India’s banks and lenders have gone digital, deploying AI-powered bots and virtual agents to track down loan defaulters, automate reminders, and dramatically improve debt recovery rates. This marks a major shift in how overdue loans are managed, impacting customers, lenders, and the entire financial ecosystem. What’s Changed? The Rise of AI Avatars Banks and NBFCs now use AI-generated avatars , often dressed smartly as lawyers, to make video calls or send personalized reminders to borrowers who have missed repayments. These bots interact with customers firmly but politely, nudging them to pay, without crossing lines sometimes breached by human agents. AI systems work around the clock, reaching more people much faster than humans. Where a traditional recovery agent managed about 250 cases/month, an AI agent can handle up to 5,000, at 40–60% lower costs. How Does AI Boost Recovery? Predictive Analytics: AI spots at-risk borrowers by analyzing payment, credit, and even b...
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