For BFSI, collections, delinquency management and debt recovery is a key pain point with cost intensive manual processes, time delays and security concerns. The BFSI industry has a collections department that often works with empaneled call centers, agencies, pick up agents, collection agents and outsourced employees to manage defaulters.
Dista debt collections management solution enables banks and financial institutions to automate field collections with paperless payment processing, eliminating receipt books and tedious processes.
Problems solved by collections management software
- Manual capture of customer data with end of the day logging
- No visibility into field collection agents and their live status
- Huge paperwork with large collections cycle time
- Theft and identity fraud risks
Benefits of collections management software
Reduced risk of float money due to real time processing
Increased efficiency with transparency of payments
Instant receipt notification and faster recoveries
Reduced cost of collections with lesser visits and frauds
Features of collections management software
Summarized worklist view with real time status of cases allocated/payment received/ payment promised etc.
Automated customer segregation based on factors like delinquency, credit history, last payment made, income, age of the account etc.
Dynamic rule engine based case allocation to third party /own agents
Optimized visit plan factoring in the distance, amount due, days due, past records, proximity etc.
Mobile collections app
Workflow based collections process with system based triggers for pending /due /upcoming activities
Individual / group chat for assistance, FAQs, emergency and escalation
Collection agent tracking
Real time visibility of field agents and actions by geo-coordinates through GPS
Electronic payment details capture with real-time receipt generation
Cash / cheque based payments with instant notification through SMS/email
Seamless bi-directional data transfer with core banking systems, credit management system, loan management system, CRM etc.
Analytics and reports to check time spect with customer, route deviations, double booking etc