RBL Bank has partnered with Creditas Solutions for its ‘Neo Collections’ platform.

The private sector lender will utilise the SaaS-based platform to accelerate efficiency in collections across the loan cycle, said a statement on Monday.

“Powered by AI and ML technology, the platform is built to automate strategies for reaching out to customers individually in an empathetic manner and motivate them to repay loans,” it further said.

The platform can also determine the best course of action for every customer by offering customised payment plans to service debt, schedule an EMI plan or opt for payment resolution options.

“The Neo Collections Platform, a Do It Yourself (DIY) debt management platform, will help our customers seamlessly monitor, manage and pay their dues,” said Harjeet Toor, Head – Retail, Inclusion and Rural Business, RBL Bank.