Eltropy Acquires Lexop

Eltropy, providers of a unified conversations platform for community financial institutions, has acquired Lexop, a collections technology provider, for an undisclosed amount.

With Lexop, Eltropy now has a self-serve solution that allows debtors to make payments with two clicks on their phones before the due date. The combination of Lexop's collections technology and Eltropy's AI-powered platform transforms debt repayment into a proactive process via text, email, and voice. It includes ;AI-driven intelligent payment reminders before and after the due date; customizable workflows with pre-designed messaging; integration with digital wallets like Apple Pay and GPay, via custom-branded payment portals, and leading core systems like Jack Henry Symitar, Fiserv DNA, and Corelation Keystone; and detailed dashboards with AI-driven actionable insights.

"The world needs a better way for people to pay their debt obligations. Today's phone-call-driven experiences are extremely inconvenient for the borrower, making it difficult for [community financial institutions] to collect debt payments on time," said Ashish Garg, CEO and co-founder of Eltropy, in a statement. "By combining Lexop's people-first collections technology with our AI-driven communications platform, we're delivering an offering that increases effectiveness with empathy."

"We built Lexop to create a better past-due member experience," said Amir Tajkarimi, CEO and co-founder of Lexop, in a statement. "By joining Eltropy, we are reinventing loan repayment and collections, helping credit unions and community banks improve recovery rates while preserving relationships with their members. We have been watching Eltropy take the CFI world by storm and could not be more excited to join hands."