Intelligent Environments, the software development company that provides financial services organisations with the ability to transform their digital customer experiences, todaylaunched the latest iteration of Interact® Collect – a solution that finally rewires the debt recovery and reconciliation process for the digital world.
Interact Collect is a digital-first approach to consumer debt collection.
Not only does it offer a non-confrontational and highly collaborative solution for managing debt, but it is also proven to reduce call centre costs by enabling customer self-service, and to increase collections performance by allowing customers to make payments at any time of day.
Launched at FinovateEurope 2018, the completely revamped solution leverages:
Secure Notifications – contact via Push Notifications, SMS, email, and Facebook Messenger, with imminent support for WhatsApp’s new service that verifies business accounts.
Chatbot style functionality – taking a conversational approach, aimed at delivering a humane and motivational experience.
Emerging payment technology – including support for Apple Pay and card scan.
Open Banking APIs – enabling end users to automatically feed their transaction data into an Income & Expenditure review, providing them with an instant summary of what they can afford to pay into a debt repayment plan each month.
“Intelligent Environments continues to reduce the friction of managing debt, taking the collections and recoveries processes into the digital age” comments Simon Cadbury, Director of Strategy at Intelligent Environments.
“Interact Collect is perfect for any organisation that would benefit from enhancing their receivables process. It is suitable for both consumer and business debt”.
“The business case is hugely impressive. For example, undertaking an Income & Expenditure review over the phone takes, on average, 40 minutes. So, by moving this online and integrating it with Open Banking APIs, we are not only driving a huge saving in contact centre time but also offering a vastly superior customer experience”.