Italy’s largest Debt Recovery Firm, doValue, plans to incorporate artificial intelligence (AI) technology into its non-performing loans (NPLs) repayment business. By doing so, the company expects to reduce its servicing costs by 8% to 11% starting next year. Additionally, this adoption of AI is projected to increase the annual NPL recovery rate per asset manager by 4%.

In an emailed statement, doValue confirmed that its new AI solution will be rolled out in Spain during the third quarter of this year. The implementation process will be extended to the rest of the doValue group by the end of 2023. The company believes that it is reasonable to anticipate the achievement of these efficiency targets by 2024.

Furthermore, doValue has already fully implemented a search engine based on text mining in Italy. This search engine is expected to save the company between 35% and 40% of the time typically required to recover soured loans.

doValue currently manages approximately 120 billion euros in assets across Italy, Spain, Portugal, Greece, and Cyprus.

By embracing AI technologies, doValue aims to streamline its debt recovery processes, ensuring faster and cost-effective resolution for non-performing loans. This move reflects the broader trend of the finance industry adopting AI solutions to enhance operational efficiency and improve results.

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