Citizens Bank leverages CollectEdge to modernize its collection processes and ensure better risk segmentation
SAN FRANCISCO, April 8, 2019 /PRNewswire/ -- EdgeVerve Systems, a subsidiary of Infosys (INFY), today announced the launch of CollectEdge at LendIt Fintech USA 2019. CollectEdge is an Artificial Intelligence powered product designed to help lending organizations reduce delinquency rates, boost recoveries, improve operational efficiencies and enhance customer experience.
With native AI and advanced machine learning capabilities, CollectEdge redefines collections by improving the accuracy of risk segmentation models and appropriate collection strategies. An over the top data driven application, CollectEdge generates accurate predictions and suggestions to help automate decision making and alleviate bottlenecks in business processes. Some of the benefits offered by CollectEdge are reduced charge-offs, real-time decision making and optimized collections outreach, resulting in tangible business outcomes.
Julie Signorille, Executive Vice President and Consumer Banking Chief Operating Officer, Citizens Bank, said, "Citizens Bank makes continuous investments in innovation to improve end-to-end customer experience, from origination to servicing and collections. In partnership with EdgeVerve Systems, we are modernizing our collection processes with real-time insights into delinquency rates, better risk segmentations and customized contact & calling strategies."
Atul Soneja, Senior Vice President and Global Head - EdgeVerve and NIA, said, "CollectEdge brings true digital disruption to the collections function by balancing risk mitigation and enhancing customer experience. Harnessing the power of 'explainable AI', CollectEdge is a plug and play product that makes the adoption of artificial intelligence easy for the lender and offers faster time to value. I am confident that the product will reduce provision liabilities and also enhance the customer experience."
About EdgeVerve Systems Ltd.
EdgeVerve Systems, a wholly owned subsidiary of Infosys, develops innovative software products and offers them on premise or as cloud-hosted business platforms. Our products help businesses develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. We power our clients' growth in rapidly evolving areas like banking, interactive commerce, distributive trade, customer service and enterprise buying and help them navigate their digital journey with our AI enabled Automation and Business Solutions.
At EdgeVerve, we are making constant strides towards transforming enterprises by providing AI enabled Business Applications, leveraging the Infosys Nia™ Platform with capabilities across the Automation continuum. Today EdgeVerve products are used by global corporations across financial services, insurance, retail and CPG, life sciences, manufacturing and telecom.
Finacle, our industry-leading digital banking solution suite is the choice of financial institutions across 100 countries to service more than a billion consumers and 1.3 billion accounts.
To know more, visit www.edgeverve.com
Infosys is a global leader in next-generation digital services and consulting. We enable clients in 45 countries to navigate their digital transformation. With over three decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.
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