Direct Debit has been at the forefront of debit order collections for the last century. Since the addition of the EDO (NAEDO and AEDO) debit order services in 2006, to complement the existing EFT debit order service, not much has changed in the debit order collection space.
Direct Debit is now planning the first release of its flagship intelligent debit order or IDO debit order facility. This revolutionary facility is currently in beta and only available to a select group of Direct Debit customers.
Intelligent Debit Order
IDO is new debit order solution that makes use of artificial intelligence to learn when your customers have funds available. Once a customer has been analysed IDO ensures the best possible debit order collection rates via existing EFT and EDO collection channels.
The intelligent debit order facility continually monitors collections patterns and intelligently switches transactions between various debit order facilities. Maximising cost saving and increasing collection rates.
IDO may be used in conjunction with an existing EFT and NAEDO debit order facility. Intelligent batches are automatically created based on tried and tested algorithms. Direct Debit processes these batches as normal and recon reports are provided.
There will be no additional cost to make use of the IDO collection facility. Intelligent debit order will available to all Direct Debit customers as a percentage share of the actual collection fees saved. We believe if IDO does not save you money, it shouldn't cost you anything.
