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Synopsis By training the algorithms to mine the data, the big data analytics can now predict which customers will most likely resume paying after missing a couple of installments, and who will probably default. “The best way for a bank or a financial institution to lose a customer is to give the account to a collection agency,” says Sumeet Srivastava, the chief executive of a five-year-old startup that aims to boost collections without human contact. A 2021 remake of Get Shorty might not have much use for John Travolta’s Miami mobster character. The debt collector role could go to a bo...

Why Use Muscle? Big Data Can Collect Debt Apr 19 2021, 6:05 AM April 19 2021, 4:00 AM April 19 2021, 6:05 AM (Bloomberg Opinion) -- A 2021 remake of Get Shorty might not have much use for John Travolta’s Miami mobster character. The debt collector role could go to a bot. (Bloomberg Opinion) -- A 2021 remake of Get Shorty might not have much use for John Travolta’s Miami mobster character. The debt collector role could go to a bot. You can test this hypothesis in a most unlikely place to roll out a new technology: the Indian cou...