Flexible Payments, Fixed Recoveries.
For customers unable to pay their overdue amounts in full, this AI agent can analyze their situation and offer pre-approved, viable payment plan options based on company policy and customer risk profile.
The Problem
Problem Solved:
Negotiating payment plans can be time-consuming for collectors. Ensuring consistency in offered plans and assessing a debtor's true capacity to pay can be difficult, potentially leading to unrealistic plans or missed opportunities for recovery.
Key Features & Benefits
Key Features & Benefits:
- Higher Recovery on Difficult Accounts: Facilitates partial payments instead of complete write-offs.
- Structured Repayment: Offers clear and manageable payment plans to debtors.
- Reduced Write-Offs: Converts potential bad debt into recoverable amounts.
- Policy Adherence: Ensures payment plans align with company guidelines.
- Automated Offers: Can present plan options without immediate human intervention for certain segments.
How It Works
How It Works:
This agent uses Machine Learning (ML) to assess a debtor's affordability based on available data (if any beyond the debt itself, or through interactive queries if designed as a chatbot). It operates within Rule-Based Systems defined by company collection policies to generate and offer suitable payment plan structures (e.g., number of installments, minimum payment).
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