Chatbots in Debt Collections:Good for You Your Customers

Traditionally, chasing customer to collect a payment was a laborious task; endless dialling, letters and emails with the increasing number of attempts to try and get customers to simply talk to you was challenging enough, let alone getting them to pay. The rise of messaging and messaging apps has seen a significant shift in how consumers want to interact not only with their friends, but more importantly with companies. And this has been crucial shift for customer debt collections. The need to continuously chase and endless calling to try and connect with customers about making a payment has gotten a lot easier. We are now living in a digital world and adopting a digital approach to debt collection and engaging with customers via digital conversations is becoming more and more mainstream.