The software provider Collenda, headquartered in Meerbusch, now offers its customers credit and receivables management solutions based on artificial intelligence. The financial services expert Collenda is one of the first European provider in this segment to apply the new technology. KI offers users automation and cost reduction potentials, improves at the same time the risk control of the granting of credit and increases the effectiveness in the demand management.

Collenda’s new solution suite uses Artificial Intelligence in various fields of application. In the future, the new technology will make it possible to segment debtors. This is based on the analysis of around 300,000 data records that were used to teach the system. With this pre-segmentation of debtors into five different groups, banks and SMEs can address their clients more specifically. In addition, different measures are taken depending on the segment. In this way, the system recognizes whether open installments arise due to overlooked invoices or whether there are serious payment difficulties. Accordingly, targeted measures can be taken.

If a loan or a receivable is in arrears, Artificial Intelligence also helps with restructuring. Based on historical experience, the ideal rate and the best possible payment horizon can be determined. Collenda CEO Christian U. Haas emphasizes: “AI is an important tool in the restructuring of loans. The adjustment significantly improves the recovery rate for companies. Ultimately, the debtor also benefits from this.”

The user experience in connection with own financing will also change significantly. In the future, chatbots will play a central role in answering inquiries. Inquiries via the customer portal will initially be answered by an AI-based bot. Bots will gather information or relieve the employee of simple queries, and even a negotiation to restructure a financing could take place via bot. If desired, however, an employee can always join in. “Thanks to the technology, round-the-clock availability is guaranteed. Simple questions are answered immediately without waiting. Another advantage that should not be underestimated is that the debtor feels less ashamed of an algorithm and every question can be asked. The bot also helps with payment problems and a possible restructuring of the loan,” says Collenda CEO Christian U. Haas.