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Kotak Bank introduces DIY digital repayment platform

August 19, 2021

Kotak Bank introduces DIY digital repayment platform

To deliver an advanced repayment experience for customers and increase efficiencies, Kotak Mahindra Bank (KMBL) today announced that it has deployed a secure, Do It Yourself (DIY) Digital Repayment Platform for missed loan repayments, in a partnership with Creditas Solutions.

Powered by Artificial Intelligence (AI) and Machine Learning (ML), the ‘Neo Collections’ platform delivers a personalized and non-intrusive experience accordingly enabling clients to manage with their dues seamlessly on their own through an intuitive repayment platform.

Using data analytics to target the right consumer segments, the ‘Neo Collections’ foundation makes hyper-personalized scenarios to associate with every client. The platform analyses both verifiable just as live client connection information, deploying sophisticated behavioral models to create singular client level personas that consider the unique preferences of every client, including their preferred communication mode, the best time to contact them and the language of the choice.

By clicking on the link received, clients will be coordinated to the platform that provides them with a consolidated view on their whole relationship with the bank and enables repayment of outstanding dues through a variety of payment modes.

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