A Promising Startup Trying To Change The Way You Can Repay Debt

Those days are long gone when phone calls, chasing up for late payments were the only way for the lenders to get their money back. It was not just tiring for the lenders but even quite difficult for the borrowers as well. It was mentally quite frustrating, but there were no other options left. Debt is not ever associated with anything positive. But, there is one company, which is trying hard to take some level of the difficulty out from the repaying task for sure. Here, you are going to learn more about Credit Clear, which is often termed as a global payments technology company. The main aim of this firm is to help companies like telco or utility providers to collect some late payments from the customers and avoid going into any kind of a mess.

Some promising features involved:

Using some of the features like time-based incentives, auto-translate, multiple payment options, and even some payment plan engines, this global payment technology company helps in delivering that debt solution, which is believed to be what customers are actually eyeing for. Is this your first time, trying to learn more about this firm and the technology it uses? If so, then get along with debt consolidation reviews and learn more about not just this firm, but some other competitors and their advancements too.

  • In this current marketplace right now, there are multiple SMS providers, who might send you an SMS saying that it is overdue. So, they will ask you to give them a call or log in for making a payment successfully. But, the noted system over here will go beyond that, according to the managing director of the firm.
  • It has further been well-discussed that the company has developed a sophisticated form of AI system, which will profile every customer thoroughly using some of the data like postcode or age, to name a few, or all of them together.
  • This software knows by all the users, who might have used the system, that the perfect time to communicate with the members might be around 2 pm on any Tuesday. After learning about the perfect time, the software is going to check on the best format, designed to work on the late payment through SMS.
  • Depending on the age group, their communicating channels are going to differ. For example, if you are associated with the older demographics, then it might be associated with the email. On the other hand, if you are younger, it might easily state that the member can communicate you through FB messenger, where youngsters are always super active.

Some extra advancement straight from AI:

If you think that the points noted already are what you are going to get from the source only, then think again! This AI mechanism is all set to work its heart out and deal with so many variations like changing the tone of the message, depending on the age. The older generation will most likely to addressed as madam or sir, and then you have the younger generation, which might get a message starting with a hi or hello.

In terms with the experience, customers are going to feel services which are no doubt seamless. Let’s take an example for better understanding. Whenever you receive any SMS, the customer gets the chance to click the link and then will be presented with available forms of payment plan or a payment options. The product from this source is also going to be white labeled to make it all clear where the payment is subject to go.

Learning more about the technology:

The AI technology from this source is able to detect the primary language automatically, which otherwise the customer uses on phone. Then you have the default language, which the phone might have to set to and then sending a message in that specified language. It is currently going to be set up with the major 24 languages, which the company states, will cover around 96% of the entire population.

  • It is definitely going to be a huge shift right from the status quo in such a way, which will help people to communicate about these payments and match with the arrears at any stage of the debt cycle.
  • The traditional approach of the SMS which you fail to take any action, or even worse, phone calls while you are working next to any colleague, or at home with your partner beside you might be stated as some of the inconvenient timing. The software is well-aware of that and won’t disturb you during those instances.
  • This firm is known to deliver messages, which will happily allow you to address it whenever and how you plan to do so. The entire control will be in your hand.
  • You do not have to speak to anyone over the phone and you can further work out any possible payment plan, which might work for yourself at time and place, which is stated to be workable.

Now for the payment options:

The payment options of this service will include some of the standard ones like Visa, MasterCard, and PayPal, followed by Apple Pay, Alipay, Andriod Pay and even WeChat Pay.

  • Customers even have the right to just repay through a payment plan, through which they can actually set directly the plans straight from SMS.
  • Payment plans are mainly tailored to each one of the companies with a pair of minimum and maximum terms set for each one. However, the customers can always set own plans within the allowable limits for sure.
  • With the help of this comprehensive credit reported made mandatory, this field of on-time repayments will become quite important and might affect the credit score directly.

The main aim of this company and its technology is to pander to shift in human behavior. With the millennial, they would not like to have such conversations by voice. They are just engaging with a smartphone and this firm has already started the journey before anyone else.

Author Bio

Marina Thomas is a marketing and communication expert. She also serves as a content developer with many years of experience. She helps clients in long-term wealth plans. She has previously covered an extensive range of topics in her posts, including business debt consolidation and start-ups.

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