Eltropy Joins Forces with Tenemos Infinity to Streamline Credit Union Collections
August 3, 2021
Northwest credit unions now have a new way to reach and connect with members during the collections process.
Eltropy, a top provider of secure and compliant text messaging for financial institutions, recently unveiled its Text Connector for the digital banking platform Temenos Infinity. The new integration enables credit unions to manage all collections conversations with members in one convenient place. Credit unions that have partnered with Eltropy for help with collections are already seeing great success.
“Our members who would never pick up our collections calls before opened up their hearts on text,” said Shawn Spratte, SVP of Loss Mitigation and Communication at Colorado-based Canvas Credit Union. “I continue to be blown away with how effective text messaging is for loss mitigation.”
With these combined solutions, credit unions can create automated text campaigns, sending regular payment reminders and information about financial assistance programs. The integration also supports person-to-person conversations during late-stage delinquencies, and responses from account holders are captured in Temenos Infinity, enabling collections managers to view all interactions and accounts from a single dashboard.
“We are the only Text Connector for Temenos Infinity for Collections,” said Ashish Garg, founder and CEO of Eltropy. “According to our research, texting is 40 times more effective compared to phone calls for collections. With Eltropy and Temenos, credit unions will be able to seamlessly move collections to a digital-based platform that ensures greater responsiveness and successful repayment.”
Larry Edgar-Smith, SVP of the Business Solutions Group at Tenemos Infinity North America, said this new partnership with Eltropy will revolutionize how financial institutions approach collections.
“The collections industry as a whole is evolving, especially in the area of communication strategies, moving from traditional phone calls to a digital-based collection strategy,” he said. “With Eltropy, we are leading the way toward the future of collections.”