With fresh capital, Symend aims to build a better debt collection system

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  • text and email) while providing that business access to playbooks for various debt collection scenarios (e.g., delinquent credit card).“Our clients continue to use general-purpose engagement platforms to manage their broad-based customer communications but deploy Symend specifically to solve complex challenges around their past-due customer base,” Joshaghani said.
  • Kaminsky’s background is marketing — prior to co-founding Symend, she was the head of sales and marketing strategy at Frog3D, a CNC fabrication business.Examples of messages customers might see from brands working with Symend.Both Joshaghani and Kaminsky personally experienced the negative impact of debt, they say.
  • “This latest injection of growth capital allows us to meet the growing demand for our behavioral engagement technology around the world.
  • A 2016 whitepaper from the Association of Credit and Collection Professionals International found that debt rose from $150 billion to over $600 billion in the previous five years.
  • According to a September 2021 survey from Bankrate.com, 42% of U.S. adults with credit card debt increased their balances since the pandemic began in March 2020.
  • Via the platform’s workflows, businesses can engage with nearly-delinquent customers at points likeliest to drive turnaround.
Squeezed by the recessionary COVID19era economy and the rising prices of everyday goods, some consumers are increasingly turning to lines of credit to make ends meet. According to a September 2021 [+5951 chars]