SmartCollect121 is a world class debt collection management, recoveries and credit reporting solution
designed to empower financial institutions to manage their debt efficiently and effectively . From its
inception, SmartCollect121 has been designed and developed as an end-to-end debt management and recovery
software application at the heart of cost efficiency, workflow management, compliance, collections and
The system design is based on simplicity, workflow efficiency, information availability and operator effectiveness. In comparison to other available debt collection systems, further measures have been taken in order to better understand the business processes, regulatory framework, debtor profiles and reporting requirements.
SmartCollect121 has been designed to be configured to financial institutions specifications for managing the entire collections workflow with an ability to provide:
SmartCollect121 is a highly customisable, modular solution that can integrated with a wide range of client systems and data sources. An agile implementation model enables SmartCollect121 to achieve a much quicker return on investment through earlier and faster collection of the outstanding debt.
SmartCollect121's architecture ensures full and seamless integration with all other IT systems applicable to the collections process, including: core banking. including billing systems, CRM/ customer information systems, mail houses, messaging systems, provisioning systems debt recovery agencies, credit bureaus and third party analytics engines.
SmartCollect121 is a highly sophisticated debt management decision engine in the financial services sector and the systemís effective functionality makes it irreplaceable for organisational debt management.
With all capital expenditure under intense scrutiny, the system selection criteria now more than ever needs to focus on overall cost of ownership and return on investment to the business.
Software solution selection can be a torturous process. As well as the standard price/ feature comparison, the evaluation of numerous criteria such as technology platform, system architecture, service and support and even corporate vision has become an integral part of the selection process.
However, in this environment of escalating losses, priority must be placed on those areas that will count most. Four key collections system attributes have emerged as having the greatest impact on a company's bottom line.
|Features and Functionality||Description||Benefit|
|Streamlined Collections Workflow||Allows a financial institution to have a strict control of its collections process and policy. Module has the capability to automate the follow-ups, diarise, exception handling, skill set referrals etc.||Process and Policy Compliance
Increased Customer Experience
|Automated Outbound Communication||This module has the ability to automate all standard outbound collection letters, SMS and other customer reminders||Cost Savings and Increased Productivity
Increased Customer Experience
Reduce Manual Account Diarising
|Collections Strategy Manager||Module has the capability to change its collections strategy using an admin portal and by incorporating strategies based on individual customer behaviour, risk segments etc.||Collections Cost Efficiency
Increased Customer Experience
|Call Centre Campaign Manager||Campaign Manager has the ability to create collections campaigns based on urgency and utilise collectors based on their experience and skillset||Collections Productivity
|Champion/Challenger Management||Collections Managers can change strategies easily using Champion/ Challenger and filtering tools to test new strategies against tried and tested strategies, in a real-time, low-risk environment||Better Customer Experience
Collections Efficiency Increase
Improvements in Collector Performance
|Design Simplicity||Designed to be simple and easy for an operator to understand||Easy to train and ramp up collection officers|
|Dynamic Segmentation||Dynamic segmentation SmartCollect121 can segment customers into highly specific customer types according to a wide range of variables, to provide greater flexibility in managing customers and to assign accurate collections priority.||Increase Customer, Introducer and Client Experience Minimise complaints and compliance issues|
|Customer Relationship Management||Has the ability to keep customer contact information up-to-date via the SMS return and mail return smarts.||Better Customer Experience
Increased Customer Compliance
|Access to Quality Data||Increased quality of data due to system configured business rules, field drop downs and data capture smart logic.||Decision and Reporting Accuracy|
|Business intelligence||System has in built advanced business intelligence functionality, enabling managers, team leaders and system administrators to monitor the effectiveness of the collections system, portfolio behaviour, agents performance and to highlight areas that are performing well, while identifying those areas that require further enhancement.||Increase Collections Efficiency
Obtain Information to Alter Collection Strategies
|Enhanced Reporting||Leverage System Reporting, DWH Reporting feeds and Automated Reporting Tools||Product and Portfolio Level Reporting
Collection Performance Reporting
Customer Behaviour Trend Reporting
|Controls and regulatory requirements||System has in-build configurable capability to implement process triggers, policy controls and regulatory standards to avoid malpractices and minimise human error||100% Policy, Process and Regulatory Compliance|
|Seamless Integration||Its software architecture ensures full and seamless integration with all other IT systems applicable to the collections process, including core banking, data warehousing, API's, CRM/customer information systems, document management systems, messaging systems, mail houses, provisioning systems and third party analytics engines.||Seamless integration with 3rd Party Systems|
|Agile and Faster Implementation||An agile implementation model enables SmartCollect121 to be implemented in record time and achieve a quicker return on investment through earlier and faster collection of the outstanding debt.||Low Cost of Implementation
Quicker Implementation of the System and Future Changes
|Credit Bureau Integration||Ability to manage all credit bureau reporting requirements as well as capability to interact with bureau at a customer level and deliver credit alerts.||Lower Losses and Smarter Management of the Portfolio|
|Agency Manager||Agency management module is capable of allowing the financial institution to outsource its collections function , whilst maintaining a strong grip of its policy and procedures||Policy and Process Compliance
Lower Cost to Collect
SmartCollect121 is designed to operate as an independent system within the
All it needs is daily delinquency report and customer contact information inputs through manual feeds or automated uploads.
It can be customised easily to meet each institutions strategies and requirements.