Rifco boosts cure rates with Symend's customer-centric debt recovery approach
26.6%
Self-cure rate via email payment links
80%
Reduction in outbound calls
34%
Reached out directly by phone or email
The Challenge
Rifco's repair loan portfolio faced rapid delinquency growth, quadrupling within one year. Since third parties originated the loans before Rifco took over servicing, customers didn't recognize the brand and dismissed collections messages as spam. The team used generic AI tools for campaigns, resulting in inconsistent messaging.
"People really had no idea who we were. They thought our messages were spam, so they didn't respond."
— Tammy Shanks, Manager of Collections and Customer Service
The Solution
Rifco adopted SymendCure, which provided:
- Customer segmentation refinement using predictive scoring
- Behavioral science-driven messaging tailored to customer segments
- Reduced outbound call frequency (from daily to weekly per segment)
The Results
- 26.6% of email recipients self-cured using payment links
- 34% reached out directly by phone or email
- Of those who contacted Rifco, 30% made payments or requested payment instructions
- Approximately 80% of customers were correctly classified initially
"Symend keeps it about the facts. There are no opinions, no judgments, no emotions."
— Tammy Shanks, Manager of Collections and Customer Service
The Outcome
Enhanced brand recognition, improved customer trust, increased positive Google reviews, and sustainable engagement improvements. Rifco plans expanding the partnership to additional loan portfolios.
