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Advances in artificial intelligence, like machine learning, have given debt recovery companies the opportunity to increase their collections up to 5-7% on a per account basis. This is done by using the specific debt recovery company’s historical transactional data to train an algorithm to score individual accounts on their probability to pay. This algorithm is then used to score each account on a nightly basis!

Think about the logic behind that approach: your company has invested tens, if not hundreds, of thousands of dollars to impact the behavior of individual consumers. You have trained agents making phone calls, you send emails and letters and you probably even spend quite a bit of money on credit bureau scores.

The one major piece of the puzzle that you are missing is taking those actions into consideration when you prepare your work priorities on a daily basis. In other words, you should be scoring your accounts probability to pay EVERY DAY because you are taking actions every day to increase the odds a consumer will pay.

That is where artificial intelligence comes to play in the form of machine learning. Our company, NLP Logix, is one of the fastest growing machine learning companies in the country and has over five years-experience delivering predictive modeling solutions to many industries, including the debt recovery business. RecovR.AI is the proprietary machine Learning platform designed for the debt recovery industry. RecovR.AI can decrease your credit bureau spend, and increase your collections per active account. NLP Logix, is one of the fastest growing machine learning companies in the country and has over five years-experience delivering predictive modeling solutions to many industries, including the debt recovery business. To help you get a clear understanding how a partnership can help increase your recoveries up to 5-7%, visit our website at www.nlplogix.com/debtscoring for more information.