30/09/2021 Banking Innovation


Intelli-Collect is an AI powered Intelligent Collection system comprising of Contactless Connect & Digital Collect strategies, supported by a bouquet of non-intrusive communication channels, for effective management and resolution of large volumes of customers in Pre & Early Delinquency Management, arresting incremental NPA along with reduced cost of collection.

Innovation presentation

Onset of 2020 was marked by widespread disruption caused by COVID-19, which resulted in lockdowns & curtailed movements and brought everything to a near standstill - from people, to businesses, to the entire socio-economic architecture of nations.

Key challenges visualized in these times of widespread restraints were:

- Zero OR Limited mobility: Initial phase of Pandemic necessitated Social Distancing thus it became paramount to stay connected with the customers remotely to understand their need and support them.

- Impact on Velocity and Coverage: It was clear that the pandemic would create mega-disruption in regular repayment behaviour of Retail & Rural Loan customer base, especially that of our Reach market customers (Tier 3, 4 & beyond cities).

- Capacity building: Disruption of socio-economic activities meant a rapidly increasing book in the foreseeable future with larger base of customers falling into delinquency. Reaching these customers at the right time to arrest future delinquencies was paramount, however a tele-connect with all, required huge set-ups involving large gestational period.

- Colossal Cost of collection: To cater to this soon-to-be expanding delinquent pool, cost involved - human as well as infrastructural, at setting up bigger contact centres / channels would have been gigantic and thus restrictive in reach for larger portfolios.

Thus, on war-footing, Intelli-Collect was designed and developed which addressed all the above challenges and then some. This solution involved integration of data, advanced analytics and digital technology that not only predicts the customer behaviour but also helps in reaching the right set of customers through right channels at the right time with an effective communication, and yet offers far better cost optimization in these trying times.

To build this Solution, Bank leveraged on Machine Learning (ML) for identifying the right segment along with developing Omni-channel platform powered with Artificial Intelligence algorithms. The model involves integration of data, advanced analytics and digital technology and helps predict customer behaviour as well as design and affect communication in line with the same. This cohesive work-plan transformed into Intelli-Collect which is used extensively for managing early delinquencies in Credit Card & Retail Loan products. Some of the salient features of Intelli-Collect are listed below:

- Intelligent Segmentation: Data Science & Analytics team of the Bank uses XGBoost algorithms in Machine Learning with Internal Risk variables, Bureau information, Market risk, Digital Savviness & Payment behaviour of customers etc. to generate micro-segments with propensity score. Customers with High propensity to pay digitally are considered as best segment to be managed through Intelli-Collect.

- Intelligent Connect: Intelligent Omni-channel Campaigns are designed with a cluster of non-intrusive communication channels such as Interactive IVR, Visual Voice Bot, Smart and trackable SMS, Hyper-personalized Emails, iMobile Notifications, Whatsapp Engagements etc. An extensive library of layered communications is created along with IVR, Voice Bot & SMS crafted in 13 Indian (11 vernacular) languages for ease to connect & communicate.

- Intelligent Execution: Intelligent AI powered Omni-channel platform empowers to connect with these select segments through non-intrusive communication channels with a well-designed First Time Resolution (FTR) strategy. Algorithms designed on platform intelligently use different contact windows spread across the day with different levels of intensity built to create the necessity to pay on time. Effective use of Communication Library equipped with layered and vernacular communication is done methodically to ensure right set of customers are reached at the right time using right communication.

- Intelligent Collection: Digital and Instant payment solutions like UPI, BBPS, Payment gateways, iMobile are facilitated for on-the-fly payment, aiding in enhanced digital payments, thereby helping in faster and assured collection at a much lesser cost.

- Intelligent Evolution: Customer responses in the previous campaigns are analysed and fed in Machine Learning based customer segmentation model. This reverse feed and adaptability of ML model helps sharpen the customer identification algorithms & subsequent reach thus increasing contact-ability & improving efficiency of the campaign, with every data input in the model.

Through Integrated campaigns, the customer is also routed to a Do-It-Yourself portal, which is a Virtual Debt Manager aiding customers manage their delinquent relationships on their own. The platform offers digital modes of repayment along with details about the different asset relationships that a customer holds with the Bank.

Uniqueness of the project

Intelli-Collect is a Collectech Solution – a Technology enabled Collection solution. Regardless of the presence of innumerable Omni-channel communication solutions in the market, Intelli-Collect

is perhaps the only solution that intelligently decides treatment of select segments with preferred Omni-channel communication, communicates in the most fitting language, facilitates collection through digital & instant payments and re-calibrates its subsequent connect approaches, basis Machine Learning enabled reverse feed analysing capabilities.

Below are few key components of Intelli-Collect that further fortify our claims of it being a Unique and innovative Intelligent solution:

- Evolution in every interaction: Unlike a lot of stand-alone communication systems, Intelli-Collect is an intelligent Omni-Channel platform which keeps evolving through every customer interaction as a result of the result feed received and analysed through Machine Learning.

- 100% Automated: In comparison with a traditional Call Centre which is manpower dependent and hence operates for only fixed hours, Intelli-Collect is fully automated and can function round-the-clock.

- Instant Scalability: As opposed to a traditional system where the gestation period to upgrade/ downgrade for any spike in volumes may run across weeks - even months at time, the instant Scalability available with Intelli-Collect helps being in step with ad-hoc organizational needs. Further the campaigns are customizable and can be tweaked as per the product requirements.

- Campaign modification on-the-Go: Intelli-Collect as a system offers immense flexibility to design digital engagement campaigns basis Collection requirement and MLT suggestions. It hosts a series of customizable libraries of Calling Script, Voice Bytes, IVR script, SMS content, Email content in multiple languages & templates thus ensuring modifications in shortest timeframe.

- Cost Saving: Intelli-Collect operates at 1/5th of the cost of a typical Call Centre thereby proving to be a formidable Cost Saving Solution when it comes to managing gigantic volumes.

- Promoting self-reliance: Routing customers to Do-It-Yourself portal enables self-sufficiency as well as educates the customer to be more Credit aware. Here, Loan and Credit Card customers can view their account status as well as pay their dues. The solution is progressive and envisaged to offer range of options to customers such as access to Bureau Report, Score Simulator, offers on existing and new Credit facilities, converting balances to instalments etc.

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