While Kredit supports organizations sending SMS messages from 10DLC numbers, each Kredit Network Member receives assistance to subscribe for a vanity or non-vanity short-code. Registering each organization as an approved sender supercharges SMS delivery rates and eliminates messages getting blocked by carriers for suspicious content.
Does Kredit require purchasing large blocks of message credits?
No, Kredit does not require organizations to make large capital investments before seeing performance. Get started by testing delivery, conversion and payment rates before scaling investments in the email and SMS channels.
Does Kredit help me know what email and SMS messages to send?
Kredit supports Network Members with a set of free email and SMS message templates developed by veteran industry practitioners. Communications are delivered under each organization’s name (not Kredit's), matched to their brand colors, and managed through the Kredit platform.
Note: Communication templates Kredit provides must be reviewed with an organization's compliance and legal teams before use with consumers.
Can Kredit Network Members leverage their own communication templates?
Yes! Kredit aspires to be helpful to Network Members, not restrictive. If an organization has invested in developing their own templates they can upload them to the Kredit platform and send them through Kredit's infrastructure.
How are consumers directed to the Kredit platform?
Kredit Network Members invite account holders to interact with them using unique referral links, which can be added to existing consumer communications. From there, consumers voluntarily sign-up for a Kredit account and explore their resolution options with the collection agency, debt buyer, lender or collection law firm who invited them before they can resolve their accounts with any other organization. Consumers can also sign up organically through the Kredit website without being invited by a Network Member and resolve accounts.
Does Kredit prioritize which firms are paid first?
When individual Network Members drive consumer traffic to the Kredit Portal through referral links, and all Network Members benefit from watershed consumer engagement, the original organization must be repaid before others. If a consumer finds the Kredit platform without being invited by a specific organization, no organization is prioritized over another.
Can Network Members choose to only accept certain payment methods?
Yes. While Kredit and its payment processing partners support payment methods including bank transfers, debit cards and credit cards, each Network Member makes the final decision about what payment types they want to accept. Some organizations don't accept certain payment types for regulatory reasons or because of client restrictions. Others do so to minimize fees.
Can organizations turn off features the Portal supports, but they aren't ready to use?
Yes, Kredit's flexible architecture allows every Network Member to individually choose which interaction features they want to turn on or turn off. While Kredit's goal is to maximize engagement between consumers and Network Members, no organization is forced to enable every feature set. Examples include live chat, chatbots and disputes.
Does Kredit ever interact directly with consumers?
The only time that Kredit interacts with consumers is when they have technical support questions about the Kredit platform itself. Kredit does not answer account-related questions for consumers. In the event a consumer asks Kredit an account-related question through a technical support channel, they are referred to speak with the organization who manages their account via one of their available communication channels.
What type of consumer financial advisors does Kredit support negotiating with?
Kredit allows for-profit debt settlement firms, non-profit credit counseling agencies, and legal advisors to negotiate through the Debt Settlement application. Each organization is required to be properly licensed by regulators.
How does Kredit enable organizations to ensure debt settlement firms and other organizations have properly gathered consumer consents to negotiate on their behalf?
Each Kredit Network Member is able to set the unique consumer consent gathering parameters they are comfortable working with each counterparty under. Organizations can set the same consumer consent requirement for all counterparties, or vary their consumer consent requirements for every organization.
The consumer consent gathering options Kredit supports include (i) each organization uploading a single blanket Authorization to Communicate that attests they've gathered all consumer consents required to negotiate with any counterparty (with an audit right), (ii) each organization individually uploading a signed Authorization to Communicate for every consumer they represent or (iii) each organization leveraging Kredit's independent infrastructure to gather an electronically signed Authorization to Communicate from every consumer, naming the Kredit Network Member with which the consumer permits them to negotiate.
Do debt settlement firms get to view the settlement rules Kredit Network Members set?
Consumer financial advisors do not get to view the settlement rules which Kredit Network Members set. Financial advisors may request pre-approved settlement options which infer settlement options for a consumer's specific scenario, but the rulesets themselves are not shared.
Are organizations required to exclusively negotiate through Kredit?
Kredit does not require that its Network Members exclusively negotiate through Kredit. If an organization has existing direct relationships they wish to maintain, Kredit does not discourage those.
How is sensitive consumer data handled to ensure information security?
Kredit provides both Kredit Network Members and consumer financial advisors a secure application to operate in. These applications communicate with one another, in a closed ecosystem which ensure information security standards are met, without dependencies on organizations internal technical capabilities.
Still have questions?
The Kredit team is ready to provide any additional information you need.
