Case Study: a large multinational bank boosts collections performance with EXL Paymentor

a large multinational bank boosts collections 600 bps with EXL

EXL helped a large multinational bank overcome challenges in its B2C collections operations. The bank was facing a high volume of delinquencies with costly and ineffective processes that relied heavily on manual calling. Its one-size-fits-all communication approach led to low customer engagement and the infrastructure lacked the ability to scale or measure performance effectively.

Using its EXL Paymentor solution, EXL implemented an AI-powered digital collections strategy. The solution used machine learning to create customer personas and self-learning algorithms to determine the optimal channel, time, and content for personalized communications. This resulted in a 600 bps higher payment rate, annual savings of $6M, and significantly faster collections. EXL also improved the customer experience by enabling digital engagement through two-way SMS and WhatsApp, which saw a major increase in response rates.