American Finance L.L.C Scales Revenue Recovery by Optimizing Collection Processes with Skit.ai's Conversational Voice AI Platform

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NEW YORK, May 18, 2023 /PRNewswire/ -- Skit.ai, the leading Conversational Voice AI solution provider in the Account Receivable Management (A.R.M) industry, announces a strategic alliance with Delaware based, American Finance L.L.C, a prominent lending company specializing in the automotive industry. The company was one of the early adopters of Voice AI in the ARM industry. This partnership aims to automate their outbound calls and accelerate revenue recovery efforts by scaling collections efficiency and rates.

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PR Newswire

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Thursday, May 18, 2023

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Tags:

Partnership, L.L.C, ARM, Information technology, Conversation, Human voice, Collection, Museum of American Finance, Sales, Mobile phone, Customer service

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UNITED STATES OF AMERICA, NEW YORK, DELAWARE

⚠ partially generated by AI ↴

Summary

Key Points:

Skit.ai's Conversational Voice AI solution achieves significant milestones in American Finance L.L.C with better collections, efficiency, and scalable support.
The company was one of the early adopters of Voice AI in the ARM industry.
This partnership aims to automate their outbound calls and accelerate revenue recovery efforts by scaling collections efficiency and rates.
American Finance L.L.C like many collection agencies, faced challenges such as escalating costs and bottlenecks arising from skilled agent scarcity.

American Finance L.L.C Scales Revenue Recovery by Optimizing Collection Processes with Skit.ai's Conversational Voice AI Platform

Skit.ai's Conversational Voice AI solution achieves significant milestones in American Finance L.L.C with better collections, efficiency, and scalable support.

NEW YORK, May 18, 2023 /PRNewswire/ -- Skit.ai, the leading Conversational Voice AI solution provider in the Account Receivable Management (A.R.M) industry, announces a strategic alliance with Delaware based, American Finance L.L.C, a prominent lending company specializing in the automotive industry. The company was one of the early adopters of Voice AI in the ARM industry. This partnership aims to automate their outbound calls and accelerate revenue recovery efforts by scaling collections efficiency and rates.

American Finance L.L.C like many collection agencies, faced challenges such as escalating costs and bottlenecks arising from skilled agent scarcity. Skit.ai's compliant, configurable, and easy-to-deploy Augmented Voice Intelligent Platform emerged as an ideal fit, offering end-to-end automation at a quarter of the cost and solving agent scarcity challenges with scalable outbound collection campaigns. The implementation of such a robust platform enabled American Finance to get the right person at the right time and with the right message, achieving an impressive collection rate of 13.5% and an engagement rate of 38%.

Talking about the partnership, Dean Stibbs, Director of Information Technology at American Finance L.L.C., stated, "We chose Skit.ai for its robust technology and understanding of the debt collections space, and we were equally impressed with how responsive and easy to work with the team was. Skit.ai's Voice AI solution performs as well as our average collector on the floor. We've been telling our peers in the industry that Skit.ai is one of the best ideas we've implemented at American Finance to date."

Skit.ai's partnership with American Finance marks the beginning of a new era in the ARM industry, a period that will be marked by the rise of Conversational Voice AI, capable of end-to-end call automation, a rise in collection efficiencies, and a marked reduction in agent dependencies. The rise in collections, payment rates, and cost-efficiency clearly make Skit.ai's partnership with American Finance a perfect example of how ARM companies can use Voice AI technology to transform collections.

"American Finance was the first to adopt our platform in the ARM industry. We have broken many barriers like 57% of Card-on-file payments and frequent repeat payments at one-fourth of the prior call cost. We are just getting started and expect further improvements in the coming months," stated Sourabh Gupta, Founder, and CEO of Skit.ai

For more information on Skit.ai's Conversational Voice AI solution and its impact, visit www.skit.ai.

About American Finance L.L.C.

American Finance L.L.C. is a lending company specializing in the automotive industry and works with people in any financial stage. Whether you need assistance with a used auto loan, buying a commercial truck, or if you have large repairs for your current vehicle we can help. Learn more - https://americanfinancellc.com/

About Skit.ai:

Skit.ai is the leading Conversational Voice AI company in the ARM industry, enabling collection agencies to streamline and accelerate revenue recovery. Skit.ai's Compliant, Configurable, and Easy-to-deploy solution enables enterprises to automate nearly one million weekly consumer conversations. Skit.ai has been recognized by Forbes 30 Under 30 Asia 2021 and has been awarded several award recognitions, including Disruptive Technology of the Year 2022 by CCW; Stevie Bronze Winner 2022 by The International Business Awards; Gold Globee CEO Awards 2022; and Startup of the Year in Artificial Intelligence 2021 by Entrepreneur India. Skit.ai is headquartered in New York City, NY. Learn more at https://Skit.ai

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SOURCE Skit.ai