Our debt collections solution is built on powerful machine learning technology, enabling you to make smarter choices regarding when, how and if to contact debtors. Seamlessly utilize multiple communication channels with a process that’s designed to optimize collection timing and improve collection rates, resulting in greater efficiency and lower collection costs.
Our platform combines your internal Accounts Receivable file and historical collection experiences with our comprehensive consumer database of over 250 million individuals at virtually every address in the country. Compiled from proprietary and public data sources, our data contains over 1,500 financial, demographic, and lifestyle attributes on each record.
Once your AR data is “enriched” with our attributes, the platform develops highly complex data algorithms to determine which consumers you should target for your debt collection efforts.
The Benefits of Using Machine Learning for Your Debt Collection Strategy
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» Identify Debtors Most Likely to Pay
» Optimize Efforts via AI-based methodologies
» Daily scoring & continuous improvement of models
» Scalable solution – simple or complex based on your existing collection practices and systems
Take the Guesswork Out of Collections
Stop relying on endless testing and/or intuitive approaches to increase collections. Take the guesswork out of your collection efforts and let data drive your strategies. Our powerful AI-based platform gives your business the roadmap it needs to successfully optimize your collection efforts.
Settle and Resolve Debts Faster
Our state-of-the-art technology allows companies to adjust their approach to debt collections based on true data findings. By analyzing which actions and events generate the highest success rates, these powerful machine learning models identify which debtors are most likely to pay off their debt and when.
Optimize Direct Mail Efforts
Stop wasting money chasing debtors who will never pay. Our platform tells you who should be mailed and, more importantly, who shouldn’t. Identifying customers most likely to respond to your “gentle reminders” yield highly profitable results. Alesco Data identifies debtors with greatest propensity to pay, with the goal of identifying 80%+ of collectable receivables within 20% of all debtors.
Optimize Call Schedules
What conditions make phone calls most effective when it comes to resolving debt collections? Questions like these are easily answered with our predictive models. We utilize current resolution data to generate models that predict when consumers are most likely to respond to your collection calls. Optimize your call schedule to improve efficiency and generate higher collection rates.
Decrease Reliance on Expensive Credit Data
Our machine learning platform utilizes public and proprietary third-party demographic data assets, allowing us to deliver a robust dataset upon which to build our models without having to rely on expensive credit bureau data.