MALVERN, Penn.–AKUVO, a provider of collections and credit risk management solutions, has announced new platform enhancements it said fully automate the vehicle repossession process.
“With these updates, AKUVO offers full integration with Recovery Database Network (RDN), a leading platform for managing repossession assignments and vendor relationships,” the company said in a statement. “By combining intelligent automation and bi-directional communication with RDN, the AKUVO Platform allows financial institutions to manage rising repossession volume with unprecedented efficiency. Institutions can now automate the entire lifecycle of a repo assignment, eliminating fragmented processes and reducing the need for additional staff and manual follow-up.”
The Goal
“Our goal is to help lenders handle increased volume without adding headcount,” CTO and Product Officer Mark Price said in a statement. “Through automation and strategic integrations like RDN, we’re giving financial institutions the tools to act faster, stay compliant, and reduce operational strain.”
Configurable Repossession Playbooks
AKUVO’s said its configurable repossession playbooks allow credit unions and banks to automate tasks and decisions throughout the entire lifecycle of a repo, while the RDN connector enables real-time, bi-directional communication between the AKUVO Platform and recovery agents.
Key Benefits
According to AKUVO, key benefits include:
- Full lifecycle automation of the repossession process
- Seamless integration with RDN, enabling direct assignment of repossession orders to agencies and forwarders
- Bidirectional updates, ensuring real-time visibility between lenders, AKUVO, and RDN
- Automated triggers based on RDN status changes to streamline decision-making
- Customizable playbooks based on institution-specific criteria
