Eltropy, an award-winning compliant and secure digital communications platform for Financial Institutions, has unveiled its Text Connector for Temenos Infinity, the leading digital banking platform. The new integration allows mutual customers to use Text Messaging to contact account holders during the collections process, managing the conversations within Temenos Infinity.
“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, Financial Institutions will be able to seamlessly move collections to a digital-based platform that ensures greater responsiveness and successful repayment.”
With these combined solutions, financial institutions can create automated text campaigns. Within Temenos Infinity, Eltropy can confirm which are mobile numbers before sending reminders about payments and financial assistance programs. The integration also supports person-to-person conversations during late stage delinquencies. Responses from account holders are captured in Temenos Infinity, enabling collections managers to view all interactions and accounts for each individual from a single dashboard.
“We are excited to integrate our market-leading digital banking platform with Eltropy as a text provider for our Collections and Recovery customers. 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. This integration allows our mutual customers to use this rising communication channel to proactively contact account holders as part of their collection and recovery journey. With Eltropy we are leading the way toward the future of collections,” said Larry Edgar-Smith, SVP of the Business Solutions Group at Temenos Infinity- North America.
Eltropy’s current customers have seen success in both Text Messaging one to many reminders for early-stage delinquencies, as well as late-stage, one-to-one conversational messages.
“Our members who would never pick up our collections calls before opened up their hearts on Text,” said Eltropy customer Shawn Spratte, SVP of loss mitigation and communication center at Canvas Credit Union. “I continue to be blown away with how effective Text Messaging is for loss mitigation.”
Eltropy enables Financial Institutions to digitally engage in a secure and compliant way. Using our world-class digital communications platform, Credit Unions, Banks, Debt Collectors, Insurance Companies, Lenders and FinTechs can improve operations, engagement and productivity. Eltropy also integrates with IT systems, such as Symitar and Corelation, and uses Analytics to provide engagement insights. For more information about Eltropy, please visit eltropy.com.
Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business. For more information, please visit www.temenos.com.