High unemployment rates of the post-pandemic era in many recovering regions and increasing inflation rates are signaling an economic recession. With the pressure of increasing energy prices on consumer cash flow and households in many advanced economies facing a cost of living crisis, collections managers know it’s time to transform their capabilities to make their operations more agile and resilient to maintain, if not to improve, the collections performance.
In order to process customer 360 data, you need strong data ingestion, orchestration and aggregation capability. To be able to apply machine learning models with the consideration of responsible and ethical AI, your technology should cover the entire model development and governance process integrating with other applications. You can only develop new payment relief programs and rapidly deploy them in operations with a flexible strategy management tool. To be able to monitor the performance of the granular segmentation and treatment strategies in detail, you need a good data visualization and reporting capability.
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