Best Debt Collection Technology for Customer Engagement
Below, we compare key customer engagement capabilities, including digital channels, automation, agent involvement, and customer experience considerations, to help you evaluate which approach best fits your collections strategy.
With the development of conversational AI for use in debt collection software, customer engagement technology for debt collection has advanced in leaps and bounds. Here we take a look at how conversational messaging compares with the more traditional dialer and email options.
→ For more, see: What Agent Performance Metrics Should you be Tracking?
| Category | Diallers | Conversational AI (WhatsApp,SMS) | WebChat | |
|---|---|---|---|---|
| Open Rate | Industry average 45% connection rate | 20% | 98% | 98% (Inbound only) |
| Response / Engagement Rate | Industry avg. 12.5% right party connect rate | 6% (Many emails go unread) | Avg. 22% across industries | 65% (Inbound only) |
| Undelivered (e.g. spam folder) | N/A | 53% | 2% | Recipient blocking sender (Inbound only) |
| API Integration | Limited (Data handled by agents) | No real-time integration | Advanced real-time 3rd‑party integration | Advanced real-time 3rd‑party integration |
| Payment (30 Days+) | 48% | 58% | 78% | Yes |
| Level of Automation / AI / NLP / ML | Automatic dialing, recorded messages and IVR | Automated sequences, no AI conversations | 75% automation possible, advanced NLP & ML | 75% automation possible, advanced NLP & ML |
| Agent Capacity | One call at a time | Reply one at a time; can send in bulk | 16 conversations at a time (asynchronous) | 2–3 conversations simultaneously is norm |
| Personalisation | Yes, with an agent | Yes | Yes | Yes |
| Real‑time Data Integration | No | No | Yes | Yes |
| Rich Media & Attachments | No | Yes | Yes | Yes |
| Self‑Service | No | No | Yes | Yes |
| Customer Experience | Intrusive, awkward, good for complex issues | Delayed response, limited functionality | Empathetic tone, easy to use, immediate responses | Convenient, not intrusive, limited conversations |
| Communicate at Scale | No | Yes | Yes | No |
| Conversational Ability | Yes outbound | Limited, delayed | Yes inbound & outbound | Yes (Inbound initiated) |
| Accessibility | 8:00 a.m.–8:00 p.m. (industry regulated) | Not immediate | Available 24/7 (17% of conversations out of working hours) | Available 24/7 (17% of conversations out of working hours) |
Find Out More About How Automated Debt Collection Software for Customer Engagement Works
If you need to improve your customer engagement and increase payments, talk to us and we’ll show you how AI and automation via digital messaging channels work.
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