The Convoke Platform

Convoke is a collections intelligence platform that is transforming the way credit issuers manage third party debt collection, leveraging a decade of experience for the issuers it serves. It provides unprecedented transparency and accountability, facilitating debt validation and third-party oversight. With its powerful reporting, tracking, and auditing capabilities, issuers are able to have confidence that they are in compliance with internal and regulatory requirements. Convoke enables credit issuers to grow recovery, reduce costs, improve compliance, and protect their brand.

$30M
Product Investment
100+
Platform Releases
40M+
Loans
3.5B+
Data Records
400M+
Documents

Features

Who Uses Convoke?

Many of the largest consumer banks in the United States are long-standing Convoke customers, including four of the five top US banks. Convoke is a market-tested, trusted solution for banks, as well as online and retail lenders, for their collection and recovery needs. Over 300 of the top US collection agencies, attorneys, debt buyers, and debt settlement companies use Convoke as registered platform users.

Continue or Restart Recovery Channels

Many credit issuers adopt Convoke to promote compliance and prudently manage recovery channels. For example, some had previously stopped litigation or debt sales resulting in elimination of revenue. Adopting Convoke enabled them to restore these channels and grow recovery dollars.

Improve Productivity

Every credit issuer that has adopted Convoke has realized improved productivity, enabling them to reduce their workforce, eliminate manual processes, terminate inefficient vendor relationships, and decommission internal systems. These benefits have helped them significantly reduce their operating costs, enabling them to allocate capital more efficiently.

Exercise Vendor Oversight

Convoke reduces the time required for on-site audits through the superb visibility provided on the platform. While there will always be benefits to site visits, credit issuers can reduce or eliminate days required on-site (and the related travel costs) through Convoke. This is even more valuable in today’s challenging travel environment.

Increase Collection Rates

The Convoke platform provides credit issuers tools that will give them key insights from their data and analytics, enabling them to increase recoveries to new levels. Using Convoke’s transformative tools and reporting, credit issuers have achieved recoveries that were previously unattainable.

Protect Brand

Wherever a consumer is in the collections process, credit issuers want to ensure that they are treated fairly to ensure their brand reputation is protected. Convoke provides issuers and third parties the tools they need to help minimize consumer harm and foster fair treatment and respect for consumers.

Cost of Non-Compliance

Convoke customers consider the cost of regulatory non-compliance during their decision process. Credit issuers have found that Convoke addresses compliance requirements in nearly every violation identified and remedy required in collection-related consent orders.

Build vs. Buy Decision

Credit issuers who use Convoke agree that its capabilities and features are integral to continuing collection activity in today’s current environment. Consideration needs to be given to obtaining those features by building an internal, custom solution or by adopting a collections intelligence platform like Convoke. Each of our customers has considered the alternatives and concluded that Convoke was the most cost-effective solution.

Validate Debt

Debt validation requirements in the industry have increased for all collection channels, resulting in challenges for credit issuers to deliver media. This often results in duplicate media requests and failure to deliver the required documents. Convoke’s unique media fulfillment features automate, streamline, and organize the media capability of issuers, enabling them to serve the consumer and meet regulatory requirements.

How It Works

All Collection Channels – One Platform

Convoke serves as the central, secure hub between credit issuers and third parties who collect consumer debt. It provides deep insights into the granular details of all collection actions, allowing for transparency and accountability for every aspect of recovery.

4 of 5

Largest US Banks

Including the top 3 US credit issuers

Over 300

3rd-Party Vendors

  • Collection Agencies
  • Attorneys
  • Debt Buyers
  • Debt Settlement Companies

Usecases

Who’s Using Convoke?

Many of the largest consumer banks in the United States are long-standing Convoke customers, including four of the five top US banks. Convoke is a market-tested, trusted solution for banks, as well as online and retail lenders, for their collection and recovery needs. Over 300 of the top US collection agencies, attorneys, debt buyers, and debt settlement companies use Convoke as registered platform users.

Learn how others are using Convoke to grow recovery, reduce costs, improve compliance, and protect their brands.