Debt collection as an experience is horrendous for everyone involved – not just for the customer but for the lender too. AI bots can help organizations reimagine the debt collection experience. With AI you can personalize your outreach and collection strategy.
Reach consumers through any channel (Email, IVR, SMS, etc.)
Messages, invoices, payment reminders, etc. can be automated per your business rules
Converse with consumers (in both voice and text) in over 100 global and regional languages
Track real-time events from the consumer (email opens, link clicks, browsing pattern and interaction with the company’s call center)
In the USA alone, bad debts amount to $700 billion. External debt collection agencies are used to collect more than 50% of these delinquent debts.
of using an AI collection assistant
The bot can predict the consumer’s reaction to communication frequency, timing, channel, and content. By reaching the consumer at the right time, over the right channel, Payjo’s AI collection assistant can improve your collection rates.