- Offers 90-day end to end digitalization of debt management business
Chennai (India), 12 February 2018:
Intellect Design Arena Ltd, a specialist in applying true Digital Technologies and a global leader in Financial Technology across Banking and Insurance, announced today the launch of Digital Debt Management system, IDM 18, a contemporary technology solution that can help banks and NBFIs in dramatically improving their recoveries, and reduce the stress on their financial assets.
With tightening credit policies, increasing pressure from the Regulators and digitalization, the debt management business is seeing rapid shifts in the market place. On one side, niche players have emerged that specialise in credit to a single segment and go all out to claim market leadership in that segment. On the other side the incumbent Financial Institutions rely on providing a comprehensive credit solution to their existing customers as well as new prospects. Both, while expanding their asset portfolio, continue to battle with increasingly complex Debt management processes.
Rajesh Saxena, CEO, Global Consumer Banking (iGCB), Intellect Design Arena Limited, said, “Intellect Digital Debt Management will enable banks & financial institutions significantly to increase recovery by applying bespoke collection strategies at the right time, enabled by intuitive segmentation and skill based routing of cases to the right collector. The system comes with over 200 collection strategies & pre-configured communication templates. Our team has been able to successfully create a 90 day implementation methodology to completely digitalise debt management for our customer banks & NBFIs”.
One of the prime drivers for a super-efficient debt management business would be highly data driven strategies. IDM 18 has been designed around completely data driven collections enabling the power of AI to be leveraged
The second driver, going forward would be in terms of equal importance to client relationship management and client retention, and not just restricted to the traditional focus ‘Recoveries’. Going beyond recovery, IDM 18 will assist in protecting and nurturing existing client relationships by providing personalized digital communication and context appropriate messaging. IDM 18 will also track customer service requests real time along with intelligent, automated communication to internal & external stakeholders.
IDM 18 comes with another powerful and differentiating functionality in the form of Field Collector Apps. Field collectors can collect payments and provide receipts instantaneously and perform various context-specific actions. The solution comes with real time location-tracking that can help the Supervisors / Collection heads to optimize work allocations or interventions.
A very exclusive functionality in IDM 18 is the Post write-off Recovery Management system that gives life to even loans that have been written off, with a specially designed functionality for maintaining, servicing and collecting from such loans
Intellect offers 90 day end to end digitalization of Debt management business for Banks & NBFIs.
About Intellect Design Arena Ltd
Intellect Design Arena Ltd, a specialist in applying true digital technologies, 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 and Markets (iRTM), and Insurance (Intellect SEEC). With over 25 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives.
Intellect pioneered Design Thinking for cutting-edge products and solutions for Banking and Insurance, with design being the company’s key differentiator in enabling digital transformation. FinTech 8012, the world’s first design centre for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation to address the growing need for digital transformation. Intellect generates annual revenues of more than USD 136 million, serving more than 200 customers through offices in 40+ countries and with a diverse workforce of more than 4,000 solution architects, domain and technology experts in major global financial hubs around the world. For further information on the organization and its solutions, please visit www.intellectdesign.com
For Media related info, please contact: Nachu Nagappan Intellect Design Arena Ltd Mob: +91 8939619676 Email: nachu.nagappan@intellectdesign.com | For Investor related info, please contact: Praveen Malik Intellect Design Arena Limited Mob: +91 8939782837 Email: Praveen.malik@intellectdesign.com |