Trueaccord

TrueAccord is a debt collection company that applies machine learning and a digital-first communication model to consumer debt repayment. Its platform, powered by a decision engine, analyzes consumer behavior and delivers personalized repayment experiences by contacting consumers at the times and through the channels (such as email and text message) that its models identify as most effective, with payment options tailored to the consumer's situation. The stated aim is a self-serve, empathetic repayment experience that retains rather than repels customers, in contrast to traditional call-centric collections agencies.

The company's core product is Recover, a late-stage recovery product through which creditors engage TrueAccord to collect from their delinquent customers and pay a commission on amounts recovered. In September of the year prior to a March 2022 account, TrueAccord launched a second product, Retain, a white-label SaaS product that fintech companies use to address early-stage delinquencies before consumers default. Retain draws on data from the 16 million consumers TrueAccord had worked with directly and through Recover, together with the company's HeartBeat machine learning system. TrueAccord's founder has described the Retain positioning as the "AWS of consumer debt and delinquency."

TrueAccord also maintains an in-house legal and compliance practice and has litigated cases that shape case law for digital collections, including Branham v. TrueAccord (finding email less intrusive than a phone call) and Robertson v. TrueAccord Corp., in which a court found that text messages are not as intrusive as phone calls, that the mailbox rule applies to collection emails, and that the personalized content of TrueAccord's text messages indicated no automatic telephone dialing system was used under the TCPA.

Founding story

Founder and CEO Ohad Samet has said a personal experience dealing with a debt collector convinced him that the traditional collections industry was ready for technology-driven disruption and a more human approach. Before TrueAccord he worked in fraud protection at PayPal, founded Signifyd, founded Analyzd (acquired by Klarna in 2011) and served three years as Chief Risk Officer at Klarna.

Business model

Creditors and lenders outsource collections to TrueAccord and pay a commission on debt that is recovered, meaning client fees also function as a consumer acquisition channel; the company additionally licenses a white-label SaaS product, Retain, to fintechs for early-stage delinquency management.

Commission on collected debt under the Recover product, plus software fees from the white-label Retain SaaS offering.

Traction

More than $1.5 billion of debt flowed through the platform from 2014 through the 2017 Series B announcement, with more than 2.0 million customers on the platform since inception and 2.5x growth in collected accounts between 2016 and 2017. By a March 2022 account, the company had worked with 16 million consumers and creditors were sending 500,000 to 1 million potential customers per month.

Latest developments

In a decision in Robertson v. TrueAccord Corp., a court ruled in the company's favor on text message harassment, mailbox rule and ATDS questions relevant to digital collections. TrueAccord was also named one of the 2025 Best Places to Work in Collections by ACA International and Best Companies Group, one of 48 companies selected.