Insights / Case Study
Insights / Case Study
Like others in the banking and financial services industry, this client was looking to enhance its collections operations—more especially, its Amount Collected and Spent: Collected ratios.
As a valued client for nearly a decade, this banking company already benefited from the human side of Concentrix with over 500 collections advisors, but was looking to extend the technology side of the relationship to help it reduce costs, increase efficiency, enhance personalization, and improve customer satisfaction with collections.
Concentrix designed and deployed a conversational AI bot on the client’s network to revolutionize early-phase collections through automation, personalization, and real-time engagement. This AI-powered solution:
This intelligent digital assistant bridged the gap between human empathy and automation efficiency, creating a seamless, scalable collections process that merged customer-facing automation with human talent.
Not only is the conversational AI bot capable of generating promises to pay across various sectors, including credit cards, auto loans, personal loans, and home loans, but it further ensures collection automation by handling payment dates and modes.
The solution has been called a “raving success” by the client, with customers expressing high satisfaction with the outcomes delivered by the voice bot.
150,000 additional calls handled without increasing the number of advisors (an efficiency gain that would otherwise require a 60% increase in human resources)
6% of calls were live transferred to human advisors, ensuring personalized support for complex cases and dispute resolution.
$4.45M+ in direct PTPs in the first month, reflecting improved automation stability and sustainable performance
7% improvement in resolution rates, demonstrating voice bot effectiveness in resolving cases without human intervention
