Text-based reminders for loan repayments via SMS and emails remain crucial in borrower communication. However, customers are sometimes overwhelmed with multiple text-based collections communication, and they often remain unread – leading to a lack of response and further delay in repayments. Lenders are now adopting a more engaging channel to connect with customers, ultimately leading to faster repayments.
Credgenics CollectEngage is a smarter solution to enhance debt collections communications through personalized GenAI-powered video messages. These informative and interactive videos significantly boost engagement, simplify complex information, and drive faster loan repayments. This solution ensures a more effective borrower experience across the entire collection journey.
Why video-based reminders are useful
For years, lenders have relied on text message reminders to communicate with borrowers. Many borrowers tend to skim through text-based collections communication or miss key details, which might lead to delayed payments and increased follow-ups.
Here’s how borrower engagements can be improved:
- Boosting Engagement – People retain only 10% of information from textual messages, making it easy to overlook repayment reminders.
- Enhancing Personalization – Generic SMS and emails may not always resonate, whereas tailored messaging drives better response rates.
- Adding Visual & Interactive Appeal – Borrowers process visuals 60,000 times faster than text, making videos a powerful tool for clarity.
- Reducing Confusion, Speeding Up Repayments – Clear explanations of repayment terms help prevent delays and disputes.
Video-based reminders complement traditional communication by making borrower engagement more effective, interactive, and impactful.
Recognizing this gap, Credgenics CollectEngage transforms borrower engagement by integrating GenAI-powered video messaging, which ensures clarity and convenience.
GenAI Videos complement textual communications for collections communication
Studies reveal that people retain 95% of a message when they watch it in a video, compared to only 10% when reading text.
Videos enhance traditional communication channels by adding a dynamic, engaging, and visually compelling layer to collections reminders. AI-powered video messaging bridges this gap by making reminders more personalized, interactive, and easier to understand. By integrating videos alongside existing communication methods, lenders can create a holistic, multi-channel strategy.
Lenders leveraging CollectEngage’s AI-powered videos experience:
- Higher Borrower Engagement – Personalized, interactive videos grab attention and ensure that repayment reminders don’t go unnoticed.
- Improved Repayment Rates – Clear, visual explanations of repayment terms reduce confusion and encourage timely payments.
- Improved Operational Efficiencies – AI-powered automation minimizes manual follow-ups, optimizing efficiency while cutting costs
- Better Compliance & Borrower Trust – Structured, transparent messaging ensures that borrowers understand their obligations, fostering trust and regulatory adherence.
CollectEngage – The art of building lasting connections with borrowers
Instead of sending plain text reminders, Credgenics CollectEngage uses GenAI video messaging to deliver engaging, interactive, and clear borrower communication. These dynamic videos replace traditional reminders while making collections more engaging, effective, and human-like. Beyond information delivery, video messaging also creates an emotional connection that text cannot achieve.
What makes CollectEngage different?
- Personalized GenAI Videos – Borrowers receive tailored video messages addressing their specific loan status, due dates, and payment options.
- Embedded Payment Links – Borrowers can instantly make payments directly by clicking on the video, reducing friction in the repayment process.
- Multilingual & Interactive Content – Videos are available in multiple languages, ensuring borrowers understand repayment instructions clearly and comfortably.
- AI-Rendered Avatars for Human-Like Messaging – Videos feature AI-generated presenters, delivering messages with clarity, urgency, and personalization.
- Automated campaigns – AI ensures borrowers receive timely reminders based on their repayment cycle.
- Advance Analytics Dashboards- Gain deep insights into play duration, borrower engagement, and repayment trends to optimize campaigns.
CollectEngage in action: Use cases for every stage of debt collections
According to industry research, 72% of people favor videos over text for learning about new products or interactive features. CollectEngage’s AI-powered video messaging is not just about reminders, it helps borrowers understand their financial responsibilities, which leads to fewer disputes and faster payments.
- Educational & Awareness Videos – Explaining loan repayment structures, benefits of timely payments, and consequences of delays
- Gamified Videos with Offers – Encouraging on-time payments with reward points, fee waivers, and engagement-driven incentives.
- Payment Reminders & Facilitation Videos – Automated AI-powered payment reminders with one-click payment links for seamless transactions.
- AI-Rendered Legal Notices & Critical Messages – Delivering urgent, compliance-driven messages regarding defaults and legal actions in a clear, human-like format.
Building a case for (NTC) new-to-credit segments with CollectEngage
40% of NTC borrowers start their credit journey with consumption-led products, as per TransUnion CIBIL CMI. These first-time borrowers may need clear, structured guidance on repayment timelines, late fee implications, and credit score impact.
Given lenders’ cautious approach to this segment, video reminders can enhance borrower awareness, build repayment discipline, and reduce delinquencies—ultimately supporting healthier credit market performance. By integrating CollectEngage’s interactive video reminders, lenders can ensure NTC borrowers stay informed, engaged, and on track with their repayments, which leads to improved loan performance and financial inclusion.
The future of collections: Smarter, more engaging, and GenAI video-based
With growing digital adoption, borrowers expect clear communication. GenAI technologies like voicebots and video messaging bridge the gap between effective borrower interaction and improved collections efficiency. Credgenics CollectEngage transforms how lenders communicate while turning passive notifications into interactive, results-driven experiences.
FAQs
1. How does CollectEngage improve debt collections communication?
CollectEngage uses GenAI-powered video messaging to replace traditional text-based reminders, enhancing engagement and clarity, leading to faster repayments and more effective debt collections communication.
2. What features make CollectEngage’s video reminders stand out in collections communication?
Key features include personalized GenAI videos, embedded payment links, multilingual content, AI-rendered avatars for human-like messaging, and automated campaigns based on borrower repayment cycles. CollectEngage also offers easy access to event tracking, heat maps, and channel analytics as well as actionable insights on customer responses and behavioural trends
3. How does CollectEngage improve operational efficiency in collections communication?
By automating video-based reminders, CollectEngage reduces manual follow-ups and optimizes the collections process, saving time and reducing costs for lenders.
4. What are the benefits of CollectEngage?
Credgenics CollectEngage digitally elevates your collection efforts with personalized, interactive videos and creates a lasting impression. Lenders can experience:
- Increased response rates and faster collections
- Improved payment compliance
- Empathetic, personalized communication
- Easily scalable with lower cost of engagement
5. What is the future of collections communication with GenAI technologies like CollectEngage?
As digital adoption grows, GenAI technologies like CollectEngage will continue to transform debt collections communication, making it more interactive, efficient, and results-driven.
