New York, NY, July 20, 2023 — Sedric.ai (“Sedric AI”), a pioneer in AI-driven compliance solutions for consumer finance firms, today announced that accounts recovery management (ARM) industry veteran David Sargent has been named Director of Sales. Sargent, who brings more than 30 years of experience in the ARM industry as an entrepreneur and sales executive, will expand and strengthen Sedric AI’s U.S. client relationships.
“David is well-known for helping to transform the debt collection industry from a paper-based, dialer-focused sector into a more digitized industry,” said Nir Laznik, Co-Founder and CEO at Sedric AI. “His sense for innovation and extensive business experience brings additional expertise to help our clients boost collections while minimizing risks and navigating the current economic and regulatory climate. David is deeply familiar with the ARM ecosystem and we are thrilled to welcome him to our team.”
“I’m excited to join Nir and the Sedric AI team on their mission to bring advanced AI technology to the ARM industry,” said Sargent. “Throughout my career, I’ve seen the transformative impact technology can have for debt collection firms. Sedric AI’s platform can help alleviate a number of challenges that the industry is currently facing at the compliance, operational, and human resource levels. The insights it provides helps compliance and operations teams work better together, creating the first love story, so to say, between these two functions that are usually at odds.”
Prior to Sedric AI, Sargent served as the National Account Director at LiveVox. Before that, he either co-founded, or led several successful ARM tech ventures, ranging from contact center solutions to a cloud-based collection software company that was acquired by Fiserv.
This appointment is another important milestone in the company’s U.S. expansion where AI-based RegTech solutions are in growing demand due to tightening consumer protection regulations. Over the past 12 months, Sedric AI has onboarded numerous high-profile financial services companies across lending and collection, trading, and foreign exchange. The company has built out its platform to help collectors and creditors optimize their entire compliance and operations cycle, from real-time agent assistance and AI summarization to automated QA, and personalized coaching. Sedric AI has also added new documentation capabilities to alleviate the ever-growing reporting and auditing burden. Collectors using the application have seen significant improvements in their business, including a 30% increase in outcomes and a 40% decrease in compliance violations.
About Sedric AI
Sedric AI is a compliance excellence platform for consumer finance organizations. With AI-based real-time monitoring, detection, and analysis of all consumer interactions, Sedric AI ensures customer protection, minimizes risk and expedites business growth. Sedric AI empowers compliance teams to quickly apply new laws and regulations across their growing business operations and enables them to focus on high-risk events across traditional and digital channels. The company was established by Nir Laznik and Eyal Peleg in 2020 and is proud to serve consumer finance organizations on three continents. It was recently awarded Most Promising Fintech Startup by CitiBank and Visa. For more, please visit: https://www.sedric.ai/
