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Articles
Why Chatbots and Automation Work for Debt Collection
Debt collection technology has changed dramatically. The COVID pandemic certainly had quite an impact, but overall, people’s online behaviors have changed, especially when it comes to how they handle their finances.Instant gratification has become the norm. That’s why chatbots and automation are working so...
Read more....October 18, 2023
Trends Shaping The Debt Collections Sector
Scalable information and communications technology has revolutionized how information, content and experiences are created and consumed. India has witnessed massive change in across industries on account of digitisation. While the financial services industry has always been a keen adopter of technology,...
Read more....October 11, 2023
A Fresh Perspective On Ethical Debt Collection Strategies For the Digital Age
Even though the methods for collecting debt have improved over time, many businesses still avoid investing in credit technology due to the unpredictability of lenders' relationships with borrowers. Multiple worldwide sectors have been compelled to move their business activities online due to the...
Read more....October 4, 2023
Big Idea : Removing Aggression from The Debt-Recovery Equation Could Reduce Banks’ NPAs
As per RBI’s financial stability report, released in December 2021, the Gross Non-Performing Assets (GNPAs) of banks may rise from 6.9 per cent in September 2021 to 8.1 per cent by September 2022 under the baseline scenario, while under the severe stress scenario they...
Read more....September 27, 2023
Using a Collection Agency for Unpaid Invoices
When collections are an absolute hassle, it’s nice to know that there’s an alternative — you can use a collection agency. It’s not a perfect option, but it can be better than spending all of your time chasing after a client for an unpaid invoice. And, since collections is all such agencies really do, they often have resources at their disposal that the...
Read more....September 20, 2023
AI and ML-Based Technologies Empowering New-Age NBFCs to Offer Hyper-Personalised Solutions
Resilient and thriving ventures across the sectors have identified the technological capabilities and adopted them to create sustainable, profitable businesses. This enables successful businesses to...
Read more....September 13, 2023
Six Ways Automation Helps Fintech Debt Collection
Six use cases for reducing debt avoidance and driving Fintech debt collectionAmid a globally uncertain business environment and heightened regulatory scrutiny, banks, fintechs, and other lenders are facing relentless pressure to improve debt collections, without escalating recovery costs and time. Current debt recovery solutions still rely largely on manual...
Read more....September 6, 2023
Can AI Make Debt Collection Smarter?
Debt collectors have a tough job. They’re often on the front lines of collecting debts, and it can be difficult work. Sometimes they need to take legal action against delinquent account holders, and that’s an expensive process for both parties involved. Artificial intelligence may provide debt collectors with a means of collecting more money...
Read more....August 30, 2023
5 ways in which Artificial Intelligence and Machine Learning Improve Customer Experience
Digital transformation has disrupted the financial services sector today, creating two worlds, namely traditional and FinTech. Increasing data-driven trends in fintech have cut across traditional financial...
Read more....August 23, 2023
