An Illustrated Consumer Journey that Helps to Demystify Artificial Intelligence in Financial Services

ROCKVILLE, Md. -- The iA Institute announces the release of an illustrated brief titled, “The Consumer’s Credit-Collections Journey, Powered by Artificial Intelligence.” Designed for legislators, regulators, industry participants, and anyone seeking to get their arms around how the latest technology affects the consumer experience, the brief provides a plain-English overview of what the consumer sees, what’s going on behind the scenes, and examples of the companies that provide the technology.

The illustrated journey begins with a consumer’s application for credit and continues through purchases, payments, and dealing with possible life curves such as fraud alerts, identity breaches, late payments or collection notices.

“Applications of artificial intelligence of all shapes and sizes are entering the market at a staggering rate,” said Stephanie Eidelman, CEO of the iA Institute. “Many of those tasked with implementing or regulating these new applications struggle to even get a full picture of where they come into play in the consumer experience. This brief is meant to provide that picture so that stakeholders can then take the next steps to address—or to simply start asking the right questions about—the risks, the opportunities, and where they should focus their efforts.”

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