New capital includes an earlier seed round as well as an investment in Series A. Investors include: Framework Venture Partners, Anthos Capital, Vulcan Capital, and additional independent investors. Andrew Lugsdin, Partner at Framework Venture Partners, will join the Board of Directors of Attunely
The funds will be used to expand the team with a focus on data science, data and security software engineers, client success resources, product/program management, and marketing.
“Attunely is uniquely positioned to help reinvent consumer collection and lending experience in the light of the economic damage caused by the COVID-19 pandemic. Its dynamic machine learning models provide an opportunity for improved commitments across the industry. Now, more than ever, businesses need tools to empower responsible consumer engagement and improve business practices. I’m excited to join the Attunely team and support their growth,” said Andrew Lugsdin, Partner, Framework Venture Partners.
“In the current economic climate, we believe that machine learning is well suited to enabling creditors, lenders and revenue-cycle management agencies to engage in more tailored commitments during and beyond the pandemic-driven unemployment environment. Undoubtedly, COVID-19, created a ‘new normal’ Attunely’s machine learning models are designed to provide greater flexibility and efficiency during a transformative time for the wider economy,” said Scott Ferris, Founder and CEO of Attunely.
Attunely Models Improved Revenue Recovery
Powered by an unidentified consumer interaction behavior, Attunely’s machine learning platform prescribes the most effective outreach tactics for every phase of the service and delinquency life cycle. Attunely’s models are tailored to enhance revenue recovery, reduce costs, prevent customer churn, and identify the best time of day to reach the consumer.
Scott Ferris, CEO of Attunely, adds: “We understand that our clients are operating in a difficult environment and our dynamic machine learning models can ease the friction between the financial institution and the consumer. “That’s right.
Dynamic score models of Attunely include:
Pay Propensity Model
The Attunely propensity model estimates the likelihood of payment from each account, resulting in an overall probability score that changes dynamically in response to ongoing interactions between the organization and its consumers.
Model of Liquidation
The Attunely Liquidation Model combines behavioral signals with the customer’s historical transaction data to generate the expected value of revenue recovery. Billions of historic calls, letters, emails, and text messages are reported and dynamically refines an account-level score based on each interaction with the consumer.
Model Time of Day
Using billions of unidentified historical call records and combined with Attunely’s existing liquidation score model, it produces a dialer-ready call file that matches the highest-yielding accounts with their preferred time slots. This allows more contacts to use fewer call attempts, building on Attunely’s comprehensive suite of machine learning models.
Model of Omnichannel
The Attunely Omnichannel score ranks each communication channel and identifies the most productive form of outreach on each account. In combination with the liquidation score, this ensures an optimal balance between immediate recovery, maximizing long-term value recovery (LTV) and giving the consumer time to repay.
Model of Settlement Optimization
Attunely’s settlement models leverage unidentified historical collection data to estimate the likelihood, timing, and expected recovery value of contingent or debt portfolios. This enables recovery experts to calculate the best bid, whether it is a settlement, payment plan, or full demand for each account.
On Attunely Inc
Attunely is a proven, compliant and reliable machine learning platform that makes it easy, seamless and profitable to recover receivables and thus improves creditor performance, reduces risk in the credit ecosystem and facilitates better consumer experience.
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