Wharton Fintech Podcast

"The most contrarian take I have is that there is value in working with consumers in debt." Here are a few stats for you: - The average US household as of November pays almost 9% of its income to debt - Total household debt reached $14.35 trillion this fall per the New York Fed - The average person in debt owes money to 4 different lenders The current process for debt collections  --  a highly sensitive, case-by-case, and often life-defining financial situation -- has not evolved much in the last 50 years. The process is still how most would imagine…a collections team is assigned a low-base salary and high-commission, and is tasked with harassing debtors multiple times a day with a one size fits all approach. This process is inflexible, stressful, and borderline inhumane as each person has unique financial needs. Enter Ohad Samet and TrueAccord. After honing his time at companies like Fraud Sciences (acquired by PayPal), Signifyd, and Klarna (as their CRO), Ohad recognized this enormous problem and the nee