Virtual Collection Agent Diversifies MRS Multi-channel Offerings
Chief Risk and Security Officer Michael Meyer is always looking to identify the newest technology to implement into MRS’s operations. Quickly, it became clear to him that voice recognition technology, like that used for Siri and Alexa, was at the heart of the future of all customer interactions. That belief, along with the speed of voice recognition software advancements, led to the birth of a virtual collection agent, who we’ve named Adam.
It took more than one try to get Adam right. First generation issues informed fixes for the future. MRS tried many solutions and found success with IBM Watson. MRS collaborated with IBM Watson, and together, the two worked to improve and implement Adam as an everyday agent.
Adam is a blend of AI and IVR. He learns every day. Meyer says, “Adam exists in an agile technology environment and we are always adding more intelligence and capabilities into him. We’re constantly finding more ways to make use of IBM Watson to help add more intelligence into every facet of Adam. It truly is a revolutionary technology. It allows us to reach a level of customer experience that is unheard of. That’s a huge win for all of our customers and clients.”
Adam greatly augments call handling. The AI is available after hours and can scale anywhere from 1 to 1,000 calls at once. Meyer says, “There’s a whole wide variety of people that agents have to talk to that end up not paying. Adam handles all of the people that know what they want to do. It saves agent time.”
Additionally, Adam cuts down wait time. The average waiting time for customers, sometimes reaching 1.5 minutes, was eliminated. From a compliance standpoint, Adam is exceptional. He does the same thing the same way every time. The implementation of Adam can remove human errors.
Adam’s ability to supplement MRS’s multi-channel offerings demonstrates the company’s endless thirst for innovation. Meyer says, “There’s this constant quest to improve and get better at MRS. Our culture of wanting to be at the edge of innovation and being able to rapidly implement new technology is unparalleled in our industry.” With the coming addition of two-way texting, Adam will have his own multi-channel abilities to communicate with customers the same as a human agent would.
The company’s dedication to excellence is perfectly illustrated through the revolutionary creation of Adam. MRS will continue to innovate, develop, and refine technology to benefit customers and clients.