Bringing Conversational AI Into Collections
Convention & Expo 2021 Session: Friday, July 30, 2021 10:15 AM - 11:05 AM
Amidst skyrocketing call volumes and agent burnout, artificial intelligence (AI) has quickly become vital to collections agencies. In this session, Steve Kusic, CEO of leading accounts receivable management (ARM) company NRA Group, and Kirby Miller from conversational AI company Interactions, will unpack how NRA Group’s AI strategy can serve as a guide for today’s forward-thinking collections firms. For NRA Group, COVID-19 and the subsequent spike in consumer debt made one thing clear: they needed to think differently about how to run their contact centers. Last year, they took a big leap of faith. NRA Group introduced a customized, AI-powered virtual assistant to automate complex and sensitive customer calls. Its new virtual collection agent was uniquely poised to increase revenue recovery, reduce operational costs, and power efficient, secure, and judgment-free transactions. Because of the virtual agent’s human touch, it’s now driving dramatic improvements in efficiency and profitability. Steve Kusic and Kirby Miller had front-row seats to this digital transformation initiative, which has had significant implications for both agents and customers. In their session, Steve and Kirby will help collections executives gain a deep understanding of the factors involved in NRA Group’s decision, the ripple effects of their technology and the lessons learned along the way.