Chennai (India) / Turkey, May 23, 2016:
Intellect Design Arena Limited, the world's only fullspectrum suite of consumer banking products, today announced that Halk Bank, the largest bank in Turkey has partnered with Intellect to automate their Debt Management processes. Intellect’s Debt Management System will enable the Bank to manage its collections and recoveries more effectively and efficiently.
The global lending portfolio is expected to be $38 trillion by 2019, growing at an average of 7.9% CAGR. With increasing loans and high expected levels of delinquency, there is an increasing emphasis on strong debt management processes to devise powerful strategies for timely collection. Banks are spending to acquire customers and retain them on the one side, and on the other, they are also spending on collecting owed debt.
Designed with a superior collection strategy, Intellect Debt Management system significantly reduces delinquencies and Non performing loans (NPL). Built around the business and operations strategy, Intellect drives deep differentiation in Debt Management for revenue protection and maximisation.
Hasan Unal, Deputy General Manager, Halk Bank said, “We have chosen Intellect to automate our Debt Management Processes. We found Intellect Debt Management solution to be functionally rich with faster implementation cycle and global best practices; this strong value proposition made this our compelling choice. We believe this transformation initiative will ensure effective collection strategies for us and deliver value-driven experience to our customers”
Commenting on this win, K Srinivasan, President, IMEA Geography, Intellect Design Arena said, “We are delighted to announce our first win for Intellect debt management solution at Halk Bank, one of the largest public sector bank in Turkey. We stay committed in providing Halk Bank with an automated, fully integrated & proven technology solution. Our solution has seen a high level acceptance in the Middle East markets and we are confident this win will open doors for more business in the turkey market for us”.
With the implementation of Intellect debt management, the productivity of agencies handling collections for the bank is expected to increase multifold. It will also provide constant feed back to the Origination process (customer acquisition process) with its multi dimensional portfolio performance monitoring tool to help the customer acquisition team to fine tune its processes from time to time based on feedback from the field.
The bank will be able to come up with new products to significantly increase its revenue from its lending activity. The cutting edge technology implementation is going to be customized in regional language (Turkish) for the bank.
About Halk Bank:
Halk Bank the region’s leading SME bank fulfilling all the requirements of modern banking while asserting a strong presence in retail services as well. Halk Bank continuously creates added value for customers, shareholders, and employees by effectively carrying out all its banking services with an awareness and understanding of its social responsibilities and duties; to contribute to the development of the banking industry and capital markets; to secure itself a respected position in the banking industry in our region and in the world.
About Intellect Design Arena Ltd
Intellect Design Arena Ltd, a specialist in enabling true Digital Transformations, is the world’s first full spectrum Banking and Insurance technology products company, across global consumer banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk & Treasury Management (iRTM), and Insurance (Intellect SEEC). With over 20 years of deep domain expertise, Intellect is the brand, progressive financial institutions rely on for digital transformation initiatives.
Intellect pioneered Design Thinking for cutting edge products & solutions for Banking and Insurance, with design being the company’s key differentiator in enabling digital transformation. FT8012, the world’s first design centre for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation addressing the growing need for digital transformation. With over 200 implementations, the company’s performance is driven by over 3,000 Intellect solution architects, domain and technology experts, with a presence in major global financial hubs around the world and fully supported by design centers in multiple geographies serving as centers of innovation, collaboration and digital transformation, please visit www.intellectdesign.com