EXUS Write - Off

EXUS Write-Off Management is responsible for the calculation of account balances after an account has been written off and is no longer monitored in the core banking system. Being a fully integrated component of EFS, it also provides all tools necessary for the segmentation and design of recovery strategies for this part of the portfolio. Through EXUS Write-Off Management, the financial institution may configure how payments, expenses or interest calculation affect certain balances. Transaction types are the heart of the Write-Off module. Each transaction type contains its own set of parameters that define the overall behavior. EFS allows for unlimited different transaction types to be configured. Transaction types run in a hierarchical order, according to the hierarchy configured by the business user.
Depending on the transaction type configured, the business user can set (for example):
· The start date, which can be based on entry business rules or it can be a static date or a date based on a date metric
· The order according to which a payment will reduce claims, e.g. 1st expenses, 2nd interest and 3rd capital or the percentage according to which the payment will be split into different claims
· The interest rate, in case of interest calculation, together with lower and upper limits, the claim according to which the interest will be calculated, the claim to which the calculated interest will be added and also the execution frequency (daily, monthly, etc.)

Support for multiple claims

EFS may support the calculation of different claims for the same account. In general, EFS may support multiple concurrent claims, such as Capital, Interest, Expenses, Accruals, etc. A claim may be updated by events that happen in the system, including payments made, expenses registered or interest calculation. Which events are going to affect which claims and in what way, is configurable by end user though different transaction types.

Full auditing of transaction

Each transaction type in EXUS Write-Off Management generates a transaction for each account that affects. The transaction will contain the actual amounts to be applied at each claim. The system keeps full daily snapshots of all transactions and claim balances for each account. The Write-Off execution engine runs in a batch mode through a dedicated EFS flow.

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EXUS provides specialized software solutions for financial institutions, banking, telecoms, utilities.
For more information about our products and services please contact:  info@exus.co.uk