NPAs can be daunting and financial institutions are on a constant lookout for technologies that can help them improve the collection process to recoup debts and mitigate loss. Loan collection remains a complex & time-consuming process. Manually assigning tasks and systems operating in silos only adds to the list of challenges faced by the collections team. Hence it’s imperative for institutions to have a rules-driven automated collection process that can help in real-time decisions and tackle the complexities across several stages in the collection cycle.
This can only be enabled by a robust collection system that not only helps in optimizing the process but also helps institutions retain customers and open up cross/up-sell opportunities to drive revenue.
Trustt’s Collections Management System allows lending institutions to configure operationally-optimised collections processes and manage them. It is also mobile-enabled to empower field collection agents. The unified debt-management module allows the business to customise collection processes and create seamless data connectivity between various systems in the business ecosystem. It also maintains regulatory compliance and conducts comprehensive monitoring, reporting and audit trail creation.
Trustt Collection Management System enables institutions to identify user behaviour and assign a risk associated with it by evaluating and maintaining the response pattern of the customer to various touchpoints. It also manages the varied roles involved in the collections module, assigns cases to them and records responses in the system for further assignment.
Trustt platform leverages multiple micro-services to handle complex business activities that require a mix of human and digital actions, such as the interaction of the collection agents with the borrowers at different touch points (for example, Tele-caller interaction on calls, field collector on field visits, pre-due notifications, etc)