AI Use Case

Tailor debt collection processes by identifying which practices are most effective for different segments of customers

Tailor debt collection processes by identifying which practices are most effective for different segments of customers. This is a sensitive process with occasional risks.

Function

Customer Service

Account Management

Benefits

Cost - Staff efficiency,Cost - Optimise resource allocation

Case Studies

"LendUp~LendUp has built a machine learning driven platform to encourage debt holders to make payments using personalised reminders, offers and repayment plans",The New York State Department of Taxation and Finance~New York State increased its collections from delinquent revenue by 8% using reinforcement learning

Industry

Financial Services

Banking

Data Sets

Structured / Semi-structured

AI Technologies

Traditional AI,ML Task - Action Selection - Reinforcement Learning ,Machine Learning (ML),ML Task - Grouping - Clustering

Potential Vendors

IBM Research