Vexcash customers pay faster – first credit platform applies smart software from collectAI
Hamburg, 26.09.2019 – The digital payment reminder service the Fintech collectAI is now being used for the short-term credit platform Vexcash. Vexcash applies collectAI’s receivables management solution to remind its borrowers of outstanding payments. Artificial Intelligence optimizes customer communication, selecting the most effective time and channel.
Hamburg-based Fintech collectAI’s software platform supports payment reminders for the short-term credit platform Vexcash. Within this framework, customers are reminded via email or text message if the payment for their credit installment hasn’t been received by the agreed date. Each reminder contains a link to a Vexcash-branded payment page. There, customers choose from common payment methods such as SEPA and direct bank transfer and thus comfortably pay the outstanding amount.
Payment reminders strengthen customer relationships
collectAI increases customer reachability by adding four digital communication steps to the existing process of the two dunning levels. Vexcash’s customers pay much faster and give very positive feedback. “Many thanks for the friendly reminder and the payment link. That worked well”, states Julia W., a Vexcash customer.
Andre Achtstaetter, CEO of Vexcash, is also happy about the successful cooperation: “For us as an online platform for credit brokerage, collectAI is the perfect partner for digital receivables management. The software supports our scaling and adapts itself optimally to our workflows as a digital growth company. This has a positive effect on customer relations and leads to an increasing number of recurring borrowers.”
Andre Achtstätter, CEO at Vexcash
Thomas v. Hake, collectAI managing director, adds: “With our AI-based software, we have digitalized Vexcash’s receivables management end-to-end. This allows us to optimally support the growth strategy of this ambitious company”.
Thomas v. Hake, Managing Director at collectAI
collectAI is a software platform for intelligent receivables management with digital, AI-based payment services. It offers modular or integrated options for digital payment, smart reminders and white label payment pages. The smart technology flexibly optimizes the goals of higher realization rates, cost reduction and customer loyalty and combines digital communication channels with a variety of payment methods for a smooth process. As a result, collectAI fundamentally improves the customer experience and puts the needs of the end-users at the center of the service. Founded in 2016, collectAI is part of Germany’s largest e-commerce retailer, the Otto Group.
Christin Martens, Head of Brand & Story
Phone: 0163 54 13164 | Email: firstname.lastname@example.org
Vexcash AG launched the short-term credit platform in 2012 and is the first and leading provider of short-term loans in Germany with terms of 30 days to 6 months. Vexcash thus opened up a market that has not yet been tapped by banks but is increasingly being used by consumers. The fintech was the first provider in Germany to introduce the electronic contract signature together with WebID Solutions. VEXCASH also pioneered in video identification in 2014. Customers benefit from a fast, lean and convenient payout within 60 minutes. Since August 2017, Vexcash has been a subsidiary of 4finance Group, the global leader in digital consumer finance.
Nicole Hubert, Head of Communications
Phone: +49 30 850 70 55 25 | Email: email@example.com