AKUVO adds 10 to collection platform during Q3
MALVERN, PA (November 4, 2024) — AKUVO, a provider of technology solutions specializing in collections and credit risk management, announced that 10 new financial institutions signed on to its Collections Platform during the third quarter of 2024.
New AKUVO customers include the following established credit unions and a community bank:
- AMOCO Federal Credit Union of Texas City, Texas, with $1.42 billion in assets and 107,000 members.
- Heartland Credit Union in Hutchinson, Kan., with $639 million assets and 40,000 members.
- Honor Credit Union, headquartered in Berrien Springs, Mich., with $1.8 billion in assets and 110,000 members.
- The $6 billion Shore United Bank in Easton, Md.
- Austin, Texas-based United Heritage Credit Union, with $1.6 billion in assets and 80,000 members.
- The $15 billion VyStar Credit Union, serving 985,000 members from its Jacksonville, Fla., headquarters. VyStar was an early investor in AKUVO and is now a customer.
“VyStar’s collaboration with AKUVO’s collections platform is integral to our commitment to acting responsibly for the benefit of all our members, while also enhancing our responsiveness to their needs,” said Eric Weatherly, VyStar SVP Loan Administration. “By leveraging advanced technology, we transform traditional collection efforts into more personalized and efficient processes. Our digital solution provides a convenient and engaging method for members to address past due accounts. Recognizing the financial challenges some members face, this initiative exemplifies our dedication to meeting members where they are and assisting them in achieving financial success.”
This quarter’s new AKUVO customers said they converted to the AKUVO Platform to gain access to advanced technology, increased efficiencies, improved collections performance and an upgraded borrower experience. New customers also cited the ability to enhance automations and utilize AKUVO’s numerous third-party platform connectors, which offer seamless integration with existing systems and processes.
Steve Castagna, AKUVO Chief Revenue Officer, shared his thoughts on the company’s growth: “Our customers are dedicated to building up their communities while carefully safeguarding their assets, and this group really embodies that mission. We are so proud to contribute to their success.”
About AKUVO
AKUVO is a leading provider of cloud-native collections software solutions that elevate how banks, credit unions, and fintechs collect and manage their portfolios via its products. Whether it is through their stand-alone virtual collector, or its next-generation collections platform, AKUVO provides the technology and data necessary to increase collections efficiency, provide a digital consumer experience, reduce staff costs, anticipate delinquencies, and provide insight into future credit decisions. AKUVO delivers a digital future for collections and account performance management with a visionary, behavior-based approach while taking full advantage of emerging technologies such as artificial intelligence, natural language processing, and machine learning. To learn more, visit www.akuvo.com.
