Standardize Your Past Due Loan Collections
The effective management of past due loan collections is a concern for financial institutions of all sizes. To this end, there are many tasks involved in the effective administration of these loans, not least of which is consistent application of collection policies and procedures.
COLLECT™ streamlines collection efforts by providing for standardization, automation and contact management. Using COLLECT™, the collector is automatically assigned and client-defined rules are established for collection procedures.
Additionally, because comprehensive and accurate data is vital to collection efforts, the system incorporates collateral and cosigner information to be displayed on-line and included in customer notification.
In addition, COLLECT™ maintains a chronological archive of all collection activity for each loan including letters sent, collector comments and collector reassignments. Management reporting also provides a record of all collection activity based on a specified date range.
Collectors can also use COLLECT™ to schedule "alerts" for future activity. This feature allows for a date and time to be entered as well as an alert message. At the specified time, an on-screen alert will be displayed as a reminder. If warranted, the capability also exists to assign an alert to another collector.
To discuss COLLECT™ in more detail or receive additional information,
contact us via email at info@centrixsolutions.com or call 402.488.3990.
