Background

Our client CG is among the 100 global banks with a total asset of $500 billion and has issued ~100M credit cards worldwide. CG is facing great operational challenge as its customer base skyrockets for consecutive years. (1) it has a huge call center with 10000+ agents to cover the ever-increasing demand of debt collection (2) a highly spiky demand profile that intrinsically lowers the operational efficiency.

Solution: Credit Card Debt Management (Debt Collection and daily operation)
Product: Voice AI- CALL
Begin Date: Mar 2020

Zhuiyi’s collection solution consists of 3 major parts:
1. Zhuiyi collection phone bot automatically calls debtors like a human agent to acknowledge debtors’ past-due situation, ask about the reason of delinquency and push debtors to repay in-time through multi-turn conversations up to 10+ rounds.
2. AI-based post-call analysis engine summarizes each debtor’s cause of delinquency (i.e. unemployment, illness) and classifies debtor’s wiliness to pay into three categories: “most likely”, “likely” and “not likely” for further intervention.
3. Visualized control dashboard provides call analytics with various metrics for better management and improvement.
Moreover, through the entire process, Zhuiyi solution experts work closely with CG to design call strategies & procedures (when to call, which cohort to call, whether sending human or bot for following up, etc.) and best-practice scripts and tactics to optimize collection outcome and supports CG team for a smooth and swift deployment.

Signature Features

1. A personalized collection process: Zhuiyi segments debtors based on multiple factors such as their delinquency level, credit history, prior call response etc. and applies 40+ different call scripts for different segmentations.
2. With proprietary AI technologies, Zhuiyi’s phone bot mimics human voice and talking patterns to sound real. The bot responds naturally to interruption, silence and repeat in the conversation.

Outcome

1. 700+ lines have been deployed and ~400K calls (~700K calls at peak) are launched daily. During the recent Covid-19 pandemic, Zhuiyi’s solution helps CG cope with severe human labor shortage.
2. In four months, Zhuiyi’s solution fully replaced CG’s legacy collection system previously provided by FICO and Improved promise-to-pay (PTP) rate by 125%.
3. Prevents 550K debtors per month from deteriorating to higher delinquency status that would require human agents to intervene.
4. The bot achieves 90%+ voice recognition accuracy rate and 95%+ intent recognition accuracy rate.
5. Out intelligent AI collection solution for CG is recognized by “The Asian Banker” as the “The most productive and efficient automation” in 2020 among all banks in China.

CG recognizes Zhuiyi’s value and has extend a suite of use cases including personal loan collection, credit card bill installment service, customer service, credit check service etc on Zhuiyi’s voice AI platform.