Debt Collection
Effective debt collection is crucial for financial stability. eBanqr provides specific functionalities to manage debt collection and arrears, primarily through its provisioning and write-off mechanisms, complemented by client risk management tools and operational collection sheets.
Intelligent Debt Collection for Sustainable Recovery
Benefits:
- Increased recovery rates and reduced bad debt.
- Improved efficiency of collection teams.
- Preservation of customer relationships through structured communication.
- Data-driven decision-making for collection strategies.
- Consistent and compliant collection practices.
Debt Collection Features
- Collection Sheet Functionality:
- Individual & Group Collection Sheets: Practical tools for recording repayments, accessible at group or centre levels.
- Bulk Entry: Supports bulk entry of repayment data for efficiency.
- Payment Application Order: Payments are applied in a predefined order: overdue charges, then one-time fees, then recurring fees.
- Partial Repayments: Automatically transfers unpaid amounts to the next payment as overdue charges or categorizes them as partial penalty repayments.
- Automated Communication for Reminders:
- Event-Based SMS Messaging: Sends automated messages (payment reminders, receipts) triggered by specific events.
- Configurable SMS/Email Gateways: Connects with any SMS gateway (with an API) and any email provider.
- Loan Write-Offs: Loans can be formally written off and automatically transitioned into Non-Performing Asset (NPA) status based on arrears days.
- Client Risk Management for Delinquency:
- Client Monitoring: Tracks client behaviours to identify early risk areas.
- Credit Scoring: Facilitates credit scoring based on organizational criteria, including homegrown models or external machine-learning integration.
- Customer Blacklist: Enables blacklisting high-risk clients.