With recent changes in economy, banking technology and increased competition, managing loan accounts is becoming more of a challenge for banks and financial institutions. Keeping in mind the spurt in demand for corporate and retail loans, bankers must be innovative in their approach to manage delinquencies. Automation is the key and hence empowering the front end collection officers with well automated delinquent account information and decision strategies has thus become imperative.
AGILIS LOAN COLLECTION SYSTEM
AGILIS Loan Collection System (LCS) is an user friendly, web based and workflow driven solution that allows banks and financial institutions to manage, monitor and control the delinquent loan accounts and automate the collection processes. Rule based Delinquent Account Classification Engine classifies and segregates all delinquent accounts into Early Alert Buckets and Non Performing Loan (NPL) Accounts.
Risk based Case Allocation Engine distributes the accounts in queues to Collection officers based on user defined logics for awareness calling, Reminders and follow-up activities. IVR and Dialer interfaces facilitates automatic recording of communication with the customers. AGILIS LCS facilitates capture of commitments by customers like Promise to Pay for reallocation of cases again to collection officers for follow-ups. Inbuilt correspondence and follow-up features gives complete control on all collection activities.
AGILIS LCS has facilities to manage Repossession of assets on defaults by customers, right from confiscation and warehousing to sale, auction or release of assets. Litigation Management module handles tasks related to legal proceedings and judgment. The Reporting suite of AGILIS LCS is designed for comprehensive portfolio management with industry standard reports.