Interactive Voice Response (IVR)

Interactive Voice Response (IVR) Definition: Interactive Voice Response (IVR) is the technology that allows computers to interact with humans through the use of voice and DTMF tones inputted via a keypad (e.g., 'Press 1 to pay now').

Why it matters in Debt Collection

• Considered 'legacy tech' in modern collections.
• High drop-off rates because borrowers dislike robotic navigation menus.
• Rapidly being replaced by Conversational AI, which acts indistinguishably from a human agent.