Vernacular AI enables Seamless Payment Collections in Fintech
Amitesh kumar, COO & CFO, Midland Microfin Ltd.
“At Midland, we believe in extending enhanced support features not only to our valued members through ‘Sahayak BOT’, but also to potential candidates who aspire to join the Midland Microfin Ltd (MML) family. We’ve launched our innovative ‘Hire Bot,’ which provides a seamless platform for individuals interested in job opportunities at MML.”
Break free from language barriers and unlock limitless customer interactions. Explore the impact of vernacular AI voice bots in ﬁnance and insurance, breaking linguistic obstacles and engaging customers in their native languages.
Experience a revolutionary shift in customer experience, inspiring curiosity and igniting possibilities in microﬁnance payment collection. Discover the remarkable achievements of Midland Microﬁnance Ltd, a thriving industry leader pushing boundaries and redeﬁning success.
Midland Microﬁn, a tech-savvy trailblazer in Microﬁnance, began in Punjab and expanded across 12 states. Recognizing the signiﬁcance of advanced technology, Midland empowered its workforce, enhancing productivity and efﬁciency while gaining valuable performance insights for proactive decision-making.
In the pursuit of seamless operations and Information access, Midland unveiled a ground-breaking arsenal of innovative tools. Among them, the vernacular chatbots game-changers, elevating customer interactions to an unprecedented level by effortlessly bridging multilingual divides. In parallel, Midland engineered ingenious mobile applications that ushered in real-time monitoring of ﬁeld staff activities, establishing a paradigm of efﬁciency in management and coordination. As a cherry on top, employees now enjoy seamless convenience by claiming travel expenses through a dedicated app, eliminating red tape.
Through its proactive approach to integrating technology into its processes, Midland continues to lead the way in revolutionizing the microﬁnance industry and delivering exceptional services to its customers.
Instant Support at Your Fingertips: Vernacular AI Voice Bots to the Rescue
With Vernacular AI Voice Bots and Chat Bots, Midland Microﬁn Ltd. provides instant multilingual support, addressing various customer queries such as account inquiries, balance checks, transaction history, and policy details. Customers receive real-time responses and personalized assistance, empowering them to access information and complete transactions seamlessly, without human intervention.
Introducing Customer Grievance and Recruitment Chat Bots
In today's ﬁercely competitive landscape, Midland understands the paramount importance of forging deeper connections with customers. To enhance customer engagement and satisfaction, they introduced the revolutionary "Customer Grievance Chatbot Sahayak." It communicates with customers in their native languages, fostering trust and freeing human agents to focus on complex matters like default customers.
Sahayak, a revolutionary chatbot, excels at handling multiple customer interactions, maximizing efﬁciency with swift responses and prompt issue resolution. Through analyzing interactions and extracting crucial information, Midland gains profound customer insights, empowering them to deliver bespoke services that cater to evolving needs. Sahayak propels Midland towards unrivalled customer understanding and exceptional service delivery.
The Hire Bot revolutionizes recruitment at MML, offering easy access and faster support for candidates. It streamlines the application process, providing swift communication, timely HR responses, and direct connection with the HR SPOC (Single Point of Contact). From the HR perspective, the Hire Bot reduces time-to-ﬁll (TAT) for job vacancies, streamlining screening and ﬁltering suitable candidates for increased productivity and efﬁciency.
With Vernacular AI Voice Bots at the forefront, Midland Microﬁn revolutionizes customer experiences in ﬁnancial services. These bots transcend language barriers, empowering diverse customer bases and delivering exceptional digital experiences. Through multilingual support, customers enjoy instant support, personalized recommendations, and seamless transactions. Midland Microﬁn's customer-centric approach is further enhanced by two key AI call features: capturing valuable feedback from default customers and raising awareness about insurance products.
Data Analytics of IVR, Voice Bot & ChatBot Data
Leveraging the power of data analytics, vernacular AI voice bots unlock valuable insights for businesses. This data-driven approach enables informed decision-making, product reﬁnement, and targeted marketing campaigns. By generating a wealth of data, these bots reveal emerging trends, predict customer needs, and proactively address potential issues, propelling businesses towards growth and success.
Harmonizing Automation and Human Touch
In the realm of vernacular AI voice bots, human intervention and empathy are crucial for complex customer scenarios like missed payments. Voicebot Calls reach out to these customers, identifying those with Promise to Pay (PTP) or speciﬁc payment issues. Call Centre agents personally engage with these 300 clients, balancing automation and the human touch for an exceptional customer experience.
Streamlining Operations With Vernacular AI Voice Bots
Vernacular AI Voice Bots offer undeniable efﬁciency and cost savings. Automated payment reminders in local languages notify customers about due dates, balances, and payment options. Proactive engagement reduces late payments, optimizing revenue collections. The powerful combination of automation and human interaction ensures exceptional service and meaningful connections.
Secure Payment Assistance made easy
Midland envisions a future where seamless collections occur through Vernacular AI voice bots integrated with secure payment gateways. Customers can effortlessly make payments using voice commands, authorizing payments and completing transactions. This streamlined process, coupled with a secure environment, boosts successful payment collections. Vernacular AI voice bots also enable customized payment plans, reducing default rates, fostering customer loyalty, and strengthening relationships.
The Dawn of a New Era: Transforming Financial Services
Vernacular AI Voice-bots revolutionize payment collections, enhancing customer experiences, streamlining operations, and boosting revenue. Embracing these cutting-edge technologies propels fintech companies towards inclusivity, efﬁciency, and customer-centricity. These bots unlock untapped potential through advanced data analytics, hyper-personalization, and predictive intelligence in the future of ﬁnance.
Midland leverages advanced analytical tools like Power BI and Tableau to enhance data visibility, enabling a comprehensive 360-degree view of performance for all stakeholders. With a relentless focus on technological advancements, Midland delivers transparent solutions that empower customers and stakeholders, driving impactful outcomes.
“Enter a realm where technology empowers and insights guide, a financial landscape driven by data and customer-centric innovations, and anchored in agility & inclusivity as we journey towards a future of boundless possibilities.”
Mr. Amitesh Kumar
Mr. Amitesh Kumar is a highly accomplished professional who has played a pivotal role in spearheading business operations as the Chief Operating Ofﬁcer (COO) and Chief Financial Ofﬁcer (CFO) for Midland Microﬁn Ltd since its establishment in 2011. With an illustrious career spanning 14 years, he possesses extensive expertise in various domains including microﬁnance business development, sales and marketing, accounting and ﬁnancial management, fundraising, management reporting, compliance, and risk management.
Mr. Amitesh Kumar holds a Master of Business Administration (MBA) degree in Agri-Business and Rural Management from the esteemed Indian Institute of Agri-Business Management. His profound knowledge and comprehensive understanding of the microﬁnance industry make him an invaluable asset to the organization. Commencing his professional journey at BFIL (formerly known as SKS Microﬁnance), he swiftly earned recognition as a strategic and resilient professional, consistently delivering exceptional results.
Due to his exceptional contributions and notable accomplishments, Mr. Amitesh Kumar received esteemed recognition as one of the Top 5 Chief Financial Ofﬁcers in Finance-2019 by CEO Insights Magazine.