Jacksonville-based artificial intelligence and machine learning firm NLP Logix announced it recently landed a new international client for its debt collection software.
NLP Logix will integrate Paypensity – a product that measures the probability that a consumer will pay a debt – into Australian-based debt recovery software company CreditSoft Solutions' operations.
Paypensity does a better job of measuring who will pay versus who can pay, in the way that a credit score does, said Katie Bakewell, NLP Logix's lead statistician. It provides a more holistic analysis through a machine learning approach, she added.
This allows agencies reviewing large amount of delinquent accounts to prioritize and collect as much as possible with limited resources.