtor clicks through to the website right up to the point of payment or wherever the debtor left the website. After learning from this behavior, the system may send out a different communication method to attempt to get the account paid. The message to each debtor from the emails to the debtor clicking through to the website is customised based on what the software has learned about each individual debtor.

Underlying this technology is an approach to communicate to each debtor based on their values instead of using threatening language. Examples given by the CEO include a message to young person "You forgot all about me. I’m sitting here in the dark eating chocolate, listening to love songs", and a message to an older person ‘You can do this! This debt is yours. You have to take responsibility, and this is our offer.’ 

It will be interesting to track the progress of this new approach to the collection industry and see how it unfolds. The company is reporting collection results that are on par and sometimes significantly higher than the collections company being used previously. The company charges a 33% commission on monies received.


This article was sourced from


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