Most debt recovery activities are based on antiquated and obtrusive channels. These channels such as sending letters, calling repeatedly, home visits or providing basic customer portal with no dynamic interaction. spocto Trace provides the next generation of debt collection solutions. As bad loans grow & the urgency to improve collection mounts. Technology can be used to simplify the debt collection process, reduce consumer handling time & meet regulatory requirements so that penalties and legal action is minimized.
Collection practices must be optimized to minimize loss of accounts, delinquencies & charge-offs current debt collection landscape suggests that technology can become a major aid in improving collections.
Using technology can play a significant role in making the process faster, more accurate and deliver better outcomes. Analytics & automation helps to shift of focus from protecting the customer relationship to protecting assets & minimizing losses.
This digital communication method has been creating waves for both creditors & debt collectors and now is the time to start thinking about how to leverage new communications tools to contact your customer even in collections
spocto Trace makes debt collection approach more effective. Thus offering consumers a range of communication solutions thereby, increasing collections and response rates. Also customer satisfaction rate increases. Reduce operational cost & reach target recovery rates by deploying a digital collection solution while monitoring performance and control over customer communication.
spocto Trace has a fully automated system which uses behavioral analytics, Machine learning, Artificial Intelligence, & human approach to transform the historical antics. It is an automated platform which bridges the gap between the creditor & the debtor.
spocto Trace claims the technologies work to optimize the timing & method of communication with customers to get the best results. Consumers desire a more seamless & convenient way to resolve their debts without what is often felt like an uncomfortable exchange
Digital collections have proven its ability to reach those who have historically been a challenge to contact, therefore increasing recovery rates.
spocto Trace’s proprietary machine learning algorithm collates and curates social profiles linked with their email ids. In order to identify the individual’s public location, employment details, connections and more. The algorithm continually keeps a tab on data touch points to derive psychographic data on an individual persona. Thus, spocto skip traces the customers that were otherwise beyond your reach.