Leverage loan collection performance with Debt Collections Bot

Automate all aspects of a default management process, reducing collections cost and delivering a more attentive interaction

Challenge

Debt collection agencies encounter inefficiencies in extending customer coverage along with raising staff and mobile service costs

Solution

The smart bot makes up to a million texts and calls a day, informs defaulters about their debts, and makes sure payments are on their way

Results

The bot automates the debt collection process, saving up to 50% on agents. In this way, organisations get a higher conversion rate and extra revenue

Fight defaulting while maintaining excellent customer service

The Debt Collections Bot deals with debtors much faster and 35% cheaper than agents

The bot uses voice, SMS, WhatsApp, and Telegram apps, enabling debtors to communicate with an agency over the channels they feel most comfortable with.

It can show empathy by responding in a more supportive manner after analysing the debtor's emotions.

35%

call centre costs reduction

56%

of debts are paid off after the conversation with the bot

75%

of debtors listen to the bot until the end of the call

100сalls/min

while agents can handle only 100 calls/day

Provide utmost flexibility in debts recovery

Improve loan repayment rates

Clients with arrears are usually reluctant to talk openly about their debts, ignoring messages and calls from debt collectors. Knowing that it is a robot they are speaking to, customers will feel less pressured

Take the load off collection managers’ duties

A single 24/7 operating collections bot can replace the entire contact centre. Designed specifically for a variety of debt collection practises, it has script samples and debtor status lists

Automate customer coverage

Automate your existing default management process by creating custom call flows. Make decisions based on the data collected by the bot, getting real-time results

Manage debt recovery with better efficiency

The virtual assistant initiates automated debt collection calls to late-paying customers

Reimagine the debtors journey with AI

Compliance with the law

Ensuring compliance with asset receivables collection laws in a heavily regulated industry is an ongoing process. Debt Collections Bot scripts comply with all established laws and regulations of the FCA and CSA

Omnichannel collections

The bot can interact in a text or voice channel convenient for the debtor. It engages in a dialogue with the customer, confirming payment dates, and providing answers to frequently asked questions

Human-like dialogue

The phrases and details a smart bot mentions, as well as its reaction to interjections, create the sense of communicating with a real person

Data gathering

During the conversation, the bot collects data like the status of the dialogue and the client's responses, allowing it to aggregate and visualise the necessary data. Can be integrated with your CRM

Channels

Outbound calls

SMS

Email

Trained & live on the line in 4 steps

Discovery

Сollaborative work to identify user requests and develop tailor-made scenarios

Development

We train the bot and add recorded replicas with the voice of your choice

Deployment

We deploy the bot to channels and test outbound communication with a group of real users

Maintenance

We improve the bot and add new intents according to user feedback

Debt Collections Bot generates significant value and boosts performance

87%

Reduction in human error

43%

Increase in efficiency

80%

Increase in debt recovery