By Nick Cherry, Divisional CEO, Phillips & Cohen Associates
Some moments are transactional; others are profoundly human. Some interactions follow a playbook; others focus on building a relationship. In the financial world, especially when families navigate the complexities of loss, that difference is everything.
The foundation of effective service is a single, powerful connection, and that is the moment a person feels truly heard. The vital challenge for the fintech industry, then, is how to use AI not to replace this moment, but to empower professionals to deliver it, every single time.
Keep in mind that human attention is a zero-sum game. An agent cannot be scrambling for data and showing genuine empathy at the same time. One will always suffer, and it will be the customer’s experience.
The practical role of AI is to take the data management problem completely off the table. Let the machine instantly provide context, summarize case histories, and flag compliance needs in the background. This allows the professional to dedicate 100% of their focus to the customer—listening, clarifying, and resolving issues—for a more focused, consistent, and effective human workforce.
How You Can Win Unscripted Moments In Debt Recovery
In any complex skill, true mastery comes from building intuitive reflexes, not just memorizing a playbook. Yet, for too long, training has focused solely on a set of rules or a handbook. Resources like policy manuals, workshops, and checklists may prepare professionals for the test but not for the game, where every interaction must always be unique. This results in a lack of manpower equipped to handle unscripted moments, such as explaining the complexities of probate to a grieving family member. That gap is due to the lack of practiced, confident judgment.
So how do you train for judgment, and not just rules? AI is bridging that gap by serving as a dynamic training partner that integrates learning into the daily work rhythm. Rather than relying on static content, it delivers personalized coaching in real time so your workforce builds that crucial muscle memory with every interaction. So when a difficult situation arises, the agent doesn’t need to recall a forgotten rule but will be guided by intelligent support that feels less like a script and more like instinct.
Here’s how that AI partnership works in practice. The system simulates the reality agents face by mirroring live calls with branching scenarios that cover the edge cases (those that don’t fit in a binder). Beyond training simulations, today’s technology also provides real-time agent assistance, analyzing voice interactions within milliseconds to deliver on-screen prompts that help agents spot missed nuances or recall key disclosures in the moment enabling them to provide better and more consistent customer outcomes. Together, these tools create a continuous learning loop: short refreshers before a call, intelligent guidance during it, and debriefs after. Because this practice is based on actual work, the lessons stick, and confident judgment carries over to subsequent conversations.
The Rise of Continuous, AI-Powered Learning
AI-powered learning is a strategic engine for building human capital. It moves beyond prewritten responses to build the intuitive judgment needed for high-stakes conversations. This quiet, consistent coaching compounds over time and turns the skill of your team into a measurable, scalable asset that operates with higher compliance, deeper confidence, and greater effectiveness.
As a result, it creates a powerful feedback loop for leadership that provides clear visibility without micromanagement. It also flags precisely where conversations falter or where compliance is weak. Leaders can then use this data to refine talk tracks and target training with surgical precision. This data-driven coaching ensures guidance is always auditable, aligned with policy, and calibrated by human supervisors who remain in the loop.
But the most critical outcome is when the system is finally designed to teach the “why,” not just the “what.” When a rule changes, the coaching changes with it and provides transparent explanations of the principles behind the guidance. Over time, your team will internalize this logic and will develop the confident judgment that allows them to navigate any situation with both compliance and care.
Humanizing Financial Recovery Through Technology
A common misconception about AI is that it dehumanizes all workflows and output. However, the real purpose of AI is to free-up humans from doing that manual work. The right technology provides professionals with more mental space for empathy by reducing the cognitive load of complex tasks. In probate and estate servicing, this is critical. When an agent is supported by intelligent tools, they can focus on the tone of the conversation. They don’t rush. They listen.
Handling sensitive financial conversations is far more common than many recognize. And with 43% of American consumers leaving behind outstanding debt, every one of those accounts represents a family needing guidance through a difficult time. This is where the human element is paramount, but it’s also where professionals need the most support. An intuitive system removes procedural friction and doubt to empower the agent further to be fully present and provide a grieving person clarity, not confusion.
This approach builds a powerful competitive advantage. When a professional can navigate a difficult conversation with unflustered confidence, they are already earning trust at a moment of extreme vulnerability. And that trust is the ultimate currency in any business. If you can deliver this level of focused, empathetic service consistently, you are demonstrating a deep operational discipline that fragmented, less-supportive competitors still struggle to materialize.
Shaping the Future of Ethical Collections
The future of this industry will not solely be won by the firms with the smartest algorithms, but by those who also use their algorithms to build the smartest teams. This requires a complete shift in thinking. Leaders should be encouraged to redefine the promise of FinTech, and that is not just to automate, but to empower. AI currently has an important role in managing transactional chat or voice interactions, quickly resolving routine questions or processes and the capabilities of this emerging technology will advance rapidly in the coming years to be able to handle much more sophisticated scenarios. But when customers need real help, empathy and human judgment make the difference. The true goal is to anchor professionals in their work with the confidence to handle every difficult conversation. The return on investment from this strategy is seen on the ground with fewer complaints, clearer resolutions, and more consistent service. This is how trust evolves into a measurable asset.
Ultimately, it is because this is the new standard. When technology is designed around human judgment and training is a core capability, families face fewer “unpleasant surprises,” professionals act with greater skill, and trust becomes the most durable thing we build in every conversation.
Author Bio:
Nick Cherry is the Divisional CEO of Phillips & Cohen Associates, the global leader in specialist debt recovery solutions. With nearly 30 years of experience in the financial services industry, Nick is a dynamic operational and strategic leader with a strong track record of delivering positive results and solutions for clients, partners, and colleagues. His core competencies include business transformation and growth, negotiation, regulatory compliance, operational management, sales, contact centers, digitalization, debt recovery, and debt purchase.
