Collections

Conversational AI Self-Service for Debt Collection

Approximately 30 million Americans have at least one debt in collections

AI-powered virtual agents work in everyone’s favor by taking the load off live agents and allowing customers to feel empowered in their collections experience.

Whether it’s leaving a voicemail or negotiating payment arrangements, minimum one-time payment, or payment in full, SmartAction’s virtual agents handle both outbound and inbound collections to decrease collections overhead while remaining TCPA compliant.

Outbound Reach

Proactively remind customers of payments and provide them with the option to pay in voice or text link.

Capabilities:

Assist with balance inquiries such as outstanding balance, upcoming due date, and last payment made
Make a one-time payment, negotiate payment installments, or ask for bill extensions
Set up auto-pay
Offer incentives for customers to make payments (e.g., waive the late fee) like live agents

Inbound Collections

Allow customers to handle collections best suited for their financial situation.

Capabilities:

Assist with balance inquiries such as outstanding balance, upcoming due date, and last payment made
Make a one-time payment, negotiate payment installments, or ask for bill extensions
Set up auto-pay
Offer incentives for customers to make payments (e.g., waive the late fee) like live agents

Conversational Collections Powered by AI

Debt recovery isn’t as simple as collecting money owed. It requires customer autonomy for the best customer experience. No financial situation is the same, and negotiation is often necessary to recuperate unpaid balances.

SmartAction’s conversational AI uses natural language processing (NLP) to tell the customer who is collecting and how much is owed before accepting payment via credit card or ACH bank transfer. Our natural language understanding (NLU) engine is tailored with every interaction possible specific to debt recovery, allowing our virtual agents to handle each call in the same manner a live agent, while alleviating the negative feelings customers might experience with a human during an uncomfortable process.