The payment behavior of the Swiss is not particularly good. Local companies spend an average of 59 days a year chasing late payments. At least that’s what it says in the “European Payment Report» the debt collection company Intrum, which processes payment claims for companies – and with its business model benefits from the delays.Nevertheless, it can be said that the lack of payment behavior ties up resources that companies could use elsewhere. A Berlin fintech wants to remedy the situation and is now coming to Switzerland. Pair Finance wants to use a self-learning algorithm to help companies hit the right tone with reminders and solve the problem more quickly.
According to the latest findings in behavioral psychology, defaulting payers should be categorized and addressed accordingly. Thanks to generative AI, the Pair Finance tool should not only be able to independently write emphatic messages, but also determine the optimal channel, time and frequency: Whatsapp, email, letter or personal contact?
At the same time, users should receive feedback on progress and forward-looking analyzes in data visualizations.
“Respectful treatment”
“We find an efficient and customer-oriented solution by treating our customers with respect,” says Pair Finance. If that doesn’t work, further “escalation levels” are planned, from legal proceedings to long-term monitoring.
Pair Finance does not disclose exactly what the latter means. However, the data collection that the company creates is questionable.
In order to typologize the customers, the company not only wants to receive customer data from the represented companies, but also obtain information from credit agencies, credit institutions and market data. In addition, data from social media or as part of e-mail identification should provide information about the socio-economic status and the corresponding communication. Finally, the fintech from Berlin wants to evaluate behavioral data such as availability, type of reaction or reaction speed in order to create a profile.
Anyone celebrating their doctorate in business administration on Facebook can expect a different speech than the party man on Instagram. The warning message shouldn’t always sound like the polite advertising example: “Hello Max, maybe you just overlooked an invoice, maybe you weren’t able to pay until now. No matter what the reason, we will find a solution together with you.»
Lock and delete concept
Pair Finance’s privacy policy also states: “We process personal data for the purpose of (further) developing new or existing products in an appropriately secured environment.” At the very least, the company promises a blocking and deletion concept for all processed data in its FAQs. The company is ultimately subject to the GDPR and in Switzerland to the new DSG.
In this country, the GmbH Pair Finance Suisse was already entered in the commercial register in May. Marko Kusigerski manages the Swiss business as Country Head Switzerland.
“Both the technology and the track record as well as the competence of the extraordinary team of Pair Finance will convince the demanding Swiss market,” the managing director can be quoted in a statement. Elsewhere it has worked. The company already has 250 employees in Berlin, Vienna, Amsterdam and Zurich.
2023-09-01 12:43:15
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