Credit management firm Intrum UK has launched a collections chatbot, which uses artificial intelligence (AI) to aid customers in their repayments.
The technology is being piloted in Intrum’s UK and Norwegian businesses before it is deployed more widely.
The system was created by Norwegian fintech developer Boost AI and can answer more than 730 questions posed by customers, signposting debt advice, mental health support, self-service payment options and human customer support.
In the first three months of use in Norway, the chatbot conducted 15,900 live chats and was able to answer 90 percent of the 47,500 questions received, Intrum said.
All chatbot activities are monitored through Intrum’s dashboard, which will be used to adjust and further develop the technology to meet customer needs.
In future, Intrum says, the chatbot will be able to answer customer-specific questions on accounts, such as current balance and next payment date.
The company added that the provision of the service allows its customer support representatives to focus on more complex cases such as those involving customers in vulnerable circumstances.
Intrum UK managing director Eddie Nott said: “Intrum UK is excited to be one of the first in the Intrum Group to implement artificially-intelligent chatbots.”
“Our existing call centre support and digital account management will be complimented by this technology.”