How can I unlock the potential of data to enhance efficiency?
Convert your organisation’s historical data from a cost to a benefit through the application of machine learning algorithms created specifically for debt collection. This can help to answer questions such as:
- Which customers are likely to engage online to resolve their arrears without costly actions such as letters or phone calls?
- Which customers have a high propensity to pay and are likely to self-cure?
- Which DCA would provide the right treatment for this customer and be best placed to successfully collect the outstanding debt at the best price?
- Do any of our customers exhibit signs of being in a vulnerable situation?
In each case, the system can then direct each customer to the next best action automatically.
For even more finely detailed insight, custom algorithms can be created to answer timely and highly specific questions to optimise any part of the collections process. As machine learning uses fully anonymised data that always stays under your control, it is fully compliant with security regulations and privacy requirements and will not expose you to data protection risk. The Flexys Cognition solution is built on a deep knowledge of end-to-end collections to ensure the results are correctly interpreted and the actions always appropriate and cost-effective.