Machine learning is a field of computer science dedicated to giving computers the ability to make decisions that they have not been explicitly programmed to do. By integrating machine learning into digital debt collection strategies, collection agencies are able to automatically adapt to customer behaviors like opening emails or clicking links as well as determining how those behaviors are related to how likely they will resolve their debts.
TrueAccord’s artificial intelligence, Heartbeat, can select from hundreds of internally generated, legally approved messages that drive consumer engagement via omni-channel delivery; this includes email and push notifications to their mobile device. Once content is delivered, Heartbeat is able to track real-time events such as opening emails, clicking links, and browsing the TrueAccord website to best determine the next step in our communications process.
Machine learning systems allow customers to inform digital debt collection agencies how they prefer to be communicated with, and the computer program is able to provide that customer with a tailored experience they cannot find anywhere else.