Debt recovery can be a challenging process for both organizations and customers. Organizations often face difficulties collecting debts, while customers may struggle with the burden of high-interest rates and the need to repay their debts. During debt collection, many accounts fall in the category of delinquency. These accounts need to be dealt with a structured plan to recover debts. Lenders…

Debt collection can be challenging, especially when dealing with write-offs. A write-off refers to a situation where a lender determines that a debt is uncollectible and removes it from their record as a loss. It means that the creditor has given up on attempting to collect the amount owed and has decided to take a financial loss rather than continue…

We all know how fussy it is to get money from people, even when it is yours. Debt collection is never easy; it is even more tiresome with daunting manual procedures and cumbersome documentation. However, with the advent of technology, debt collection can be digitalized and made more convenient. With Rezo’s Collection product, debt collection is now considerably more effective…

Debt collection is a critical process for businesses and financial institutions worldwide. However, traditional debt collection methods are often ineffective and time-consuming, resulting in low collection rates. This is where Rezo's AI-driven debt collection product comes in, offering a more efficient solution for early delinquent customers. By leveraging advanced algorithms and machine learning models, the collection product can analyze customer…

Debt collection is a challenging and time-consuming task for NBFCs.There are many reasons why borrowers don't make payments on time, from forgetfulness to financial constraints at the time to intentional payment failures. Each of these causes needs the creation of a unique consumer journey and a different manner of customer communication. To extract payment from such people, organisations have to…

Nowadays, many companies are switching to modern contact centers enabling AI-bots for lead generation, outbound calling, customer services, timely reminders and payments and many such use cases. Because of  rising competition, unpredictable customer behavior, and declining brand loyalty, companies are finding it increasingly difficult to attract and retain customers In addition to providing excellent customer service at all times, one…

Google has announced that it will phase out the usage of third-party cookies in Chrome by the end of 2024, joining a growing list of browsers that have discarded the dreaded tracking technique.  Soon when cookies will be out of the picture, you will need a new tactic to track down user behaviour to keep your marketing game on. You…

If we say AI is the future, that is undoubtedly not an understatement. AI is making digital life easier and more convenient. Conversational AI has been getting much attention in the IT world for years and shows no signs of abating. According to recent statistics, the conversational AI sector's net value was $40.9 million in 2018 and is expected to…

Chatbots are the future of all virtual interactions. They have grown in popularity as a way of communication between businesses and their customers. The Global Chatbot Market was valued at $2.6 billion in 2019 and is increasing at a compound annual growth rate of 29.7% and is expected to reach $9.4 billion in 2024.  Chatbots are mainly used in customer…

Using AI in your day-to-day business tasks can yield exponential results. Conversational AI chatbots and voice bots can increase the efficiency and effectiveness of CX errands. AI has the power to provide customer and agent analytics to improvise and analyse business tasks and their growth. Comparing parameters is a common approach for making quick decisions, as it helps to identify…