EdgeVerve Launches CollectEdge to Help Banks Redefine Collection Predictability and Customer Experience using AI

EdgeVerve Systems, a subsidiary of Infosys, announced the launch of CollectEdge at LendIt Fintech USA 2019. CollectEdge is an Artificial Intelligence powered product designed to help lending organizations reduce delinquency rates, boost recoveries, improve operational efficiencies and enhance customer experience.

With native AI and advanced machine learning capabilities, CollectEdge redefines collections by improving the accuracy of risk segmentation models and appropriate collection strategies. And over the top data driven application, CollectEdge generates accurate predictions and suggestions to help automate decision making and alleviate bottlenecks in business processes. Some of the benefits offered by CollectEdge are reduced charge-offs, real-time decision making and optimized collections outreach, resulting in tangible business outcomes.

Julie Signorille, Executive Vice President and Consumer Banking Chief Operating Officer, Citizens Bank, said, “Citizens Bank makes continuous investments in innovation to improve end-to-end customer experience, from origination to servicing and collections. In partnership with EdgeVerve Systems, we are modernizing our collection processes with real-time insights into delinquency rates, better risk segmentation and customized contact & calling strategies.”

Atul Soneja, Senior Vice President and Global Head – EdgeVerve and NIA, said, “CollectEdge brings true digital disruption to the collections function by balancing risk mitigation and enhancing customer experience. Harnessing the power of ‘explainable AI’, CollectEdge is a plug and play product that makes the adoption of artificial intelligence easy for the lender and offers a faster time to value. I am confident that the product will reduce provision liabilities and also enhance the customer experience.”