Startup of the Week / TrueAccord: Restoring humanity to debt collection through technology
This Israeli startup replaces the human debt collector with technology that seeks to find a middle ground between debtor and creditor.
Collecting bad debt is awful. Not only people and small businesses suffer. Monster businesses feel the hurt, too. Eighty percent of businesses in the United States routinely report impairment to cash flow due to late payments. Big companies, including Israeli telecom companies and banks, enlist law firms for the task, which consumers loathe – not that they would prefer masked thugs.
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