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Kotak Mahindra Bank has deployed a secure, Do It Yourself Digital Repayment Platform for missed loan repayments, in a tie-up with Creditas Solutions.
“Powered by artificial intelligence and machine learning, the ‘Neo Collections’ platform delivers a personalised and non-intrusive experience thereby enabling customers to manage their dues seamlessly on their own through an intuitive repayment platform,” it said in a statement on Wednesday.
Using data analytics to target the right customer segments, the ‘Neo Collections’ platform creates hyper-personalised scenarios to connect with each customer, it further said. By clicking on the link received, customers will be directed to the platform that provides them with a consolidated view of their entire relationship with the bank and enables repayment of outstanding dues through a variety of payment modes, it added.
Also read: Kotak Mahindra Bank launches emergency personal loans for Covid treatment
“The main purpose behind deploying a DIY digital repayment platform was to make repayments for outstanding loans more convenient for our customers,” said Ambuj Chandna, President, Consumer Assets, Kotak Mahindra Bank.
Anshuman Panwar, Co-founder of Creditas Solutions said the platform is intuitive, using contextualised and optimised customer interactions, allowing Kotak to drive intelligent customer engagement for superior collections success at lower cost.
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