Kredit provides a digital interface that lets consumers easily discuss and agree on repayment options with collection agencies, debt buyers and creditors. The platform also enables consumers to make payments and track progress towards final settlement.
The platform can be leveraged by any collection agency or law firm, debt buyer or creditor.
Kredit's platform enables consumers to have digital conversations on repayment alternatives for their debt as well as accepting and processing payments.
Consumers can interact with one or many collection agencies, debt buyers and creditors through Kredit's platform.
Kredit removes the need for businesses to internally develop or purchase digital communication, payment processing and account management technology.
Yes, any firm which performs consumer collection activities can leverage Kredit's platform to interact with consumers.
No, Kredit is exclusively focused on enabling businesses that interact with consumers regarding their delinquent accounts.
Yes, Kredit's platform accelerates conversations regarding delinquent accounts, whether a debt buyer or creditor has placed an account with a collection agency or is engaging consumers directly.
A business can invite their account holders to interact with them using Kredit's website widget or the unique referral link assigned to the organization. However, all consumers must voluntarily sign-up for a Kredit account and directly identify their financial network and information to Kredit.
When the consumer follows the unique referral link, Kredit identifies the business they wish to speak with and allows them to seamlessly initiate a conversation.
No, businesses can invite account holders to the Kredit platform, however it is up to the consumer to initiate a conversation.
Yes, Kredit drives traffic to the platform through the publication of online resources and guides designed to inform consumers about managing debt and the options available for resolution.
Consumers can access the platform through any smartphone, tablet, laptop or desktop with internet access.
Business users can access the platform through any laptop or desktop with internet access.
Yes, Kredit's platform is a web application and requires internet access. The platform can be accessed from any device with an internet connection, including public computers.
No, Kredit is a web-based application that can be accessed by visiting www.trykredit.com. No software download is required.
The platform can be accessed by consumers at any time. Each business is responsible for setting their own live support availability.
Kredit encourages consumers to self-identify all their accounts whether in good standing or otherwise. Users can search the Kredit database for business profiles where they know a relationship exists or can access a free credit report through the Kredit platform. The report will identify the current owner or representative for their accounts and then enables the user to add these businesses under their relationships.
Yes, business and consumer users can both send and receive documents to each other via encrypted file sharing.
Yes, the Kredit platform allows business users to have multiple conversations in real time.
Yes, the platform allows business users to propose settlement solutions and installment payment plans to consumers.
Kredit provides a standard settlement agreement that business and consumer users execute via integrated esignature. Fully executed documents are then distributed to each signatory.
Kredit's platform supports ACH transfers through an FBO account. Additionally, Kredit is working to add the ability to accept credit card and other alternative payment types through third party vendors. Each network member is given control of the payment types they are willing to accept based on regulatory considerations and client requirements.
Kredit will introduce advanced reporting tools to enable network members to measure performance and identify opportunities to improve results. Initial measurement will be focused on the activation rate of invited consumers on the platform.
The business needs to contact the Kredit team, provide proof of the organizations good standing and designate an internal representative.
No, Kredit's stand-alone application does not require any technical integration to implement the platform.
The platform is designed to be easily leveraged and does not require technical implementation. In-platform guides walk through how to use each module and Kredit also has on-demand support available.
Front-line representatives are intended to be the primary users of the Kredit platform.
No, the Kredit platform is intended to be utilized in parallel by the same representatives a business would currently have managing consumer conversations.
Yes, Kredit will review business cases for integration with proprietary and 3rd party IT systems with network members. Please reach out to your Kredit representative if there is a specific integration desired.
Yes, a businesses existing chatbots can be implemented as part of the Kredit platform following a review of the business case.
Kredit's core platform will enable digitization for network members, through that network Kredit will offer ancillary products and services to consumers.
No, use of the core Kredit platform is free for Collection Agencies, Debt Buyers and Creditors.
No, Kredit does not charge network members processing fees for consumer payments or keep a percentage of recoveries realized through the platform.
No, Kredit does not charge consumers to manage their debt. Kredit may recommend new financial products and tools to consumers that promote their financial literacy and well-being.
Use of the Kredit platform is governed by its Platform-as-a-Service and Data Use Agreements. Each document has been prepared by Kredit's corporate and regulatory counsel, and is standard for network members. Please contact a Kredit representative to receive a copy for review.
Yes, Kredit leverages the same third party KYC/AML infrastructure as the top-10 banks and credit card companies. All individuals seeking to make payments through Kredit's platform are required to verify their identity and re-verify annually thereafter.
Yes, the Kredit platform enables businesses to export consumer conversations for compliance retention purposes.
No, Kredit is a technology platform which supports businesses, enabling digital communications with their account holders. Kredit does not perform any debt collection activities. Network member organizations are required to maintain their own registration and licenses.
No, communications through the Kredit platform are consumer-initiated and considered "inbound." Inbound communications enable more effective consumer interaction and free your business from "7 in 7" requirements.
Yes, Kredit allows businesses to upload Mini Mirandas that their representatives can display to consumers. Each network members' legal department is responsible for determining the correct language for disclosures. Business users can also send and receive documents through the Kredit platform, including validation notices.
No, Kredit exclusively accepts information entered and supplied by consumers, or imported through direct integrations upon each consumers explicit direction. This ensures proper disclosures are made to each individual and incremental authorizations are provided by them at every step in our data collection and handling process. This also provides legal protection for business users of Kredit's platform from accidently sharing information they are not authorized to share.
Yes, the Kredit platform helps consumers aggregate their financial data through API integrations with third-party infrastructure and data providers. Consumers can elect to supply further financial information to better enable Kredit to assist in managing their debt.
No, data within the Kredit platform is owned by the consumer. Data will not be provided to any business member without explicit direction from a consumer.
No, Kredit does not share consumer account information between organizations.
Kredit utilizes Amazon Web Services (AWS) infrastructure to ensure best-in-class uptime, reliability and security.
Yes, data is encrypted both in transit and at rest.
No, messages sent and received through the platform remain within the Kredit environment. Kredit sends consumer and business users notifications to alert them when they receive new communications or items that require their attention.
Initially conversations with consumers will utilize free-form chat functionality. Kredit will work with network members to employ Artificial Intelligence and Machine Learning to progressively automate interactions.