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 and to see screens and functionality,
contact us via email at info@centrixsolutions.com
or call 402.488.3990.
