Virtual Recovery Debt Collection BFSI

The recovery process in banking refers to the steps taken by institutions to collect overdue loans and ensure repayment. This includes reminders, voice alerts, loan automation, and legal action if required. Today, banks utilize virtual recovery powered by AI voicebots, such as Convin’s AI Phone Calls, to automate outreach, enhance compliance, and minimize delays.

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Bank recovery of bad debt is the method banks use to recover loans that have become non-performing (NPAs). Traditionally reliant on manual collection teams, the process is now enhanced with virtual recovery, which utilizes AI voicebots to send payment reminders, ensure AI compliance, and proactively reduce NPAs.

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The four steps typically include: With virtual recovery, Convin automates these steps to accelerate the credit cycle, ensure compliance, and reduce costs.

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Debt recovery in banking is the process of securing repayment from borrowers who fail to meet loan obligations. Modern debt recovery relies on virtual recovery solutions that automate reminders, track borrower engagement, and deliver empathetic outreach. Convin’s AI phone calls enable institutions to cut defaults, improve collections, and maintain compliance, all while enhancing the borrower experience.

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