AsiaCollect Releases Flagship SmartAgent SaaS as Stand-Alone Product

AsiaCollect has recently announced a not-so-new SaaS (Software-as-a-Service) product in SmartAgent. Originally bundled with the rest of AsiaCollect’s offerings, SmartAgent will be offered by itself to help identify those who should be targeted for debt collections.

AsiaCollect founder and CEO Tomasz Borowski, said, “The FinTech industry in Emerging Asian markets is replete with some of the most groundbreaking innovations, where banks and digital lenders are continually reinventing faster, more convenient ways for people to obtain access to financing. Innovation in the region’s debt collection sector is less common and still quite basic. We believe we can help change this through SmartAgent whereby lenders have access to highly-automated, predictive tools that enable them to recover debt more efficiently.”

Whether or not this will usher in a new wave of AI powered collection products is unclear. Debt collection is generally a manually controlled function, mainly because of the individual situations that influence debt from person to person. The inclusion of machine learning takes away the human element involved with this portion of finances.

The SmartAgent series features:

• SmartAgent Basic

A fundamental customer relationship management (CRM) system that acts as a first step towards automating debt collections. This SaaS solution is suitable for small-scale digital lenders and collection agencies with up to five call center operators.

• SmartAgent Lite

A step-up from Basic; includes proprietary automated dialer technology and the ability to interact with borrower through a combination of channels such as SMSes, emails, social media, and IVR. Interactions can be viewed real-time on a single dashboard. This version is suitable for medium-size digital lenders and collection agencies with five to 15 call center operators.

• SmartAgent Optimise

Lenders can customise interaction strategies according to borrower’s profile, and type and size of loan. This version is suitable for banks and financial institutions with 15 to 1,000 call center operators.

• SmartAgent Augment / Intel

A cutting-edge, AI-driven debt management system that incorporates behavioural psychology to analyse the psychological and emotional state of a borrower during a call/SMS/email and determine the best method for debt recovery. 24×7 chatbots are also offered to answer borrowers’ queries.