The chatbot revolutionizing the debt collection industry

The Chatbot Glenn

coeo Inkasso is taking another step toward becoming Sweden’s leading debt collection company. They are now launching, as the only debt collection company in Sweden, Glenn 3.0 – an AI-trained chatbot designed to provide advice and assistance equivalent to that of a human contact. Glenn 3.0 has been developed in collaboration with AI company Ebbot.

With the new, upgraded chatbot, Glenn 3.0, customers have an even better opportunity to resolve their debt collection matters whenever they want – in an environment where they feel comfortable.

“Until now, the main use of our chatbot has been to provide information and manage standardized processes, such as disputes. The chatbot could quickly retrieve relevant data and answer questions about, for example, at what stage a consumer risks a payment default or what applies when a product has been returned. The news now is that Glenn takes on the role of advisor fully,” explains Pernilla Almström, CEO of coeo.

Extensive Training

To ensure that the advice is reliable, a large number of debt collection experts from coeo have provided the chatbot with a solid knowledge base. Glenn has been trained both in applicable laws and regulations and in a variety of scenarios to ensure he is ready to give the best possible advice. In addition to advisory capabilities, Glenn can implement agreed actions and send confirmation to the customer.

Glenn’s development has been conducted in close collaboration with Ebbot, whose deep AI expertise has helped ensure that Glenn maintains a humble, friendly, and constructive approach.

Pernilla Almström is confident that the quality of Glenn’s advice will match that of his human colleagues:

“Of course, we carefully train new employees and ensure everyone receives continuous professional development. But the thorough and systematic training Glenn has undergone would be difficult to achieve with a human colleague. Humans can also have a bad day for various reasons. Glenn, as a chatbot, offers machine-level consistency and will only improve as he handles more cases.”

An Option – Not a Requirement

For some people, a debt collection request can be emotionally challenging. coeo’s feedback shows that many customers appreciate being able to resolve their case without speaking to another person. Being able to do so at any time of day is also highly valued. Of course, there are still those who prefer to speak with a human rather than a chatbot.

“We also have a team of empathetic and skilled advisors. Our technological advances provide an option for those who appreciate the convenience. Those who prefer to speak to a human are more than welcome to do so,” clarifies Pernilla Almström.