Debt Collection Virtual Agent repository for Money2020 Hackathon
According to Business Insider, in 2018 the average American has a credit card debt balance of $5,700. Due to many debtors owning such a small amount of money, banks have an overload of low priority debtors. They often can waste time and money contacting these people so it is easier to use an automated system such as Virtual Agent. By freeing human agents to focus on high-value debt, this Virtual Assistant can help increase debt collection to all spectrums of low-value, yet high volume debt.