EdgeVerve launches AI-powered solution for banks

EdgeVerve Systems, an Infosys subsidiary which develops cloud-based software applications, has launched an artificial intelligence-powered solution for banks and other financial institutions.

The solution, called CollectEdge, will help organisations reduce delinquency rates, boost recoveries, improve operational efficiencies and enhance customer experience, EdgeVerve Systems said in a statement.

CollectEdge will also improve the accuracy of risk segmentation models and appropriate collection strategies, EdgeVerve said in a statement.

EdgeVerve said that the product, which is built on the plug-and-play model, is data-driven and could generate accurate predictions while also helping in automating decision-making.

“CollectEdge brings digital disruption to the collections function by balancing risk mitigation and enhancing customer experience," said Atul Soneja, senior vice president and global head for EdgeVerve.

EdgeVerve offers products across business segments like banking, interactive commerce, distributive trade, customer service and enterprise buying. Infosys' most successful financial industry product Finacle, which provides digital banking functionality, is also part of EdgeVerve's portfolio.
 
EdgeVerve had in January taken a step towards negating human bias in process automation with the launch of a new enterprise tool. The company said that AssistEdge Discover can boost the success of automation implementation by reducing the need for human intervention.