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3 platforms leveraging Generative AI to eliminate debt in USA

By Delisha Fernandes

July 03, 2023

  • AI Algorithms
  • AI Solutions
  • Credit Card
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DebtDebt management has become a significant concern for individuals and companies in the USA. Whether it’s credit card debt, or mortgages, managing and reducing debt can be a complex and overwhelming. Fortunately, the emergence of generative Artificial Intelligence (AI) companies has offered a new wave of innovative solutions to address this pervasive issue.

Generative AI, a field within artificial intelligence, emphasises developing computer systems to produce new ideas or solutions based on existing data and patterns. In debt management, generative AI systems can analyse vast amounts of data, provide personalised insights, and develop strategies to help individuals effectively manage and reduce their debt. Utilising advanced algorithms and machine learning techniques, generative AI companies have revolutionised how debt management is approached in the USA.

Here are 3 platforms leveraging Generative AI to eliminate debt in USA:

TrueAccord provides businesses with superior debt collection results. The company’s machine learning platform adapts to consumer behavior with personalised and empathetic communications to deliver the right payment option at the right time and channel. TrueAccord works with top financial institutions, enterprise companies and upcoming businesses to recover billions in lost revenue.

Skit.ai is a conversational voice AI solution provider in the ARM industry, empowering collection agencies to streamline and accelerate revenue recovery. By automating a million debt collection calls per week, Skit.ai is empowering debt collection agencies across the US with automated, intelligent, and effective consumer conversations at scale. Leveraging proprietary technology and in-depth domain expertise, the Voice AI solution can solve all the core challenges faced by debt collection agencies.

Tally is a consumer tech company providing full-service financial automation. Founded in 2015, it built the first automated debt manager to help individuals overcome credit card debt and put billions of dollars back in people’s pockets. Tally has launched ‘Tally Advisor’ a robo-advisor for credit card debt. Tally Advisor analyses spending habits and provides payment recommendations on how to get out of debt faster.

Also read: Global Lending Vendors & Landscape Report Q1 2024

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