EdgeVerve Launches CollectEdge to Help Banks Redefine Collection Predictability and Customer Experience Using AI

India - English

Citizens Bank leverages CollectEdge to modernize its collection processes and ensure better risk segmentation

News provided by

Apr 08, 2019, 08:16 ET

SAN FRANCISCO, April 8, 2019 /PRNewswire/ -- EdgeVerve Systems, a subsidiary of Infosys (NYSE: INFY), today announced the launch of CollectEdge at LendIt Fintech USA 2019. CollectEdge is an Artificial Intelligence powered product designed to help lending organizations reduce delinquency rates, boost recoveries, improve operational efficiencies and enhance customer experience.

With native AI and advanced machine learning capabilities, CollectEdge redefines collections by improving the accuracy of risk segmentation models and appropriate collection strategies. An over the top data driven application, CollectEdge generates accurate predictions and suggestions to help automate decision making and alleviate bottlenecks in business processes. Some of the benefits offered by CollectEdge are reduced charge-offs, real-time decision making and optimized collections outreach, resulting in tangible business outcomes.

Julie Signorille, Executive Vice President and Consumer Banking Chief Operating Officer, Citizens Bank, said, "Citizens Bank makes continuous investments in innovation to improve end-to-end customer experience, from origination to servicing and collections. In partnership with EdgeVerve Systems, we are modernizing our collection processes with real-time insights into delinquency rates, better risk segmentations and customized contact & calling strategies."

Atul Soneja, Senior Vice President and Global Head – EdgeVerve and NIA, said, "CollectEdge brings true digital disruption to the collections function by balancing risk mitigation and enhancing customer experience. Harnessing the power of 'explainable AI', CollectEdge is a plug and play product that makes the adoption of artificial intelligence easy for the lender and offers faster time to value. I am confident that the product will reduce provision liabilities and also enhance the customer experience."

About EdgeVerve Systems Ltd.

EdgeVerve Systems, a wholly owned subsidiary of Infosys, develops innovative software products and offers them on premise or as cloud-hosted business platforms. Our products help businesses develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. We power our clients' growth in rapidly evolving areas like banking, interactive commerce, distributive trade, customer service and enterprise buying and help them navigate their digital journey with our AI enabled Automation and Business Solutions.

At EdgeVerve, we are making constant strides towards transforming enterprises by providing AI enabled Business Applications, leveraging the Infosys Nia™ Platform with capabilities across the Automation continuum. Today EdgeVerve products are used by global corporations across financial services, insurance, retail and CPG, life sciences, manufacturing and telecom.

Finacle, our industry–leading digital banking solution suite is the choice of financial institutions across 100 countries to service more than a billion consumers and 1.3 billion accounts.

To know more, visit www.edgeverve.com

About Infosys

Infosys is a global leader in next-generation digital services and consulting. We enable clients in 45 countries to navigate their digital transformation. With over three decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements mentioned in this release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2018. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.

SOURCE Infosys