Debt and premium collections are the lifeblood of the BFSI sector-without them, even the strongest portfolios can collapse. Whether you’re a bank recovering EMIs, an NBFC following up on SME loans, a microfinance institution ensuring weekly repayments, or an insurer reminding customers of overdue premiums, one truth remains: recovering dues is harder and more expensive than ever.

For decades, BFSI institutions have relied on large human calling teams. Agents manually dial customers, follow up on overdue payments, and record promises to pay. While this human touch is valuable in complex cases, it’s slow, costly, and inconsistent for high-volume follow-ups.

This is where technology steps in to rewrite the rules. Ikontel’s Generative AI Banking Voice Bot offers a solution that blends the personal feel of a live agent with the speed and scale of automation. It’s not an outsourced service - it’s a product you control, powered by AI, with a built-in CRM that gives you complete oversight of scripts, strategy, and data.

Challenges in BFSI Debt Collection

High Operational Costs - Salaries, office space, telephony, and supervision can consume 15-20% of recovered amounts.
 

Limited Human Reach - An agent handles only 80-100 calls/day-too few for large overdue portfolios.
 

Low Connection Rates - Up to 40% of customers ignore unknown or collection numbers.
 

Compliance Risks - One wrong phrase can lead to penalties, legal issues, or reputational harm.
 

Language Gaps - Customers speak dozens of languages and dialects; matching them all is nearly impossible manually.
 

Inconsistent Quality - Human productivity fluctuates, impacting recovery rates.
 

Slow Follow-up - Days-long delays after missed payments reduce recovery chances.

The result? Lower cash flow, higher NPAs, and strained customer relationships.

Ikontel’s GenAI Voice Bot Solution for BFSI

Our solution has two key components:

• AI Voice Bot for Loan Repayments - An intelligent, multilingual calling engine capable of thousands of natural, context-aware conversations daily. This is       voice AI debt collection designed for BFSI realities.
• Integrated CRM - Complete control over borrower lists, scripts, call flows, and escalation-entirely in-house.

With Ikontel’s system:

• You control who to call, when to call, and what to say.
• The AI makes instant, compliant, and empathetic calls.
• Human agents step in only for complex or high-value cases.

This is not a call center replacement-it’s an automation layer that scales AI in loan collections without scaling headcount.

How the GenAI Voice Bot Works

1. Connect Your Data - CRM integrates with your core banking, loan management, or policy systems to import overdue cases.
2. Segment Customers - Group by product type, overdue days, repayment history, and language preference.
3. Automated Outreach - The loan repayment AI bot calls customers, shares payment details, offers repayment options, and records commitments in a conversational tone.
4. Escalate When Needed - Difficult cases are routed instantly to your human team.
5. Track & Optimize - Real-time dashboards display performance, promises, and recovery rates.

Because the bot runs 24/7, customers are contacted immediately after a missed payment-dramatically improving recovery odds.

Benefits for BFSI Collections

• Speed - Instant contact drives faster recoveries.
• Cost Efficiency - Reduce operational costs by up to 60%.
• Scalability - Thousands of calls daily, without extra hiring.
• Multilingual Reach - Engage customers in their preferred language.
• Consistency - Every interaction follows approved, compliant scripts.
• Data Security - All processes remain within your BFSI environment; PCI DSS & ISO certified.

BFSI Success Story – NBFC Case Study

A leading NBFC used Ikontel’s generative AI banking voice bot for personal and SME loan collections.

Results in 90 days (not typical):

• 60% lower cost per contact
• 28% more repayment commitments
• 12% drop in overdue days
• 100% compliance adherence

Routine calls were fully automated using voice AI debt collection, freeing human agents for priority cases-boosting recoveries and customer satisfaction.

Wider BFSI Use Cases

• Banks – EMI reminders, loan repayment follow-ups, credit card dues.
• NBFCs – Personal, vehicle, and SME loan collections.
• Microfinance Institutions – Weekly repayment calls in local languages.
• Insurance Providers – Premium renewal reminders, lapsed policy alerts.
• Fintech Lenders – Automated follow-ups for digital loans.

If you collect EMIs, premiums, or repayments, AI in loan collections can work for you.

Conclusion

The BFSI sector faces relentless pressure to recover dues faster, at lower costs, while staying compliant. Manual calling alone is no longer viable-it’s slow, expensive, and unscalable.

With Ikontel’s AI voice bots banking solution, powered by generative AI banking voice technology, you keep full control while automating repetitive collections work. Customers get timely, personalized reminders in their language. Agents focus on high-value cases. Recovery rates climb-costs drop.

This is the future of AI in loan collections: scalable, multilingual, compliant, and entirely under your control.

FAQs

1. Does Ikontel operate the collections process?
   We supply the technology. Your team runs and manages the entire process.
2. Can it handle insurance and microfinance repayments?
   Yes-it’s built for the full BFSI spectrum.
3. How many languages does it support?
   Multiple Indian and global languages, with mid-call switching if needed.
4. Is customer data safe?
   Absolutely. We use encryption and follow BFSI-grade data security standards. We are an ISO organization and PCI DSS certified.
5. How quickly can we launch?
   Most BFSI clients are fully operational within 48 hours

Book Your Free Demo

Experience how Ikontel’s loan repayment Gen AI voice bots can transform your BFSI collections. Automate calls, lower costs, and recover payments faster-without giving up control.