This whitepaper explores how AI and machine learning can help lenders prevent delinquencies and improve collections recovery rates through personalized payment plans. It covers industry challenges and explains how personalization benefits borrowers and lenders alike.
Below are some of the topics we will cover:
In this paper, we'll review an analysis of our sample dataset demonstrating that aligning a borrower’s loan payment schedule around their payroll has a huge impact on collections success.
How collections teams are using cashflow analytics to personalize collections to:
A large consumer lender was looking to reduce defaults for new and existing users. Using Pave's Income Detection and Paycheck Prediction Model, they improved collections success by accurately detecting and predicting users' paydays to align payments accordingly.