CRIF's 360 Degree Debt Collection System

Companies in the modern era have the opportunity to abandon traditional methods and adopt digital data-centric processes that completely revolutionize the payment collection process. CRIF's comprehensive solutions enable companies to streamline their contact collection management system, providing a transparent and scalable set of procedures tailored to their needs. Moreover, these solutions minimize manual intervention in repetitive tasks, ensuring that flexibility, security, user-friendliness, and efficiency remain uncompromised. The data-driven debt management and collection system efficiently connects various records and contacts through a simple navigation system, offering a comprehensive and user-friendly approach to managing multiple records. Additionally, the debt collection solution includes multiple shortcuts that facilitate easy and rapid filtering of records.

 

Right from the on-barding process to executing the necessary functionalities, the debt management and collection system takes care of the overarching setup. This also means that the debt management and collection system takes care right from the early collection processes to the legal frameworks.

Companies today have different internal policies in place for collections. These policies are used to segment the customers for prioritizing collections. The collection management system allows companies to automate these functionalities without any coding. The automation brings in efficiency in a few clicks, unlike any other debt collection solution.

The importance of having a collection management system with an intuitive interface cannot be underestimated. The contact collection management system by CRIF brings a flexible working design to meet the myriad demands of the customers, ensuring the collection management system caters to everyone.

The collection management system harnesses the power of analytics and statistics on application data apart from other data points to help analyse the risk to make informed decisions. The analytics is also helpful in improving collection, reducing write-offs, decreasing staff costs and improving the overall efficiency.

CRIF Contact Collection Process Overview

Business People 2 320

Segmentation

The contact collection management system accepts all credit products, right from credit cards to mortgages to personal loans. The segmentation process kicks in based on the previous collection results, debtor score, and product.

Process definition

To maximize collection and efficiency, the solution can be defined based on the process ensuring a balance between manual and automated processes.

Business People 8 400
Business People 6 320

Execution

The contact collection management system then allows companies to manage work escalations and queues enabling contact-free configuration with the ability to integrate seamlessly with different communication gateways.

Analysis

The holistic solution has an in-built reporting function that is paired with monitoring dashboards with easy analytics.

Business People 11 400

CRIF’s Contact Collection Management System is the one-stop solution for businesses to have an integrated collection platform that allows them to define, execute and refine all the collection strategies for products and consumer segments.

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