rt360 Collections Management System
Streamline debt collection and recovery
Streamline loan collection and recovery with an efficient collections management system
Underwriting a loan is just the first step. A borrower’s debt servicing capacity remains vulnerable to changes in business cycles, income, and cash flow levels throughout the credit lifecycle. With a multitude of factors playing into it, the average collections rate in the banking industry is currently pegged below 20% – the lowest in two decades. It has never been more important to stay ahead of the curve. But the biggest challenge of all? The lack of a structured loan collection approach, limited technological capabilities, and manual processes, makes it difficult to efficiently collect payments.
Unlock your institution’s full debt collection potential with rt360 Collections Management System. Increase resolution rates cost effectively through advanced technology enablement that underpins a robust collections strategy. Say goodbye to rudimentary systems and hello to a streamlined, automated collections management system that leverages the power of advanced AI/ML analytics. Prioritize your strategies, communicate effectively with customers, and stay on top of collections with comprehensive dashboarding and reporting.
Access our success story of how a leading Asian bank streamlined its collections process with ~40 bps slippage reduction using rt360 Collections Management System.
Key Functionalities
Prioritization & bucketing for targeted actions
Prioritization & bucketing for targeted actions
Achieve efficient collections with configurable prioritization rules, exception handling, and AI/ML-
based detection of self-cures and early payers.
Granular collections planning and tracking
Granular collections planning and tracking
Streamline collections planning with a user-friendly UI, customer- and collector-wise target
setting, configurable approval workflow, and on-the-spot decision-making with audit trails.
Effective collection strategy
Effective collection strategy
Optimize your collections strategy with recommendation engine, integrations to SMS/e-mail/payment gateways, customizable dunning letters, activity tracking, and centralized
document repository.
Insightful collection analytics & reporting
Insightful collection analytics & reporting
Gain insights and monitor performance with consolidated portfolio views, roll rates, forward
flows and other delinquency trends, efficiency reports, best time to call metrics, and PTP vs.
collection variance analysis.
Functional decomposition and application mobility
Functional decomposition and application mobility
Experience seamless deployment and scalable, automated solutions with flexible modular
deployment options, microservices-based architecture, open APIs, and data extraction bots.
Prioritization & bucketing for targeted actions
Prioritization & bucketing for targeted actions
Leverage rt360 Collections Management System to achieve efficient debt collection with configurable prioritization rules, exception handling, and AI/ML- based detection of self-cures and early payers.
Granular loan collections planning and tracking
Granular loan collections planning and tracking
Streamline collections planning with user-friendly UI, customer-wise and collector-wise target setting, configurable approval workflow, and on-the-spot decision-making with audit trails.
Effective collection strategy
Effective collection strategy
Optimize your collections strategy with rt360 Collections Management System’s recommendation engine, integrations to SMS/e-mail/payment gateways, customizable dunning letters, activity tracking, and centralized document repository.
Insightful collection analytics & reporting
Insightful collection analytics & reporting
Gain insights and monitor performance with consolidated portfolio views, roll rates, forward flows and other delinquency trends, efficiency reports, best time to call metrics, and PTP vs. collection variance analysis.
Functional decomposition and application mobility
Functional decomposition and application mobility
Experience seamless deployment and scalable, automated solutions with rt360 Collections Management System’s flexible modular deployment options, microservices-based architecture, open APIs, and data extraction bots.
Benefits
Reduction in bad-debts write-off
Through streamlined processes and cost efficiencies.
Higher collection efficiency
By leveraging an automated and intelligent collections machinery.
Effective customer engagement
Through detailed customer communication logs and proactive engagement.
Focus on growth
Underpinned by advanced technologies and a robust collections strategy.
Lowest TCO
With flexible commercial models and modular deployment options.
Extensive analytics
On-the-go planning, decisioning, dashboards & reports, and regional language enablement.
Value Proposition
Business first, technology next approach
Business first, technology next approach
Domain expertise and proven experience (OEM+SI) under one roof
Domain expertise and proven experience (OEM+SI) under one roof
Seamless integration with upstream and downstream systems
Seamless integration with upstream and downstream systems
Ready-to-use and cloud-ready solution with minimum effort for deployment
Ready-to-use and cloud-ready solution with minimum effort for deployment
Flexible commercials and deployment models
Flexible commercials and deployment models
Business first, technology next approach
Domain expertise and proven experience (OEM+SI) under one roof
Seamless integration with upstream and downstream systems
Ready-to-use and cloud-ready solution with minimum effort for deployment
Flexible commercials and deployment models
Products
rt360 Credit Risk Suite
A transformative product suite powered by AI/ML algorithms, data analytics, configurable workflows, and extensive reporting and dashboarding tools.
rt360 Early Warning System
Comprehensive, always-on early warning indicators powered by AI/ML to help bankers identify potential default, stress or fraud.
rt360 RAROC Calculator
Accurately assess customer profitability while making credit pricing decisions for RAROC calculation thereby increasing credit growth.
rt360 Collections Management System
Unlock your full collection potential and increase resolution rates cost effectively with advanced AI/ML technology that underpins a robust collections strategy.
rt360 Expected Credit Loss
Compute Expected Credit Loss as per regulatory, IND AS 109 guidelines, while addressing requirements such as PIT PD, and macro-economic factors.
rt360 Real Time Monitoring System
Enhance fraud detection and prevention with real-time monitoring, and facilitate proactive and preemptive actions.
Brochures
rt360 Credit Risk Suite
Get sustainable growth and maximized profitability powered by AI/ML algorithms, data analytics, configurable workflows, and extensive reporting and dashboarding tools.
Download Nowrt360 Early Warning System
Stay alert, efficient and profitable by identifying credit risks proactively and leveraging end-to-end predictive analytics.
Download Nowrt360 RAROC Calculator
Ensure dynamic risk-based pricing and efficient capital allocation with focus on maximizing profitability and driving sustainable growth.
Download Nowrt360 Collections Management System
Identify credit risks proactively, collect more, economically and at an accelerated pace by leveraging state-of-the-art predictive analytics.
Download Nowrt360 Expected Credit Loss
Recognize expected change in credit risk and onboard a framework to manage forward-looking credit loss. Adopt proven, scientific methods for computing credit losses.
Download Nowrt360 Real Time Monitoring System
Prevent frauds, monitor high-value, high-risk financial transactions in real/near-real-time. Get timely alerts that facilitate proactive and preemptive follow-up actions.
Download NowFrequently Asked Questions
A Collections Management System (CMS) is a specialized software tool designed to streamline and automate the process of managing overdue credit accounts and loan collection activities. Organizations involved in lending and credit services might need a CMS to enhance their debt and delinquency management capabilities, improve efficiency, and reduce the risk of financial losses. By employing a CMS, organizations can ensure consistent follow-up on overdue payments, implement standardized loan collection processes, and maintain detailed records of customer interactions and payment history, thereby optimizing their collection efforts and improving recovery rates.
Errors and inconsistencies in manual collection management can be significantly minimized by automating key tasks using a Collections Management System. Automation ensures that data entry, calculation, and reporting are consistently executed without human error. A Collections Management System can provide real-time updates and alerts to keep collection teams informed, enabling them to address issues promptly. Implementing standardized procedures and workflows within the CMS further enables delinquency management of accounts, reducing the likelihood of errors and enhancing the effectiveness of loan collection efforts.
A Collections Management System alleviates the burdens of manual collection management through automation, efficiency, and consistency. By automating routine tasks such as account tracking, communication with borrowers, and payment processing, a CMS reduces the time and effort required from collection teams, allowing them to focus on more complex cases. The system’s ability to provide real-time data and analytics helps in identifying delinquency patterns and assessing risk levels, enabling proactive management of potential issues. Moreover, a CMS standardizes collection processes across the organization, ensuring that all actions are in compliance with regulatory requirements and best practices. Through these capabilities, a Collections Management System significantly reduces the operational strain on staff, improves recovery rates, and contributes to a more positive customer experience during the collections process.
When evaluating Collections Management System for your organization, some of the key features to consider include automation capabilities that reduce manual workloads, advanced analytics for identifying delinquency trends, customizable communication templates for borrower outreach, and reporting tools for monitoring collection efforts. Integration with existing financial systems to ensure seamless data flow and a user-friendly interface are also crucial. Additionally, the ability to scale and adapt the system as your organization grows and the nature of delinquency management evolves is essential for long-term success.
Compatibility with industry standards plays a critical role in choosing the rt360 Collections Management System for several reasons. Firstly, rt360 ensures that the organization adheres to regulatory requirements and best practices in loan collection and delinquency management, mitigating compliance risks. It enhances operational efficiency by seamlessly integration with other financial systems and interoperability with partners and third-party service providers. This not only minimizes the likelihood of errors and omissions that can occur in manual processes but also enhances the overall effectiveness of the loan collection strategy. Its robust technology framework enables organizations to stay one step ahead and proactive in meeting compliance requirements in a changing regulatory landscape.
BCT Digital’s rt360 risk management product suite transforms the world’s leading enterprises, drawing on the strengths of next-generation technologies, sophisticated AI/ML models, data-driven algorithms, and predictive analytics. Its revolutionary Fintech, Regtech, and SustainTech solutions help enterprises optimize their core governance, risk, and compliance processes, enabling them to augment their positioning and go-to-market capabilities.
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