Oriserve

Category: Banking (Debt Collection)

  • Voice AI in EMI & Loan Collections

    Loan collections are the backbone of every lending business: missed follow-ups slam revenue, burn agent morale, and can turn even good borrowers into chronic defaulters. But let’s cut the drama. In India’s insanely competitive lending space, even a delay of 1 day per EMI can snowball into losses running into crores. That’s why BFSI leaders are tuning out old-school call centers and switching on Voice AI for collections. Here’s the no-jargon, all-action breakdown.

    What is Collections? A Quick Refresher

    Collections mean contacting borrowers about overdue EMIs or loan repayments, spearheading timely recovery to minimize bad debts and maintain healthy cash flow. Traditionally, this meant armies of agents making manual calls, juggling hundreds of borrower responses, chasing payments, and navigating complex rules, all taxing both time and resources.

    Why Traditional Collections Are Breaking Down

    Let’s be honest, manual collections just aren’t cutting it anymore. Banks and NBFCs are pouring money into call centers, but the results aren’t matching the spend. Here’s why the old way is struggling big time:

    • Costs Are Out of Control: Paying agents, managing call centers, and training staff eats up a big chunk of what you actually collect. For every ₹100 recovered, ₹15-20 goes straight to overheads, with contact rates often below 30%, limiting your reach.
    • Limited Calling Power: One agent can only make about 80–100 calls a day. When you’ve got thousands of accounts to chase, that creates a serious bottleneck, especially when actual connection rates hover around 25-35%.
    • Language Roadblocks: India’s many languages and dialects are tough to handle if your team isn’t fluent. Borrowers ignore calls when they don’t feel understood.
    • Annoyed Borrowers: Ever had those calls that just repeat the same thing? Borrowers feel the same frustration, leading to hang-ups and lost chances for repayment. Manual calls can see abandonment rates as high as 40%.
    • Compliance Headaches: RBI rules keep changing, and it’s easy to mess up scripts or miss recording calls. That could mean penalties or even legal trouble.
    • Wrong Info = Lost Trust: Old or wrong data means borrowers get calls about payments they’ve already made or wrong amounts building confusion and disputes instead of payments.

    Put simply, the manual, agent-heavy way costs a lot, slows you down, and doesn’t really work well for the borrower, making it a tough place to compete in today’s fast digital world.

    Enter Voice AI: Your Collections Gamechanger

    Voice AI is swapping tired call centers for smart, friendly conversations. These AI-powered bots talk like real people. They switch languages, understand responses, and handle tricky questions without breaking a sweat.

    The result? You get way more calls done, a single Voice AI bot can manage over 10,000 calls a day; costs drop sharply, and borrowers actually feel heard, not hassled. Plus, it keeps everything RBI-compliant without extra effort. Simply put, Voice AI is turning collections from a headache into a smooth operation.

    What Voice AI Brings to the Table: Core Benefits

    Voice AI is more than just automated calling: it’s a collections powerhouse. Here’s what it really does for your EMI recovery:

    • Scales Effortlessly: Calls thousands of borrowers every day, without breaks or burnout.
    • Cuts Costs Big Time: Slashes your collection costs by up to 60%, often reducing the average call handling time by around 30-40%, thus enabling your team to focus on high-value cases.
    • Boosts On-Time Payments: Personalized, timely reminders mean more borrowers pay EMIs when they should, typically 28% more.
    • Stays RBI-Ready: Every call follows strict scripts, records conversations, and logs all interactions for audits, no compliance guesswork.
    • Improves Borrower Experience: Natural, local-language conversations that borrowers actually want to engage with, reducing hang-ups and complaints.
    • Smart Escalation: Handles the easy stuff, and transfers tough or disputed calls to agents with full context, saving time and frustration for all.

    Voice AI isn’t just a tool: it’s your secret weapon to faster, cheaper, and smarter collections.

    Step-by-Step Voice AI Collections: How It Actually Works

    Voice AI runs a smooth, effective collections process from start to finish, not just automated calls. Here’s how it plays out:

    1. Connect and Segment

    Voice AI syncs with your loan management system to pull up-to-date borrower info: EMI amounts in INR, due dates, payment history, and contact preferences. It segments borrowers by risk and overdue duration to tailor its approach.

    2. Launch Smart Campaigns

    The AI voicebot reaches out at ideal times in the borrower’s preferred language, delivering personalized reminders and payment options; no boring, one-size-fits-all scripts.

    3. Listen, Understand, and Respond

    Advanced language understanding lets the bot grasp questions, objections, or concerns naturally. It can handle common disputes on the spot: clarifying charges or payment confusion without needing an agent every time. Voice AI typically reduces call handling time by 30-40% while improving promise-to-pay (PTP) conversion rates by around 25-30%.

    4. Capture Promises and Schedule Follow-ups

    When borrowers commit to pay later, the AI logs ‘Promise to Pay’ (PTP) with timestamps and schedules callback reminders automatically.

    5. Seamless Escalation for Complex Cases

    If the dispute is serious or the borrower needs personalized help, the bot instantly transfers the call to a human agent, passing along full context so the borrower doesn’t have to repeat themselves. Escalation rates usually remain between 10-15%, balancing efficiency with support.

    6. Monitor, Analyze, and Improve

    Real-time dashboards track critical KPIs like contact rates, PTPs, and escalation patterns. These insights feed continuous AI learning, optimizing call scripts and campaign effectiveness over time.

    Sample Call Flow: Voice AI in Indian EMI Collections

    Context:
    This is an automated collection call from ABC Finance to a borrower, Mr. Rajesh Kumar, who has an overdue EMI on his personal loan. The Voice AI bot confirms identity by name initially, informs about the overdue payment, handles borrower objections with empathy, makes multiple attempts to convince payment today, respects customer’s request to avoid disturbance, and finally collects a firm payment date within the next three days. The bot also offers a payment link and escalates queries to a human agent if needed.

    Conversation:
    Voicebot: “Hello, am I speaking with Mr. Rajesh Kumar?”
    Borrower: “Yes, speaking.”
    Voicebot: “Thank you, Mr. Kumar. This is an automated call from ABC Finance regarding your overdue loan EMI.”
    Voicebot: “Our records show that your EMI of ₹10,200 was due on the 15th of September. Could you please let us know if you will be able to make the payment today?”
    Borrower: “I’m a bit short on money this month, so I won’t be able to pay today.”
    Voicebot: “I understand, Mr. Kumar. Making the payment today could help you avoid additional late fees and keep your credit history clean. Is there any way you can make even a partial payment today?”
    Borrower: “No, really can’t. I have other urgent expenses.”
    Voicebot: “I get that unexpected expenses come up, but every EMI payment helps you stay on track and avoid complications. Would you consider paying today to prevent extra charges?”
    Borrower: “Honestly, I can’t. Please don’t keep calling me repeatedly; it’s very disturbing. I promise to pay soon.”
    Voicebot: “I respect that, Mr. Kumar. I don’t want to disturb you unnecessarily. Can you please tell me a convenient date within the next three days when you can clear this EMI?”
    Borrower: “Alright, I think I can manage by the 20th of September.”
    Voicebot: “Thank you for the commitment. I have scheduled a reminder call for the 20th and will also send a payment link to your registered mobile number to make the process easier for you.”
    Borrower: “Okay, thank you.”
    Voicebot: “Before we end, do you have any questions about your loan or EMI payments I can help with?”
    Borrower: “No, that’s all.”
    Voicebot: “Thank you for your time. Have a good day, Mr. Kumar.”

    Key KPIs BFSI Leaders Should Track

    Tracking the right metrics is crucial to make sure your Voice AI collections are delivering real results. Here are the key performance indicators every BFSI leader should keep an eye on:

    • Right Party Contact Rate (RPC): % of calls connecting with the actual borrower, which typically ranges from 25-35%, but Voice AI can boost this above 40% with smarter dialing.
    • Promise to Pay (PTP) Rate: % of borrowers committing to payment on the call, with Voice AI improving this rate by up to 30%.
    • First Call Resolution (FCR): % of calls resolved without needing escalation.
    • Escalation Rate: % of calls transferred to human agents for complex issues, usually ranging between 10-15%.
    • Recovery Rate Improvement: Increase in repayments or NPA reduction post Voice AI deployment; some clients report NPA reductions of up to 20%.
    • Call Abandonment Rate: % of calls disconnected before completion, which should ideally be below 5%.
    • Average Handle Time (AHT): Time spent per call including escalations, typically reduced by around 30-40%.
    • Callback Compliance: % of promises-to-pay callbacks made on schedule.

    By closely monitoring these KPIs, you can fine-tune your Voice AI campaigns, identify bottlenecks, and maximize collections while maintaining strong borrower relationships.

    Why Oriserve? Your Collections Partner

    When it comes to Voice AI in collections, Oriserve stands out and here’s why BFSI leaders trust us:

    • Deep BFSI Expertise: Built specifically for the Indian lending ecosystem, our solutions understand your unique challenges, from regulatory compliance to vernacular language diversity.
    • RBI-Ready Compliance: We bake compliance into every call with up-to-date scripts, real-time logging, and audit trails, so you never have to worry about penalties.
    • Human + AI Harmony: Our Voice AI handles routine calls smartly, while seamlessly handing off complex or disputed cases to live agents, ensuring your borrowers always get the right support.
    • Scalable & Flexible: Whether you have 1,000 overdue accounts or 1 million, Oriserve scales effortlessly without ballooning costs or complexity.
    • Proven Impact: BFSI leaders partnering with Oriserve see up to 60% savings in collection costs and a 28% boost in on-time EMI payments, all while improving borrower satisfaction.
    • Simple Integration: Our platform plugs easily into your existing loan and CRM systems, so you’re up and running fast with minimal IT hassle.

    Oriserve isn’t just a vendor: it’s your partner in transforming collections from a cost center into a growth engine.

    FAQs

    Q: Can Voice AI handle Indian languages and dialects?
    A: Yes. Advanced Voice AI supports multiple Indian languages such as Hindi, Tamil, Telugu, Marathi, Kannada, etc. and can switch dialects mid-call to ensure comfortable, natural conversations with borrowers.

    Q: How does Voice AI ensure RBI compliance for collections calls?
    A: Calls adhere strictly to RBI-mandated scripts, including disclosures. Every call is recorded, securely logged, and opt-out management is fully automated, ensuring you stay audit-ready and penalty-free.

    Q: What is Right Party Contact (RPC) and how does Voice AI improve it?
    A: RPC is the percentage of calls that reach the actual borrower, not dead or wrong numbers. Voice AI uses intelligent dialing and call timing algorithms to maximize RPC, improving collection efficiency significantly.

    Q: Can the Voice AI bot handle disputes raised by borrowers?
    A: Yes, the bot is capable of managing many common disputes by clarifying charges or providing relevant information in real time. For complex or unresolved disputes, calls are escalated smoothly to human agents with full context.

    Q: Is borrower data secure with Voice AI platforms?
    A: Absolutely. Data is encrypted end-to-end, stored in ISO and PCI DSS-compliant environments, and access is governed strictly in line with Indian data privacy regulations.

    Q: Can Voice AI truly increase repayment rates?
    A: Definitely. Personalized, timely, and multilingual Voice AI reminders have raised on-time payments by 25-30% on average, by reaching borrowers in a friendly, convenient way and offering easy payment options.

    Q: How are promises-to-pay (PTP) tracked and managed?
    A: Every borrower commitment is accurately logged with timestamped entries on real-time dashboards, enabling proactive follow-ups and improved collection outcomes.

    Q: Will borrowers accept calls from bots without feeling bothered?
    A: Yes, when bots speak naturally, respect preferred call times, and escalate gently to human agents when needed, borrower frustration is minimized and engagement improves.

    Conclusion

    Loan collections don’t have to be painful. Voice AI makes them faster, cheaper, and more borrower-friendly; helping BFSI leaders recover more with less hassle and full RBI compliance.

    Ready to transform your collections and boost repayments? Book a demo with Oriserve today and see how smart automation can power your success.

  • Breaking Language Barriers in Indian Banking: How Conversational AI Drives Financial Inclusion

     Introduction

    The Vernacular Banking Revolution:

    India’s banking landscape has transformed dramatically over the past decade. With 470+ million people entering the formal banking system since 2014 (World Bank), financial inclusion has made tremendous strides. However, a significant challenge remains: the language barrier. 

    Approximately 88% of Indians prefer to communicate in regional languages (KPMG Language Report), creating a disconnect between banking services and the very people they aim to serve.

    This disconnect is particularly pronounced in rural India, where studies show that 60% of customers struggle with English-dominated banking interfaces (RBI Financial Inclusion Survey 2022). For these users, traditional banking apps and IVR systems remain largely inaccessible, limiting their ability to fully participate in the digital economy.

    The Triple Challenge of Indian Financial Communication

    India’s linguistic diversity presents three distinct challenges for the financial sector:

    • Linguistic Fragmentation: With 22 official languages and over 19,500 dialects (Census 2011), creating standardized communication systems has been nearly impossible until now.
    • Digital Literacy Gaps: Many first-time banking users in Tier 3 and rural areas rely heavily on voice interfaces rather than text.
    • Regulatory Compliance: Financial institutions must maintain audit trails of all customer interactions while adhering to strict data protection requirements—across multiple languages.

    Conversational AI: The Bridge Between Banks and Bharat

    Modern AI-powered voice systems are revolutionizing how financial institutions connect with India’s diverse population. Unlike traditional solutions, today’s conversational AI platforms excel in three critical areas:

    1. Sub-Second Latency: Real-Time Banking in Real Indian Languages

    The technical challenge of processing vernacular speech, understanding intent, and delivering responses within milliseconds represents a significant breakthrough. Sub-1 second latency is transforming customer experiences across multiple banking interactions. 

    • Instant Balance Inquiries: Farmers checking crop loan balances before market purchases
    • Real-Time Fraud Alerts: Immediate notifications in the customer’s native language when suspicious transactions occur
    • Instant Account Verification: KYC processes completed through voice confirmation

    The impact of this speed goes beyond convenience. Research indicates that when response times exceed 3 seconds, customer abandonment rates increase by 38% (Digital Banking Report 2023). By reducing latency to under one second, banks are seeing 73% higher satisfaction rates in rural areas where network connectivity often fluctuates.

    2. Accent-Agnostic Speech Recognition: Understanding India’s Linguistic Tapestry

    Traditional speech recognition systems typically fail when confronted with India’s rich tapestry of accents and dialectal variations. 

    Consider these common banking scenarios:

    Regional Variations:

    A Rajasthani customer saying “खाते में कितना पैसा है?” (How much money is in my account?)

    A Tamil speaker asking the same question with distinctly different phonetic patterns

    A Bengali customer mixing English banking terms with Bengali syntax

    Advanced AI models now recognize these variations with remarkable accuracy. Using deep learning algorithms trained on millions of hours of Indian speech samples, these systems achieve 95%+ recognition accuracy across 50+ regional accents (NASSCOM AI Adoption Report 2023).

    This capability extends to challenging environments like:

    • Rural weekly markets with significant background noise
    • Crowded urban banking centers
    • Poor network connectivity areas where audio quality suffers

    The technology also excels at processing “code-mixed” speech—the uniquely Indian practice of blending multiple languages in a single sentence, such as “Mera savings account mein kitna balance hai?” This represents a significant advancement over legacy systems that required customers to speak in a single, standardized language.

    3. Humanized Voice Responses: The Power of Localized Communication

    The final—and perhaps most impactful—element is the use of humanized, culturally appropriate voice responses. Voice assistants that speak in local accents with culturally relevant phrases create an immediate sense of familiarity and trust.

    Research indicates that banking customers are 40% more likely to complete transactions when interacting with voice systems that match their regional dialect (Financial Technology Research 2023). This effect is particularly pronounced among:

    • Elderly customers uncomfortable with digital interfaces
    • First-time banking users from rural areas
    • Customers conducting complex financial transactions

    Financial institutions are now developing voice personalities that incorporate:

    • Regional idioms and expressions: Using phrases like “धन्यवाद, आपका काम हो गया है” instead of formal “Transaction complete”
    • Cultural nuances: Adjusting formality levels based on customer age and transaction type
    • Contextual awareness: Recognizing festive seasons for relevant greetings and offers

    Implementation Challenges and Solutions

    While the benefits are clear, implementing vernacular AI in the banking sector presents unique challenges:

    1. Regulatory Compliance

    India’s financial sector is heavily regulated, with strict requirements for data security, customer privacy, and transaction records. AI systems must maintain comprehensive audit trails while protecting sensitive information.

    Modern solutions address this through:

    1. End-to-end encryption of voice data
    • Automatic PII (Personally Identifiable Information)
    1. Data Security Concerns

    Voice data is inherently personal and requires specialized protection measures. Advanced systems now employ:

    1. Voice biometric verification that works across multiple languages
    • Fraud detection through speech pattern analysis
    • Encrypted storage of all voice interactions

    Technological Infrastructure

    Deploying low-latency voice systems across India’s varied infrastructure landscape requires innovative approaches:

    • Edge computing to minimize latency in areas with poor connectivity
    • Progressive downgrading of voice quality while maintaining functionality
    • Offline processing capabilities for essential banking functions

    The Future of Voice-First Banking in India

    The integration of advanced conversational AI in Indian banking represents more than a technological upgrade—it’s a fundamental shift in how financial services reach previously underserved populations.

    Looking ahead, we can expect developments like:

    • Multimodal interactions: Combining voice with visual elements for enhanced understanding
    • Predictive financial services: AI systems that anticipate customer needs based on voice patterns and transaction history. watch now
    • Cross-language financial literacy: Voice assistants that explain complex banking concepts in simplified local languages

    Conclusion: 

    Voice as the Great Equalizer

    As India continues its digital transformation, vernacular voice technology stands as perhaps the most important tool for truly inclusive banking. By eliminating language barriers through sub-second responses, accent-agnostic understanding, and culturally appropriate communication, conversational AI is finally making banking accessible to all Indians—regardless of language, education level, or technical literacy.

    For financial institutions looking to expand their presence across Bharat, investing in vernacular voice capabilities isn’t just good technology strategy—it’s essential business strategy in a nation where the next 500 million banking customers will primarily speak in languages other than English.

  • 6 Vital Features Every Gen-AI Powered Collection Solution Needs for Effective Collections

    6 Vital Features Every Gen-AI Powered Collection Solution Needs for Effective Collections

    Much is at stake in the debt collections industry in 2025. With debt levels continuing to climb, delinquencies on the rise, and a global recession on the minds of many, it’s easy to see why today could be both the best and worst time for collections. Adding to this, there are increasing regulatory, and security concerns along with heightened expectations from customers. 

    Yet, one of the main reasons for the collections industry struggling today is its slow adoption of technological advancements, particularly AI and ML. While many claim to leverage AI, few know how to truly implement it to meet their specific business needs. This lack of understanding prevents companies from seeing real results at scale.

    In today’s blog, we’ll highlight the six key features every Generative AI (Gen AI) agent needs to drive effective debt collections.

    But, Will Automation Really Work in Debt Collections?

    Automated debt collection refers to the process of using technology—specifically AI, to evaluate and categorize potential customers or debtors based on predefined criteria without heavy manual intervention. In the context of debt collection, this means assessing the likelihood of successful collection from a lead, prioritizing cases based on these assessments, and responding accordingly.

    Traditional, manual processes are often slow, inconsistent across different channels, and lack the empathy required in collections, leading to poor customer interactions and an increase in delinquency. An ineffective collection system results in cases being handled improperly, leading to a negative customer experience and possible churn.

    This is where Gen AI-powered agents come in. These agents can quickly assess the severity of the situation with minimal human input, offering consistency and improving efficiency. By automating lead collections, even collection agencies can improve their chances of success while maintaining empathy and accuracy, which are crucial in this industry.

    6 Must-have Features for Your Gen-AI Powered Collections Agent

    For any debt collection solution to succeed, there are six essential features that a Gen-AI agent must possess:

    A visual representation of six key attributes that contribute to a Gen-AI agent's success in collections.

    1. Powered by Generative AI:

    With Gen AI capabilities your customers can now engage with an automated system that speaks in natural, human-like language, making conversations feel more authentic and personal. In contrast to traditional systems that often communicate in robotic, monotone responses Gen AI-powered agents adapt to each customer’s unique context, crafting personalized interactions that are more engaging.

    This means that instead of generic responses, the AI agent delivers responses that resonate with the debtor. By doing so, it not only drives better engagement but also increases the chances of successful debt collection. Personalized responses can address specific concerns, making customers feel heard and valued.

    2. Goal-Oriented Conversations:

    Effective debt collection involves more than just communication; it’s about steering the conversation toward a specific outcome. AI agents with goal-oriented capabilities are designed to do just that. Whether it’s resolving a payment dispute, addressing customer concerns, or reducing churn, these AI agents guide conversations to meet predefined objectives.

    This approach helps ensure that conversations stay productive and focused, ultimately leading to higher retention rates and reduced delinquency. Goal-oriented conversations help to resolve issues more efficiently, contributing to better qualification of leads.

    3. Emotional Intelligence:

    Debt collection is a delicate process, and interacting with customers—especially in complex sensitive situations requires a certain level of empathy. AI agents equipped with emotional intelligence can understand and respond appropriately to the emotional tone of a conversation. 

    By recognizing emotions such as frustration or anxiety, the AI agent can modify its approach to be more empathetic. This not only builds stronger relationships with customers but also fosters loyalty and increases the likelihood of positive outcomes in collections. In an industry where emotions often run high, this feature is a game-changer.

    4. Contextual Awareness:

    One of the most critical aspects of effective communication in debt collection is understanding context. AI agents that are contextually aware can leverage a debtor’s past interactions and current status to craft more relevant responses. 

    For example, if a customer has previously requested more time to pay, the AI agent will take that into account when following up. This level of contextual awareness leads to more personalized, meaningful interactions that resonate with the customer, improving engagement and ultimately driving more accurate lead qualification.

    5. Multilingual Flexibility:

    The debt collection industry deals with a wide range of customers, many of whom speak different languages. AI agents with multilingual capabilities can seamlessly switch between languages and regional dialects, ensuring inclusivity and accessibility for all. 

    This flexibility enhances the reach of your collections solution, enabling agents to communicate effectively with diverse demographics. In regions with linguistic diversity, multilingual AI can be the key to improving engagement and ensuring no opportunities are missed due to language barriers.

    6. Easy Integration with Existing Systems:

    The ability to integrate seamlessly with existing systems like CRM, ERP, and other enterprise applications is essential for any AI-powered solution. AI agents that can pull data from these systems in real-time ensure that they are working with the most up-to-date information, making it easier to qualify leads accurately.

    When integration is smooth, AI agents can take over tasks like following up on overdue payments or sending out reminders without the need for manual input. This reduces human error, saves time, and ensures the collection process remains efficient and effective.

    Why do Businesses Need to Invest in Gen-AI Powered Collection Solutions?

    Adopting Generative AI in debt collection is no longer optional—it’s essential if you want to keep up with your competitors. Businesses that fail to leverage AI risk falling behind in terms of customer engagement, lead qualification, and overall revenue generation. AI agents not only streamline the collection process but also improve the quality of customer interactions, leading to higher retention and satisfaction.

    If you’re ready to see how our AI-powered agents can help you boost collection rates, and drive operational efficiency, schedule a free demo with our experts today.

  • How Gen AI-powered Conversations Can Improve Your Collections

    How Gen AI-powered Conversations Can Improve Your Collections

    The debt collection industry is full of challenges. Complexities like customer outreach and the stigma of debt collection create many inefficiencies. Limited resources, traditional approach, and a tough engagement ecosystem make collections even harder.

    Imagine your customer forgot to pay your credit card bill and it’s now overdue. Suddenly, he’s bombarded with calls and texts. This doesn’t just annoy him- it might make him avoid paying altogether or even cancel your card. This approach clearly isn’t working for anyone.

    However, advancements in Gen AI-powered Voice and Chat Assistants are changing the game. With Emotional Intelligence, Multimodal outreach, and full regulatory compliance, these solutions are transforming collections. In this blog, we’ll explore how Conversational AI can turn these challenges into opportunities for businesses making collections not just easier but more effective.

    But, What Are the Challenges Collection Industry Faces?

    An image depicting six major challenges faced by the collection industry, emphasizing the complexities and hurdles within the field.

    #1 Customer’s Dislike of Debt Collectors:

    Let’s face it – debt collectors have long had a negative reputation. Customers often associate them with aggressive tactics, impersonal interactions, and a complete disregard for their financial struggles.

    In India, household debt reached a staggering US$ 671 billion in 2024. As consumers rely more on credit, negative interactions only further alienate them, reinforcing the need for a more empathetic approach.

    AI Voice Assistants enable empathetic, personalized, and strategic engagement, ensuring that your interactions are never perceived as spammy or disrespectful.

    By fostering a sense of understanding and collaboration, you can turn your customer’s resistance into cooperation.

    #2 Expanding Beyond Traditional Channels of Approach:

    It’s 2025, and limiting your outreach to traditional channels like phone calls, e-mails, and messages can severely affect your collection efforts. Customers expect to be met on their preferred platforms, whether that’s text messages, calls, social media, or even in-app messaging.

    Ori’s AI Assistants offer omnichannel and multimodal interaction, seamlessly engaging with customers across their preferred channels and leveraging their data to ensure a seamless, cross-channel experience.

    #3 Slow Adoption of Newer Technology:

    Pie chart illustrating consumer loan delinquency rates in India, highlighting trends and statistics over recent years.

    The collection industry often lags in adopting new technology, leading to inefficiencies and customer frustration.

    This is critical when consumer loans, for example, saw an increase in delinquency from 1.83% in 2022 to 2.5% in 2023. Similarly, business loan delinquencies have crossed the 4% threshold, signaling growing financial strain.

    Gen AI Agents can change that. By automating tasks like payment reminders, your human agents can focus on complex cases, improving overall efficiency. Ori’s Gen AI solutions streamline operations, reduce errors, and boost your bottom line, making your collection process more effective.

    #4 Incompetence of Human Agents:

    Even your top agents can have off days, missing details, or lacking the right tone in sensitive conversations. These errors can lead to lost opportunities and strained customer relations.

    Given that credit card defaults in India are rising day by day, the margin for communication error is small. It’s crucial to get every conversation right. Ori’s AI Voice Assistants enhance, but don’t replace, your human agents. Plus, Ori’s Speech Analytics helps your agents continuously improve performance, ensuring every conversation is spot-on. Think of it as having a co-pilot, guiding your agents to make the best decisions in real-time.

    #5 Retaining Trust in Sensitive Conversations:

    Retaining trust in debt-related conversations is challenging, but crucial. 

    Ori’s AI, with its Emotional Intelligence, helps you maintain a firm yet empathetic approach. Because engaging during collection isn’t just about collecting debt; it’s about creating a relationship where customers feel understood. By fostering trust, you’re more likely to achieve successful outcomes, making the process beneficial for both sides.

    #6 Streamlining Settlements & Reducing Customer Visits:

    Field visits are expensive and often ineffective. It’s time to rethink your approach to settlements.

    Gen AI Agents can engage with your customers empathetically and offer flexible payment solutions, reducing the need for in-person visits. Ori’s AI solutions are tailored to minimize settlements and reduce costly field visits. With consistent, supportive communication, you can streamline the process and make it easier for your customers too.

    The Future of Debt Collection is Here

    In 2025, old, inefficient methods are obsolete—Gen AI-powered Conversational AI has become essential.

    These advanced solutions improve collections, boost customer engagement, and streamline operations, making the process more efficient. With consumer and business delinquencies rising, and credit card default rates climbing, it’s time to act. And Ori’s solutions offer everything you need. Schedule a demo with our experts today and discover how we can help you reduce delinquencies in no time.