Systems and methods for automatic classification of loan collection actions
Systems and methods for automatic classification of loan collection actions are disclosed. An example system may include: a data collection circuit to interpret interactions among entities related to at least one transaction of a first set of loans, wherein the at least one transaction involves a first collection action of a set of payments corresponding to the first set of loans; an artificial intelligence circuit to classify the first collection action, wherein the artificial intelligence circuit is trained on the interactions corresponding to the first set of loans; and a robotic process automation circuit that is trained on the interactions and a set of loan collection outcomes corresponding to the first set of loans to implement a second loan collection action on behalf of a party to a second loan.
1. A system, comprising:
a blockchain service circuit structured to interface with a distributed ledger and including a first application programming interface (API);
a data collection circuit that receives and analyzes digital data from at least one of: an Internet of Things (IoT) system, a camera system, a networked monitoring system, an internet monitoring system, a mobile device system, a wearable device system, a user interface system, or an interactive digital crowdsourcing system, wherein based on receiving and analyzing the digital data, the data collection circuit interprets interactions taken among entities related to at least one transaction of a first set of loans, wherein the at least one transaction involves a first collection action of a set of payments corresponding to the first set of loans; and
an artificial intelligence circuit that classifies the first collection action based on historical interactions taken among the entities corresponding to the first set of loans as interpreted by the data collection circuit, wherein the artificial intelligence circuit is trained on the historical interactions taken among the entities corresponding to the first set of loans as interpreted by the data collection circuit,
wherein the artificial intelligence circuit includes a robotic process automation circuit,
wherein the robotic process automation circuit communicates with the first API of the blockchain service circuit to record a set of loan collection outcomes and the first collection action corresponding to the first set of loans in the distributed ledger, and
wherein the artificial intelligence circuit iteratively trains, using a training data set including the interactions taken among the entities related to the at least one transaction of the first set of loans as interpreted by the data collection circuit and the set of loan collection outcomes corresponding to the first set of loans, the robotic process automation circuit to:
configure a data collection and monitoring action of the data collection circuit based on an attribute of a second loan so that the data collection circuit monitors an outcome of the second loan and a collateral for the second loan,
implement a second loan collection action on behalf of a party to the second loan based on the outcome of the second loan and the collateral for the second loan as monitored by the data collection circuit,
update the training data set based on the outcome of the second loan as monitored by the data collection circuit, and
communicate with the first API of the blockchain service circuit to record the outcome of the second loan and the second loan collection action in the distributed ledger by generating one or more blocks containing data corresponding to the outcome of the second loan and the second loan collection action, generating one or more hash values of the one or more blocks, and linking the one or more blocks to the distributed ledger via the one or more hash values.
2. The system of claim 1 , wherein the second loan collection action is at least one of: initiation of a collection process, referral of a loan to an agent for collection, configuration of a collection communication, scheduling of a collection communication, configuration of content for a collection communication, configuration of an offer to settle a loan, termination of a collection action, deferral of a collection action, configuration of an offer for an alternative payment schedule, initiation of a litigation, initiation of a foreclosure, initiation of a bankruptcy process, initiation of a repossession process, or placement of a lien on collateral.
3. The system of claim 1 , wherein the set of loan collection outcomes is at least one of: a response to a collection contact event, a payment of a loan, a default of a borrower on a loan, a bankruptcy of a borrower of a loan, an outcome of a collection litigation, a financial yield of a set of collection actions, a return on investment in collection, or a measure of reputation of a party involved in collection.
4. The system of claim 1 , wherein the entities are a set of parties to a loan transaction.
5. The system of claim 4 , wherein the set of parties includes at least one of: a primary lender, a secondary lender, a lending syndicate, a corporate lender, a government lender, a bank lender, a secured lender, bond issuer, a bond purchaser, an unsecured lender, a guarantor, a provider of security, a borrower, a debtor, an underwriter, an inspector, an assessor, an auditor, a valuation professional, a government official, or an accountant.
6. The system of claim 1 , further comprising at least one user interface configured to interact with at least one party involved in a set of lending processes.
7. The system of claim 1 , wherein upon completion of negotiation of a collection process a smart contract for a loan is automatically configured by a smart contract circuit based on an outcome of the negotiation.
8. The system of claim 1 , wherein the artificial intelligence circuit includes at least one of: a machine learning system, a model-based system, a rule-based system, a deep learning system, a hybrid system, a neural network, a convolutional neural network, a feed forward neural network, a feedback neural network, a self-organizing map, a fuzzy logic system, a random walk system, a random forest system, a probabilistic system, a Bayesian system, or a simulation system.
9. The system of claim 1 , wherein the entities each comprise at least one of: a lender, a borrower, a guarantor, equipment related to the first set of loans, goods related to the first set of loans, a system related to the first set of loans, a fixture related to the first set of loans, a building, a storage facility, or an item of collateral.
10. The system of claim 1 , wherein the first collection action is at least one of: an initiation of a collection process, a referral of a loan to an agent for collection, a configuration of a collection communication, a scheduling of a collection communication, a configuration of content for a collection communication, a configuration of an offer to settle a loan, a termination of a collection action, a deferral of a collection action, a configuration of an offer for an alternative payment schedule, an initiation of a litigation, an initiation of a foreclosure, an initiation of a bankruptcy process, an initiation of a repossession process, or a placement of a lien on collateral.
11. The system of claim 1 , further comprising:
the data collection circuit receiving and analyzing the digital data from the IoT system including a plurality of IoT devices that monitor the entities for the data collection circuit to interpret the interactions among the entities,
wherein the data collection and monitoring action of the data collection circuit includes applying the plurality of IoT devices to a set of domains; and
an interface circuit between the plurality of IoT devices of the data collection circuit, the artificial intelligence circuit, and the robotic process automation circuit, and including a real-time operating system that schedules data transmissions from the plurality of IoT devices,
wherein the interface circuit encrypts the data transmissions from the plurality of IoT devices for secure communication and synchronizes use of the plurality of IoT devices including at least one of a sensor or a camera.
12. A method, comprising:
using a data collection circuit, receiving and analyzing digital data from at least one of: an Internet of Things system, a camera system, a networked monitoring system, an internet monitoring system, a mobile device system, a wearable device system, a user interface system, or an interactive crowdsourcing system;
based on receiving and analyzing the digital data, interpreting, using the data collection circuit, a plurality of interactions taken among entities related to at least one transaction of a first set of loans, wherein the at least one transaction involves a first loan collection action of a set of payments corresponding to the first set of loans;
training an artificial intelligence circuit on historical interactions taken among the entities corresponding to the first set of loans as interpreted by the data collection circuit;
classifying, using the artificial intelligence circuit, the first loan collection action based on the historical interactions taken among the entities corresponding to the first set of loans as interpreted by the data collection circuit, wherein the artificial intelligence circuit includes a robotic process automation circuit, the robotic process automation circuit communicating with a first application programming interface (API) of a blockchain service circuit to record a set of loan collection outcomes and the first loan collection action corresponding to the first set of loans in a distributed ledger;
iteratively training, using the artificial intelligence circuit, the robotic process automation circuit on a training data set including the interactions taken among the entities related to the at least one transaction of the first set of loans as interpreted by the data collection circuit and the set of loan collection outcomes corresponding to the first set of loans, to:
configure a data collection and monitoring action of the data collection circuit based on an attribute of a second loan so that the data collection circuit monitors an outcome of the second loan and a collateral for the second loan;
update the training data set based on the outcome of the second loan as monitored by the data collection circuit; and
communicate with the first API of the blockchain service circuit to record the outcome of the second loan and a second loan collection action in the distributed ledger by generating one or more blocks containing data corresponding to the outcome of the second loan and the second loan collection action, generating one or more hash values of the one or more blocks, and linking the one or more blocks to the distributed ledger via the one or more hash values.
13. The method of claim 12 , wherein the second loan collection action includes at least one of: an initiation of a collection process, a configuration of a collection communication, a scheduling of a collection action, a referral of a loan to an agent for collection, a configuration of an offer to settle the second loan, a configuration of content for a collection communication, a termination of a collection action, a deferral of a collection action, a configuration of an offer for an alternative payment schedule, an initiation of a litigation, an initiation of a foreclosure, an initiation of a bankruptcy process, an initiation of a repossession process, or a placement of a lien on a collateral of the second loan.
14. The method of claim 12 , wherein the set of loan collection outcomes includes at least one of: a response to a collection contact event, a payment of a loan, a default of a borrower on a loan, a bankruptcy of a borrower of a loan, an outcome of a collection litigation, a financial yield of a set of collection actions, a return on investment on collection, or a measure of reputation of a party involved in collection.
15. The method of claim 12 , wherein upon completion of negotiation of a collection process a smart contract for a loan is automatically configured by a set of smart contract services based on an outcome of the negotiation.
16. The method of claim 12 , further comprising providing a user interface to a party of the second loan, and notifying the party of the second loan of the second loan collection action.
17. The method of claim 16 , further comprising initiating the second loan collection action in response to an input from the party of the second loan to the user interface.
18. The method of claim 12 , wherein the first loan collection action comprises at least one of: an initiation of a collection process, a configuration of a collection communication, a scheduling of a collection action, a referral of a loan to an agent for collection, a configuration of an offer to settle the second loan, a configuration of content for a collection communication, a termination of a collection action, a deferral of a collection action, a configuration of an offer for an alternative payment schedule, an initiation of a litigation, an initiation of a foreclosure, an initiation of a bankruptcy process, an initiation of a repossession process, or a placement of a lien on a collateral of the second loan.