On the heels of launching artificial intelligence algorithms in its underwriting processes, subprime lender Tricolor Auto Acceptance has started testing AI in another area of the business.
Chief Executive Daniel Chu said the buy-here, pay-here lender, which focuses on Hispanic car buyers, is using AI in its Guadalajara, Mexico, call center. The niche lender has started testing voice intonation AI within some buckets of delinquent loan borrowers. “If you’re asking customers questions over the phone, you can have some insight into how truthful those responses are,” Chu told AFN.
Testing for these AI tools started about two months ago and is expected to continue through June. There are about 170 Tricolor employees in Guadalajara, Chu added.
Tricolor is also employing AI to determine the best time to reach consumers, Chu said. “Our customers, on average, work 60 hours a week, so we use AI to figure out the most efficient times to reach them, in order to make call center activity more efficient,” he said.
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