The COVID-19 outbreak has disrupted life around the world, and we are yet to see how big the impact is on business and the economy. The pandemic places many challenges for banks when it comes to communicating with its debtors and borrowers. Financial institutions the world over are worried about an economic hibernation – borrowers preserving cashflows, influx of stimulus packages, slowdown in debtors’ payments, lending responsibly and ethical debt collection during this time of crisis.
Artificial Intelligence and Machine Learning has the ability to impact this industry in a big way and effectively transform and accelerate value in the current situation. Financial institutions are recognizing the benefits of cutting-edge tools in delivering personalized experiences to their customers, but delivering personalized customer experiences at scale is a challenge facing all organizations. However, from lead management to loan fulfillment and servicing, to collection and fraud detection, there are opportunities throughout the lending value chain that AI can help organizations with.
In this Efma-Edgeverve webinar, we will explore:
– How to responsibly lend and collect effectively without suffering from poor customer experience
– How to engage with customer debts the way that works best for them ensuring they feel less pressured in these unprecedented times
– Real life challenges in the current lead management process
– How FinXEdge can support you to benchmark your Covid 19 response by delivering the right assistance program by having the right customer risk segmentation in place
– How AI in general and FinXEdge can help make the processes more efficient and improve chances of conversion
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