With increasing debt, rising delinquencies, new legislations, and evolving customer expectations, traditional methods such as arbitrary calling are struggling to drive collections. Technologies like AI can lead to a more cohesive, customer-centric collections process for building loyal customers and increasing productivity. Adoption of AI coupled with strategic changes can optimize collections.

By reducing unproductive agent time, partially automating transactions, streamlining early response processes, and creating a more detailed and personalised approach to customers, lenders and collectors can boost collections.