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Conversational AI

Automated, interactive customer engagement

Debt Collection

Customer Centric Conversations

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Make it Easy for Your Customers to Talk to You

Chatbots lower the barriers to talking about finances as they remove the awkwardness factor.

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Improve your Customer Response Rates

Customers respond better to digital conversational messaging than to either telephone calls or emails.

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Your Customers Enjoy Convenient Self-Service

Users love the convenience of conversational AI guided self-service for straightforward tasks.

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How Conversational AI Works

Conversational AI uses automated, intelligent chatbots to have two-way dialogues with customers using human-like language. They use Natural Language Processing to understand the intent of what someone is saying - beyond mere keywords and logic rules - and then they respond accordingly.

AI chatbots can also pick out entities, like dates, and can tap into real-time data using API integration. And to make the conversations ever more meaningful, the bots are continually growing using Machine Learning.

Debt Collection Regulations and Data Security
 

 
How to go about Debt Collection

Conversational AI and Machine Learning Excel At Communication

To get the most out of conversational AI technology, you should focus on its strengths, namely, understanding human language and reading between the lines.

A propensity engine is taught using vast data sets to spot patterns and pick up sentiment within a context, so it can recognise what a person is really saying. The AI can also predict the outcome of a conversation and then route is down the best path.

For a more in-depth look at the Benefits of Conversational AI, download this guide.

How You Say it Means Everything with Conversational AI

What you say, when you say it and your choice of language is critical to having a positive response from a customer.

Rather than using command based texts, like “Click to pay”, use natural sounding language that communicates respect and empathy, for example, “Hi John, I see you missed your last payment. Why is that and is there something I can help you with?”

Conversational customer engagement is a skill that is well-worth mastering.

What is Debt Collection

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Customer Connections

The new conversation rules for Credit, Collections and Payments

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Convenient and Immediate Self-Service

Do More with Less and Gain Much

Taking a blended approach with AI automation and live agents allows you to have fewer calls but more conversations, which means your agents use their time more effectively on more complex cases. The AI chatbots can take care of over 70% of all customer conversations and can do so at scale without losing the personal touch.

When using conversational AI in debt collection, the metrics all go in the right directions: response rates go up, operational costs go down, agent handling times go down and collections go up.

Make Every Contact a Positive One

A customer’s experience when interacting with you will determine whether they do business with you again, so help them by making it easy for them. Such things as using their preferred digital massaging channel, being guided along the process or handed to an agent if needs be, all add up to a positive response.

Also, customers don’t like being controlled so give them options to resolving any issues. In the end, using conversational AI for customer engagement makes a huge difference to the impression you leave and how well the customer journey ends.

Excel with automated debt collection workflow and advanced functionality

Come experience the wonder of Webio

If you need advice on how to improve your customer engagement talk to us. You will love the Webio experience. We promise.

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METRICS WE’VE ACHIEVED

52%
Uplift in Payment Arrangements
42%
Increase in Agent Productivity
57%
Decrease in Operational Costs
48%
Increase in Customer Engagement

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