BBVA relies on human empathy to improve debt recovery
Against current trends in automation and the use of artificial intelligence, BBVA Mexico receives an innovation prize from Global Finance for a deeply human project: a debt recovery protocol based on empathy and behavioral understanding. A strategy that combines economic success and better customer experience.
FACTS
BBVA's Mexican subsidiary was rewarded by Global Finance for its innovative approach to debt collection based on empathy.
The bank has developed a negotiation guide for call centre agents, incorporating behavioural economy principles to better understand and support clients in difficulty.
This system is based entirely on human skills without using artificial intelligence tools or automated software.
The results are very positive, with a significant improvement in collection rates and a better relationship between customers and the institution, which leads BBVA to extend this method to other markets and communication channels.
ISSUES
Prevention of the debt spiral : to intervene very early to avoid worsening the financial situation of customers.
Emotional intelligence enhancement in banking processes in the era of massive automation.
Human/machine rebalancing show that the human remains indispensable for certain critical dimensions of the customer relationship.
Strengthening "customer center" To demonstrate that the applied behavioural economy allows real competitive differentiation.
PERSPECTIVE
BBVA's experience could inspire the entire banking sector, demonstrating the relevance of creating departments specialized in behavioural economy.
As artificial intelligence progresses rapidly, this project recalls that the authenticity of human empathy remains today irreplaceable in the management of the customer relationship as demonstrated by other actors like NatWest with its investment in Serene, an AI platform dedicated to combating financial vulnerability.
More broadly, this initiative stresses that innovation is not limited to the technological advances of artificial intelligence in which the Spanish bank BBVA has already invested a lot, but also requires a better understanding of the human factor within organizations.
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