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Debt Manager’s chatbot addresses the needs of organizations and consumers

Chatbots are a given today for any customer-facing business.

For companies – especially banks and utilities – they reduce operational costs and inefficiencies and can easily resolve complaints. For agents, they manage the mundane tasks and free up staff to focus on more complex interactions.

Customers like chatbots because they provide quick replies to simple questions, they’re available 24/7, and they improve the customer experience. What’s more, customers in 2022 expect a chatbot to pop up and help them. Only if the virtual assistant can’t provide the right level of support will they then speak to a human agent.

When it comes to collections, customers who might feel embarrassed by their predicament often prefer to engage with a chatbot to help them resolve their situation. Agents, too, will have more time to dedicate to supporting vulnerable customers because the chatbot takes care of the more menial tasks, like ID verification.

With that in mind, Debt Manager’s AI-powered virtual assistant Cara is the self-service chatbot solution that’s fully automated and configurable for collections. Cara – which stands for “collections and recovery assistant” – has eight built-in intends and more than 570 conversation flow boxes, meaning she can easily verify ID, help customers make payments, update demographics, present offers to customers, and create a payment plan. For example, Cara can securely provide a payment link for the desired balance.

“This new automated channel Cara is addressing the need that organizations have to treat their customers fairly and provide self-service options,” says Chris Hopkins, Senior Director of Product Management at C&R Software. “Banks and other organizations are there to meet the demands of consumers, otherwise consumers will go elsewhere.”

In the longer-term, integrating Cara into Debt Manager is beneficial because it can increase collection rates, automate business processes, predict customer behavior, and further streamline the customer experience.


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