Automated debt recovery platform TrueAccord has chosen Lenexa, Kansas for its new shared services operation. The company will invest $1.34 million and will expand to more than 150 professionals over the next three years across sales, operations and technology functions. The 12,000-sq. ft office space will open in April 2019 and is located at 16011 College Boulevard.
“We chose the greater Kansas City area after a thorough nationwide search,” COO Sheila Monroe said. “We reviewed factors such as ease of travel, cost of doing business and the local culture. Ultimately, our decision came down to the ability to attract top talent to meet our growing business needs. The expansion and our new team members will help to further the TrueAccord mission to modernize and improve the debt recovery marketplace.”
Headquartered in Silicon Valley, TrueAccord is reinventing a decades old industry that is broken and operates on a legacy system marred by bullying tactics, the company said in a release. Its data driven tech platform that uses machine learning, behavioral analytics and a humanistic approach is designed to improve debt recovery rates and reduce compliance risk, while giving customers the best user experience possible.
To date, TrueAccord has raised north of $30M in venture capital, counts top banks as its customers, reaches 4.5 million consumers, has more than $4 billion of debt on the platform and has recovered more than $100M for its clients.
“We are proud to welcome TrueAccord to the KC region,” said Tim Cowden, president and CEO of the Kansas City Area Development Council. “KC has the financial base and technology components needed to support a growing fintech ecosystem.”
Founded in 2013, TrueAccord bridges the gap between the creditor and the roughly 77 million Americans who have debt in collection. This is the first time the antiquated (and often menacing) debt collection system has been challenged in decades. The TrueAccord platform was built with the goal of disrupting debt collection with AI, transparency, and most importantly – compassion.
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