Case Study: How CRMG Disrupted Its Industry With Cognigy AI

Cognigy.AI has helped CRMG establish a mature customer service automation exactly the way that they had envisioned. Today, they serve 200,000 customers a month with three live agents. This means the virtual agent does the job of around 1,000 human agents.

“Cognigy.AI is the best customer service automation platform on the market. We have investigated the competition carefully and were convinced by the Cognigy.AI solution as the AI structure is pre-made and easily integrated into our CRM. Since serving our customers with Cognigy.AI we have experienced massive successes and overperformed in every aspect.” David Morgan, CEO and Chief Information Officer at CRMG

About CRMG

CRMG, LLC strives to provide first-class technology solutions that empower consumers to manage their accounts online. Headquartered in Buffalo, NY, USA.

Cognigy Use Case

AI-powered customer service automation over phone and webchat

Results

• 10x faster market growth through Cognigy.AI
• Virtual agents serve 200,000 customers a month
• Workforce equivalent of 1,000 human agents

The Challenge

CRMG planned to revolutionize the industry of debt collection. The idea was to have debt collection as-a-service and standardize the payment process. David Morgan, CEO and Chief Information Officer, explains: “Financial literacy is rarely taught in school, if at all. It is very discomforting to receive a call from a debt collector – people feel judged.”

CRMG’s vision was to serve customers in a better way: to give them the ability to self-control their debt payment, and by putting conversational AI upfront, let customers choose their preferred payment plan online or over the phone.

CRMG tried using Google and IBM to build their desired use case, but the solutions did not meet CRMG’s vision – still, they believed the technology was available and continued their search until discovering Cognigy.

The Solution

By implementing Cognigy.AI as their conversational AI platform, CRMG was able to carve out the use case as visualized.

David Morgan explains: “Having the AI-in-the-box approach, which is offered by Cognigy, is a brilliant idea and sets Cognigy.AI apart from the rest. All we had to do was look into the data fields and relay information, the rest is the technology.”

The CRMG bot conducts outbound calls, sends out emails and phone messages and is available over live chat online.

Customers accept it very well, engage with the bot naturally and decide on their own terms how much and when to pay back. This gives people the control they were lacking with the classic model of debt collection. CRMG’s unique approach is to give the customer full transparency and online insights in their payment plans, over the phone or webchat, which is available in 30 languages.

The Impact

CRMGs virtual agents process more than 20,000 calls a day, serving 200,000 customers a month. Normally, this volume would require 1,000 human agents to support. Customers engage with the bot more easily and settle their payments faster. CRMG was able to grow 200% every month in their first quarter as a Cognigy customer.

The biggest achievement for David Morgan is that technology-driven debt collection has had a positive effect on an industry that is normally negatively associated. Customers are thankful to be able to talk to a robot and this increases their engagement and overall attitude.

The virtual agents are also constantly improving, with calls decreasing from six minutes to two minutes through effective machine learning.

“With Cogniy.AI we are able to mirror human behavior and address customers in natural language. Therefore, we have scaled in this industry so fast and effectively, reaching benchmarks and new heights within two years that otherwise would take 10-20 years to reach.”  Joseph Tomasello, Principal Chief Operating Officer & David Morgan, CEO and Chief Information Officer