AI debt collection software allows companies to automate debt collection strategies, while also staying within the ethical framework and providing a human-like approach.
UK households are facing a cost-of-living crisis. In July 2022, the annual rate of inflation reached 10.1% and it is expected to peak at 13% in early 2023. This is why companies using any AI solution for debt collection, such as a loan bot or smart IVR, have to focus on customer empathy first and foremost today.
AI and debt collection combine to help companies be as courteous as possible to people in a predicament, while still focusing on recovery.