Case Study: a major consumer finance retailer reduces collections calls with BizAcuity's AI-powered risk scoring solution

a major consumer finance retailer cuts collections calls to 26% while covering 65% of debt with BizAcuity

The customer, Canada’s largest consumer finance retailer, faced a challenge in its debt collections process. Its practice of calling every customer before a loan's due date annoyed reliable clients and led to representatives avoiding calls, which hurt company revenue. BizAcuity was engaged to develop a new AI-driven solution.

BizAcuity implemented a solution that used machine learning to analyze customer history and loan data to assign a "Risk Score" to each loan. This allowed the client to focus its efforts on higher-risk accounts. The results were significant: by calling just 26% of customers, the client was able to cover 65% of the default risk. This improved customer experience, freed up agent time for sales, and optimized cash flow, contributing to top-line growth.