Do you know CAI? - You should
Artificial Intelligence (AI) has been an integral part of everyday life for many years, and it's possible that we often don't even realize it.
With AI, we have the opportunity to use artificial intelligence for a wide range of services that surround us, from writing texts to solving and calculating very complex problems. It's all based on the material that the system has been fed.
At Collectia, as a debt collection company with over 150 years of experience in debt collection, we are among the leaders in the use and utilization of artificial intelligence. This has a number of benefits for you as a customer, as well as debtors who have an outstanding debt with us.
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What is CAI?
Collectia is in many ways a traditional debt collection company that performs all the classic actions and options within debt collection. This includes sending letters, calling the debtor, scheduling interest and fees, and using the enforcement court if necessary. The execution of debt collection is therefore in many ways a craft based on experience of what works best.
CAI stands for Collectia Artificial Intelligence, which is our artificial intelligence algorithm. CAI builds on our more than 150 years of experience in debt collection and helps to support and underpin our daily debt collection work. CAI contains a large dataset on debtors, case sizes, industry conditions, case types, behavioral patterns and much more. CAI guides each case in the right direction and can jump between steps and actions in the process of your debt collection case if it is assessed that it can lead to a faster recovery.
The benefits of our artificial intelligence
For many debt collection companies and debt collection lawyers, debt collection is a process consisting of a fixed framework and predefined steps such as first and second reminders, collection notices and so on. At Collectia, however, the approach to debt collection is more data-driven.
We don't believe in treating debt collection cases identically. Our experience clearly shows that no two debt collection cases are the same, and so does our approach. CAI, or artificial intelligence, supports and helps us with this approach in our daily work.
The benefits of CAI are many. You will often find that your cases are handled differently; some cases will require many steps, while others will require fewer. This is based on what we and CAI believe is most efficient for your case.
Can AI take over debt collection?
AI is undoubtedly here to stay, making work easier and more efficient for us, our customers(creditors) and debtors. But can AI completely take over debt collection?
At this point in time, the debt collection process at Collectia is not based on AI alone. Debt collection is first and foremost about people and their financial circumstances. There are many factors that need to be taken into account before debt collection can be put 100% on autopilot with AI.
Debt collection consists of a wide range of personal issues and considerations that need to be assessed and addressed. In these areas, AI is not yet on par.
With Collectia, you get a balanced ratio of 150 years of experience and strong artificial intelligence.
Personal dialog and powerful digital tools - the perfect duo
Collectia is more than just a debt collection company with extensive experience in the debt collection industry. We see ourselves as a modern IT company with our own developers and case managers. Although we are an IT company that utilizes innovative digital solutions to streamline the collection process, we are a company where our employees and the human interaction with debtors are in focus. Our skilled employees are the most important resource at Collectia. They have direct contact with our debtors, making sure to deliver a fair and respectful experience to people who are in debt. Our digital assets help and support our employees to deliver just that - the perfect duo in our view.
This approach to debt collection and a massive data set gives our customers a powerful, digital and efficient product. It not only utilizes artificial intelligence, but also offers an easy and clear platform to create, track and close debt collection cases.
Want to learn more about our work with big data and artificial intelligence?
Are you curious about how Collectia uses AI in debt collection management? Don't hesitate to contact us today.