Katabat, a software solutions provider, has announced the launch of Katabat Engage, a “data-driven” debt collection product “powered by machine learning” to creditors and consumer lending operations.
The product provides lenders with a machine learning platform that allows for the use of customized text messaging and emails as communication tools with individuals to “continuously tune customer outreach and response strategies,” the company said in a release announcing the launch.
“We are very excited to present Engage to our clients and the broader marketplace,” said Katabat CEO Ray Peloso. “Our data science team has built a mature and reliable data pipeline for machine learning and continues to demonstrate the power of the platform through its success in several Google Kaggle machine-learning competitions.”
The company has seen “early interest” from several lenders, according to a comment from Kelly Dickerson, Katabat’s Head of Product Strategy, in the announcement.
“Clients want a product that meets stringent regulatory and compliance standards while saving them the cost and time of developing and testing software like this on their own,” Dickerson said.
Here is an interview with Peloso where he talks about the growth of machine learning in lending.
