An exciting use-case of how the collections are handled intelligently using data!

After analysing the bank statements, the Lender knows the salary date of a person is the 7th of every month.

The customer has chosen the 3rd of every month as the EMI date for whatever reason.

As usual, the EMI bounces every 3rd.

In a traditional setup, the Lender would say, “Oh, the NACH is bounced. Let me call the customer.” This gives the customer a pathetic experience and is expensive for the Lender.

On the other hand, in the digital lending setup, the loan management system has seen:

1) For the past 3 months, the customer couldn’t pay on the 3rd, and he paid himself by the 7th.
2) The system can suggest, can we change the EMI date to the 7th or 10th to give the customer a better experience or send him a reminder message a little early to solve this issue.

So, data plays a significant role in taking the right decisions.

#digitallending #manispeaksmoney

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