Recontact: Revolutionizing Debt-Collection with AI
Overview
Recontact is an innovative AI tool that focuses on streamlining and enhancing the debt-collection process. It offers a cost-effective solution by automating various aspects, making it up to 90% cheaper compared to traditional methods. It has been put to the test by analyzing over 100,000 calls for top banks.
Core Features
- Automated Violation Detection: The tool can automatically detect process and critical errors from calls, such as "abuse detection". This helps in ensuring compliance and maintaining high standards in the debt-collection process.
- Agent Performance Tracking: Recontact's AI collates data from thousands of customer calls to provide a clear understanding of agent performance. This enables managers to identify areas for improvement and take appropriate actions.
- Call Analysis: Every call is analyzed thoroughly, and suggestions for improvement are provided for each agent. This detailed analysis helps in optimizing the overall performance of the debt-collection team.
- Predicting Borrower Behavior: Using AI, it sorts PTPs (presumably Payment to Principal) into High, Medium, and Low confidence levels to predict repayment likelihood. This allows for a more strategic approach to debt collection by optimizing the collection strategy accordingly.
- Efficient Search Function: With the ability to search across tens of thousands of recordings in seconds and across multiple languages, finding specific information within the vast amount of call data becomes a breeze.
Basic Usage
The process of using Recontact is straightforward. First, all calls are imported from your recording software like Exotel, Zoominfo, Dialpad, Kaleyra. Then, a call script and quality parameters for agents are defined. Finally, within minutes, the AI audits all the calls and presents searchable insights regarding agent behavior, compliance, and customers.
In comparison to existing debt-collection solutions, Recontact stands out with its advanced AI capabilities. While some traditional methods rely on manual reviews and basic analytics, Recontact offers a comprehensive and automated approach that saves time and resources while providing more accurate and actionable insights.
