New Delhi, May 20 (SocialNews.XYZ) Delhi-based Credgenics on Thursday formally unveiled a debt resolution platform which combines the power of artificial intelligence with data science to optimise and standardise the debt collection activities.
In a statement, the company said that it is an end-to-end SaaS-based collection management tool which delivers customised strategies and recommends optimal legal routes to facilitate faster resolution of stressed assets which helps creditors efficiently improve their NPA, geographic reach and customer on-boarding.
Rishabh Goel, Co-Founder & CEO, Credgenics, said that while AI and machine learning (ML) have been around for a while and applied in many areas, their power and ability to predict recovery chances based on multiple parameters including defaulters personality information, demographics, language, EMI payments and communication follow-up trends, has never been leveraged or deployed in a structured manner.
"Our proprietary model does that exactly and significantly reduces the debt collection cost making unit economics more viable for lenders. The new platform redefines the buckets basis recovery chance, delinquency days and different communication channels leading to increased collection and reduction of expected time to resolution," he said.
Source: IANS
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