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Carol Byrne | 25 April, 2024

How AI can help you support new customers entering delinquency

Understanding and predicting customer behavior is more important than ever when it comes to clearing delinquency at scale. In this respect, AI offers unprecedented insights into new customers entering delinquency. It provides you with the tools to proactively predict, react and manage customers in a personalized way. 

With a configurable platform, AI can be integrated across the collections journey to greatly enhance collections performance and provide unique insight into new customers entering delinquency. 

AI provides the ability to predict customer behavior 

AI transforms raw data into a crystal ball, foreseeing potential delinquency before it takes place. By analyzing patterns within vast datasets, AI can identify indicators of financial stress in new customers. This can include erratic spending, delayed payments, or overutilization of credit lines. These insights provide context to proactive engagement strategies, providing you with the knowledge to mitigate risk before it manifests into actual delinquency.

AI can create effective collections strategies at scale 

For new customers entering delinquency, AI provides you with the tools to create personalized collections strategies at scale. You can leverage analytics to customize communication, negotiate repayment plans, and align recovery strategies with individual customer profiles. This gives you a dynamic approach to enhance collections performance with new accounts entering delinquency without spreading your team too thin. 

AI can adapt to each account in real-time

One of AI's most useful attributes is its capacity for real-time learning and adaptation. By continuously analyzing customer interactions and outcomes, AI systems can dynamically refine collections strategies to remain aligned with customer behaviors and situations.

Machine learning capabilities can also provide accurate predictions and insights based on analytical models and historical data. Simply put, AI can predict what new customers will do based on similarities with historical events. This gives you the insight and context to support customers before they even ask for it, greatly enhancing collections performance.  

Configurable platforms: the key to unlocking AI’s potential 

To harness the potential of AI to support your new customers entering delinquency, you need a configurable collections platform. These platforms are cloud-native architecture that provides seamless AI integration across each layer of your collections operation.

This provides AI systems with the ability to interact with neighboring systems to automate and support customers from beginning to end of their collections journey. This means that AI can perform analytics, utilize omnichannel communications, and harness real-time data flows to exchange collections performance and support customers all on one holistic platform. 

Harness AI seamlessly to support your new customers with C&R Software 

When facing an influx of new customers in collections, it can be challenging to maintain a personalized experience for each. Fortunately, AI integrations across your collections operation can automate personalization at scale. That way, you can be reactive with each new customer to help them regain financial stability, no matter the number of accounts you’re managing. 

Debt Manager is the industry’s leading debt collections and recovery solution that harnesses AI integrations at each step of the customer lifecycle. By seamlessly weaving AI's predictive analytics and decision management capabilities into your operations, you can unlock enhanced collections performance while supporting each account in a personalized way. The result is efficiently hitting KPIs and building brand and customer loyalty at the same time. 

To find out more about Debt Manger’s AI capabilities and integrations that help resolve more debt and humanize collections, contact a member of our team today.

 Carol Byrne
About the author

Carol Byrne

Carol serves as VP of Marketing at C&R Software. Carol connects C&R Software's pioneering products with customers all over the world.

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A guide maximizing customer experience during debt collection

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