We increase repayment rates and customer satisfaction simultaneously through intelligent use of AI and behavioral science.
Our clients, Creditreform and PAIR Finance, wanted to increase the repayment rate and reduce costs at the same time – without negatively impacting the relationship with the debtor. Nobel Prize-winning approaches from behavioral science, cognitive science, and artificial intelligence were used in this project.
We used cutting-edge methods from machine learning and conducted interviews to identify and analyze customer groups to understand the reasons for why bills are not being paid.
With the help of the artificial intelligence we have developed, we were able to predict the behavior of individual customers with high precision at the time when the file is first created.
Based on the latest insights from behavioral science, we developed individualized interaction and detailed communication strategies which are tailored to the situation of the individual debtor.
With this approach, we have achieved the following with our reference customers Creditreform and PAIR Finance:
– Increased the repayment rate from 49% to 63%
– Reduced costs at the same time
– Increased customer satisfaction
Do you also want to increase repayment rates and customer satisfaction while reducing costs? Contact us today: good.decisions@simplyrational.de
