As citizens of the world, we know that 2020 will ultimately go down in history as a year of great significance. Many of us are eager for the start of a New Year.
At Katabat, a business operating in the US, Europe, and Australia, we have been creating our own amazing story of change and transformation in the midst of these unprecedented times. I am proud to announce the launch of an updated website and fresh new brand look. This effort was accomplished with the backdrop of the pandemic AND a period of record growth for Katabat.
I’d also like to offer a big round of praise for our amazing team and their success in transitioning to work-from-home with minimal disruption. Just because this is a common story for many companies does not make it any less of a source of pride for us. The COVID-19 crisis created tremendous increased demand for our products, and our teams were able to simultaneously shift work patterns AND take on an incredible workload and deliver for our clients. We did all of this, coincidentally, while executing a physical location change at our global headquarters in Wilmington, DE.
We sell industry-leading debt collection software for consumer lenders and fintechs, so the changes in our markets have also been astonishing these past six months. As businesses gear up for the coming recession, there is an unmistakable need for robust and flexible technology to create an effective digital collections experience. Buyers understand how critical a tailored digital experience is to building trust and preference with the consumer. We are proud to have a suite of products that helps our clients deliver on that experience.
The agility of our clients to respond to the pandemic has also been noteworthy, aided just a bit by good technology. One client rolled out a COVID-specific forbearance program for 125,000 mortgage holders within a matter of weeks, creating a brand-defining experience in a time of crisis.
Another client asked us to deploy a quick software enhancement to enable remote agents to work from home, by masking key NPPI data.
Across our industry, another reality of 2020 has been the demand for contemporary and configurable technology to support interconnectedness across services provided to clients. Not only are our clients demanding great products, they want extraordinary levels of data and system interoperability that existed mostly on product road maps just a few short years ago.
At the center of the innovation is an appetite for Artificial Intelligence and Machine Learning. Collection strategies are now driven by the ability to rapidly synthesize available consumer data for a personalized experience that dramatically increases engagement and return. Our award-winning Machine Learning technology is now a feature in every Katabat product and we continue to develop and refine to deliver the best on the market.
Last but not least, our company achieved an incredibly important milestone this August when we were acquired by Tritium Partners and Terminus Capital Partners. With their support, we are well positioned to continue building world-class, cutting-edge software solutions. Simultaneously, we are excited to share our brand refresh, new look and feel for Katabat that embodies the power and energy behind our namesake, the katabatic winds.
I invite you to browse our new website, request a demo, and engage with our team. Our new partners have a strong belief in Katabat’s ability to dominate the debt collection software market. We look forward to 2021 and beyond as we step forward with the confidence and backing of world-class investors.