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Making the Most of Your Collection Attempts – CFPB Rule

2022-07-22T18:40:51+00:00November 3rd, 2020|Categories: Automation, Collections, Machine Learning, Predictive Modeling|Tags: , , , , |

Make your attempts count - How Machine Learning models can help with the new CFPB rule The CFPB recently released a new rule that limits contact attempts to only 7 per week per consumer. Maintaining and improving Right Party Contact (RPC) rates is now more important than ever! This means that you not only have to call the right number, but you have to do it at the right time. The rule will have many agencies scrambling to figure out a way to make the most of their calling strategies to keep their collections rates from dropping. How will agencies ensure they [...]

Is there a better way to handle bad debt scoring?

2021-01-20T15:12:09+00:00October 21st, 2020|Categories: Artificial Intelligence, Collections, Machine Learning, Predictive Modeling|Tags: , , , , , |

Despite the current financial crisis, credit scores are soaring – Is there a better way to handle bad debt scoring? For many years, credit scores have been the primary tool used to prioritize bad debt accounts for the vast majority of collections agencies.  For the most part, a person’s credit score is a good indicator to determine if they are capable of paying back their debt.  But with advances in AI technology and with the average consumer credit score reaching new highs, (see WSJ article here) should agencies be looking at alternative ways to prioritize their accounts? In this article, we’ll compare traditional credit scores to machine learning models as a strategy [...]

Collection Scoring with AI/ML

2022-07-27T15:44:00+00:00October 9th, 2020|Categories: Artificial Intelligence, Collections, Machine Learning, Predictive Modeling|Tags: , , , |

Collection Scoring - How Healthcare Providers Can Use AI/ML for Optimal Results Debt collection is a costly, yet necessary undertaking for healthcare providers. To reduce costs, debt collection often gets outsourced to a third-party agency. However, handling accounts that are more likely to pay in-house can reduce outsourcing costs. To accurately identify these accounts, healthcare providers can leverage artificial intelligence (AI) for Collection Scoring. Why Healthcare Providers Should Use AI For Collection Scoring AI-based collection scoring models allow healthcare providers to accurately determine which accounts receivable to handle in-house and which to outsource to collection agencies. This results in: Increased debt collection rates, because collectors will [...]

NLP Logix Partners with Receivables Management Association International

2021-01-14T18:02:13+00:00December 12th, 2019|Categories: Artificial Intelligence, Automation, Case Studies, Collections, Machine Learning, Partnership, Press Releases|Tags: , , , , , , |

NLP Logix is proud to announce partnering with Receivables Management Association International (RMAI) through their membership program. This membership is an expression of our dedication to the receivables industry and to providing innovative technology to receivables management organizations.

NLP Logix Gains International Partner

2021-01-14T18:04:06+00:00November 12th, 2019|Categories: Collections, Machine Learning, Partnership, Press Releases|Tags: , , , |

By Ellen Schneider  – Reporter, Jacksonville Business JournalNov 12, 2019, 8:26am EST Jacksonville-based artificial intelligence and machine learning firm NLP Logix announced it recently landed a new international client for its debt collection software. NLP Logix will integrate Paypensity – a product that measures the probability that a consumer will pay a debt – into Australian-based debt recovery software company CreditSoft Solutions' operations. Paypensity does a better job of measuring who will pay versus who can pay, in the way that a credit score does, said Katie Bakewell, NLP Logix's lead statistician. It provides a more holistic analysis through a machine learning approach, she added. This allows agencies reviewing large amount of delinquent accounts to prioritize and [...]

NLP Logix and IC System Publish Results of Machine Learning Enabled Accounts Receivable Management Outcomes

2021-01-20T21:40:34+00:00November 8th, 2018|Categories: Artificial Intelligence, Automation, Collections, Machine Learning, Press Releases|Tags: , , , , |

Stellar Recovery Deploys Revolutionary Predictive Modeling Technology for Big Return on Investment

2021-01-14T18:24:53+00:00September 2nd, 2015|Categories: Analytics, Automation, Collections, Machine Learning, Predictive Modeling, Workflow|Tags: , , , , , , |

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