Servicing and collections conversations that follow your procedures on every call, text and email.
Bluegrass builds servicing and collections systems for lenders. The system talks with borrowers by phone, text, email and chat within your procedures and the borrower's state rules, and hands anything outside its remit, such as hardship requests and disputes, to your staff.
Servicing costs grow with the portfolio and faster in a downturn, because delinquent accounts need many more contacts. Handling routine conversations consistently lets your team keep pace without hiring in step with delinquency, and gives compliance a complete record.
What servicing and collections involve today
Agents answer balance and payoff questions, and collectors work delinquent accounts toward a payment or arrangement. Every contact must respect consent, contact preferences, state rules and limits on timing and frequency, and be recorded.
Contact volume rises when lenders can least afford it, and quality assurance samples so few calls that a skipped disclosure can go unnoticed for months. That makes routine conversations one of the clearest places for AI that follows procedure exactly.
How automated servicing and collections work
- 01
Know the borrower
Before each contact the system gathers the payment history, prior conversations, promises to pay, hardship notes, disputes and contact preferences, so every conversation starts where the last one ended.
- 02
Check before contact
Before every outbound call, text or email, the system checks consent, contact preferences, the borrower's local time, contact frequency and any restriction, such as a bankruptcy, a request to stop contact or servicemember protections.
- 03
Hold the conversation
The system follows your scripts and procedures, verifying identity before discussing the account, giving the required disclosures, explaining the options your policy allows and answering questions from your servicing policies.
- 04
Act and hand off
Payments, promises to pay and the arrangements your policy allows are set up during the conversation. Hardship requests, disputes, complaints and requests for a person go to your staff with a summary.
- 05
Record everything
Every contact is recorded, transcribed, written to the account with its outcome and checked against your rules, so your compliance team can see what was said and why.
Where people stay in the loop
Your team's collections strategy decides which accounts to contact, when and with which offers, and the system only carries it out. Hardship and loss mitigation, disputes, complaints, bankruptcy and anything outside the arrangements your policy allows go to your staff.
The system starts with narrow tasks such as payment reminders, and every conversation is reviewed in the first weeks. It takes on more only as accuracy and compliance are measured, and your team can narrow its remit at any time.
The systems it works with
The system works with your servicing system, dialer and messaging platforms, payment processor and consent and preference records, and writes every contact back to the account.
When to build it, and when to buy it
Several specialist AI vendors now handle servicing and collections calls and texts, and a lender with standard products on a servicing platform they connect to should look at them first.
A custom build makes sense when your procedures, products or state footprint would force a packaged agent to bend, when you want the conversation records and evaluation data under your own control, or when servicing should share one record with your claims, disputes and compliance review.
We hold no reseller agreements, partner quotas or revenue share with any vendor, so a recommendation to buy is made on its merits.
What this work costs you today
A quick way to put a number on the problem before talking to anyone, using your own figures rather than ours.
Enter your volume and the minutes each one takes to see what the work costs in a year.
The numbers stay in your browser and are not stored or sent anywhere. Bring the figure to the first call, since it is the baseline any system should be measured against.
Questions about servicing and collections
- Will borrowers know they are talking to an AI?
- We recommend the system identify itself as automated at the start of every conversation, and it always does so where your policy or the borrower's state requires it. Anyone who asks for a person is transferred with a summary.
- Which rules does it follow?
- It follows the TCPA's consent rules for calls and texts, which the FCC applies to AI-generated voices; the ban on unfair, deceptive or abusive practices; state collection laws, some of which cover lenders collecting their own loans; the FDCPA and Regulation F where they apply or your policy adopts them; and Regulation X for mortgages. Your compliance team and counsel agree the rules and remain responsible for interpreting them.
- Does it decide who to call or what to offer?
- Your collections strategy decides that, and setting it is a credit decision that stays with your team. The system works within it and does not score borrowers or predict who will pay.
- Does it work for mortgage as well as auto loans?
- The same system serves both, following your procedures for each: for mortgage, these include Regulation X's early intervention and loss mitigation requirements, with hardship conversations going to your loss mitigation team; for auto loans, the collection rules of each borrower's state.
Related systems
A senior team that has done this before
We are a small, entirely senior team with fifty years of combined AI engineering, multiple granted patents and Y Combinator founders, from Yale, MIT, McKinsey, Goldman Sachs, Microsoft and Vista Equity Partners. The people who scope your work are the people who write the code.
Selected work
We built the AI transformation roadmap for a top-50 P&C brokerage, and it is saving the firm millions of dollars in vendor fees it did not need to pay.
Clients include some of the largest banks, RIAs, fintechs and AI labs, as well as a top-3 P&C carrier, a top-10 P&C brokerage, a top-5 trucking brokerage, a leading specialty MGA and a leading trucking MGA.
We run only 3 to 5 engagements at a time, so that every client works directly with the senior team.
About the team- Dozens
- of insurance companies, RIAs, banks and fintechs we have worked with
- 50 yrs
- combined AI engineering experience
- 10+ Patents
- granted to members of the team
- 100%
- of the IP we build is assigned to you
Find out whether this is worth building for your business.
A 30-minute call with an engineer usually shows whether this is worth building. Within a week you will have a free written point of view, including whether a packaged product would serve you better.