As large number of consumers continue to experience unemployment and financial hardship, many organizations are now facing a debt collection crisis. While some could choose to shrug this situation off as a one-time occurrence, they also have the option to recognize this as a crisis management opportunity that bolsters their collections strategy to reduce cost and increase efficiency over the long term.
Virtusa’s vCollect solution is an AI and data-driven customer collection experience that helps collections service personnel provide a complete contact and treatment strategy. vCollect leverages data from traditional and digital sources to generate and execute next-best-actions that are centered around what actions a specific customer can take in any collections scenario. Instead of a one-size-fits-all approach, this Pega-based solution promotes a personalized customer experience that takes overriding factors into account, predicts the best time to contact customers, and deploys interactive voice response chatbots that can deliver payment reminders and fulfill payments.
With vCollect, your organization is empowered with:
- Applied AI techniques to learn, plan, and make decisions to improve process efficiencies
- RPA techniques to reduce manual efforts on repetitive tasks
- Configurable components to better customize features as per business and customer needs
- Real-time view of customer segmentation based on key factors
- Systems to develop algorithms to predict potential delinquent accounts