Debt is a growing problem for citizens and businesses. As household budgets continue to tighten and credit becomes easier to access through services such as Buy Now Pay Later, more and more people are sinking into debt.
The responsible role of businesses who set out to retrieve debt payments in today’s market is not to push their clients to a breaking point. However, debt can’t just be written off altogether. Brands need to find a way to present debtors with flexible payment plans, communicated using a channel that they are comfortable using.
We believe brands can only do this through the most intelligent applications of their customer data – deployed through AI. Call centers simply do not have the capacity to offer a personalized service to the thousands or millions of customers their businesses serve.
In this e-book, we will look at how societal attitudes and the meaning of debt is changing, analyze what recent legislation changes mean for your business, and break down the traditional debt collection user journey to reveal how friction can be removed from each step using ethical, proactive conversational AI.
