Home Credit Philippines (HCPH), the leading consumer finance company in the country, continues to innovate as it taps artificial intelligence (AI) to improve its efficiency and customer experience in key areas, including the collection process and client communication.
Home Credit’s shift towards AI started during the pandemic, when collecting data became challenging due to restrictions. Now, they are reaping the benefits of changing with the times.
For instance, VoiceBot, an AI-powered system, improved HCPH’s capacity to connect with customers to manage routine inquiries and reminders during the pandemic and beyond.
Home Credit also boasts its proprietary AI tool for monitoring customer calls, transcribing conversations, and evaluating interactions, which provides effective and efficient feedback.
HCPH also uses machine learning to identify behavioral signals that may show potential missed payments up to eight days in advance and offer timely intervention to reduce delinquency.
“Our customers are our priority, and we provide them with support that is both seamless and efficient. AI empowers us to strengthen our communication channels, ensuring accurate and timely information reaches our customers,“ said Rahul Sharma, Head of Collections Tech, AI, and Delivery at HCPH.
Home Credit also has other AI-powered initiatives that aim to boost employee productivity and improve brand identity.