collections and recoveries featured image

Summary

Any financial services organisation can use Rainbird’s intelligent automation platform to automate collections and recoveries decisioning. The platform helps them grow revenue and boost cost-efficiency, adding value and scalability to their operations.

Challenge 

Collections and recoveries are fast becoming a major pain point for many industries, including banking, insurance and utilities. The COVID pandemic has left organisations in many sectors facing significant challenges, and there is still much economic uncertainty. In the UK, for example, we are yet to see the full impact of the furlough scheme ending. 

Each decision is highly situational and requires skilled engagement, but must also be handled under extreme time pressure by small, remote teams. 

Solution

Rainbird enables organisations to create a view of a case, with an ordered set of automated decisions. Once a case is raised, Rainbird can look into multiple factors simultaneously, for example, key people, the reason and cause of the situation, future ability to drive revenue, and likely return or loss and recovery. This determines the best course of action or—should they not be in a position to repair—the best end state. 

Outcome

Rainbird provides the best outcome and service to customers, with a full set of best possible decisions for each situation. This can even lead to the identification of future revenue growth support, in turn extending the customer relationship.

Take your first step towards transforming your organisation with truly intelligent automation