AI debt collections
How chatbots and automation supports debt collection
Can you believe that the very first chatbot was created in 1966? This makes the technology older than the internet. Admittedly it did take many years to flourish however it was not until 2016 when Facebook allowed developers to place chatbots on Messenger that we saw a turnaround in the use of this technology. …
Read More3 Technologies That Will Provide A Much-Needed Makeover To The Debt Collection Process
The regular inflow of cash is an essential requirement for the survival and growth of any business. Payment from invoices is one of the primary sources of cash inflow. However, many companies struggle with getting their invoices cleared from customers for one reason or another. That’s where debt collection services come into the picture. What…
Read MoreHow technology and AI is disrupting the debt collections industry.
A couple of weeks ago I posted a blog that talked about why I feel traditional debt collection agencies are a thing of the past. The purpose of that post was not to belittle the industry of debt collection, more to highlight that many debt collectors still use traditional methods to recover unpaid invoices. If…
Read MoreChanging The Debt Collection Landscape – How To Empower People In Debt Collection
The debt collection industry has come a long way in the past few years. The introduction of AI debt collection, machine learning, and chatbots has shifted the tide of the debt collection landscape. Many policies have been introduced to empower people in the debt collection industry. However, there is still a long way to go…
Read MoreHow Tech And Automation Support Debt Collection At Scale
Technology is transforming how everything works in the modern world. Most Fintech industries, like lending and payments, have embraced these changes for quite some time. However, the debt collection industry lagged in terms of technological advancements. With the onset of the pandemic, digital mediums became indispensable. The debt collection industry also caught up on the…
Read MoreHow is Mobile technology Empowering Debtors to Take Back Control
The past few years were of great economic turmoil globally. A global pandemic, wars, and subsequent crises have changed a lot of things. There is a sudden increase of debtors who are not paying their dues due to financial problems. Experts feel debtors can regain control of their finances with the help of mobile technologies,…
Read MoreWhat is Digital Debt Collection And Why it Works
Digitization is happening in every industry and sector in the world. Introducing digitization has changed how industries function and what customers expect from businesses. Now, customers expect companies to communicate with them digitally and amiably. The collections industry needs to switch to digital platforms to engage customers. The debt collection industry has always had a…
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