Welcome to the 1st edition of EXUS Collections Journal in 2020!

We want this newsletter to be valuable for your organization and share useful information that will improve our collaboration and collection operations specifically in your organization.

 

Debt collections teams facing the Coronavirus outbreak

The ongoing situation with the Covid-19 pandemic has raised concerns in the world of debt collections. Although different countries are being affected on different levels, most are expected to experience moderate to serious turbulence and BAU will be redefined, at least for the foreseeable future. Call centers are expected to become understaffed or even shut down operations. Field collectors should probably be advised to stay at home and therefore debtors will not be physically reached. Debtors themselves are rightfully trying to remain safe and many of them work from home, also avoiding unnecessary visits, such as the one to a bank’s branch in order to make a payment.

 

Here are measures that some of our customers are already putting in effect :

Shifting of call centres to Work From Home, utilising EFS’ architecture and infosec features. If faced with the situation where Call Centre Agents are forced to stay at home, EFS can still help maintain operations:
Agent access:
EFS is web enabled. It is advised to set up VPN access to the EFS application server so that agents can log on as usual using their own home computer or laptop.
Making Calls:
This depends on whether a Dialler is used or not and on the specific Dialler set up.
If there is a dialler, then the proposed solution is to assign the landline or mobile telephone number of the particular agent in the dialler so that calls are forwarded to that number (however at an increased communication cost)
This scenario allows for the least service disruption and enables seamless update of operations data into both EFS and the Dialler.
If there is no dialler then the proposed scenario is to switch EFS into “One Screen” mode where agents will use the Get Next button to get their next case and dial it manually using their own mobile or fixed phone.
  • Identification of “vulnerable” customers, using EFS’ scoring & segmentation tools, and definition of alternative “special” treatments for them using EFS workflows.
  • Compliance with new regulations enforced by local authorities to ease the burden from stressed debtors (i.e. debt holiday).
  • Offer online Self-Service portal for debt management to debtors, through EXUS Collection Self Service tool.
  • Activate 2-way communication through digital channels (i.e. SMS, WhatsApp, …) with distressed customers.

EXUS launches new version of EFS

A Roadmap to Success

A compilation of new capabilities will be released in April. The new features and enhancements demonstrate our continued investment to use advanced methods and machine learning capabilities.

Digital Channels

Two Way Digital Communication Channels “2DC” is a cost effective, modern and non-intrusive way for communicating with the customers. 2DC implements a chat-like interactive service with customers, utilizing a multitude of non-voice communication channels such as Email, Viber, Whatsapp, SMS etc. Customers are presented with a number of available options to select in order to resolve an outstanding debt, give a promise to pay or to be informed in general.

Strategy in one step

The new strategy designer in EFS simplifies the whole operating model of the collections department and further reduces the time to design, simulate and deploy a new strategy. The new graphical UI allows for greater simplification and makes design self-explanatory, intuitive and fun. The work of the business administrator is simplified, reducing significantly the time needed to apply changes in the production environment.

AdvancedAnalytics

Data Lists

Data Lists is a new feature that allows for comprehensive reporting on current portfolio data. Users are essentially able to create very detailed operational reports, with all fields on Account/Customer level, fields that are not normally transferred to the Data Warehouse which is more oriented to aggregated data.

New Standard Reports

V7 is now graphically and information enriched with several new out-of-the-box Dashboards that allow for comprehensive and user-friendly monitoring of your Collection business, at a glance. Below are some indicative dashboards for portfolio and collections performance monitoring.

EXUS Debt Collections & Recovery system gets

‘Depth of Customer Service’ award from CELENT

EXUS scored an almost perfect 5/5 across all categories
Most importantly, EXUS received the

XCelent Depth of Customer Service Award

ranked highest amongst all vendors participating in the study, based on end-user feedback.

 

EXUS scored an almost perfect 5/5 across all categories,

the highest amongst all vendors in each and every category
  • functionality,
  • ease of use,
  • technology,
  • integration,
  • implementation and post implementation.
End users scored EXUS with a total average of 4.9/5, with no other vendor/system achieving such score.
CELENT (Oliver Wyman Group ) has released its ABCD Vendor View - Global Edition report on “Retail Loan Collections Solutions” ! The 250 pages report, further to identifying the key market drivers pressuring financial institutions to re-evaluate and update their loan collections solutions, answers the question “Who are the leading collections vendors and what are their competitive differentiators?”. It is a powerful tool for organisations wishing to evaluate and select the best loan collections system from several options available in the market.

 

Craig Focardi, Senior Banking Analyst for CELENT, points:
with little analyst coverage of the retail loan collection technology market and large portfolios of unseasoned consumer debt, this report provides an independent and much-needed assessment of delinquency trends and retail loan collection technology solutions available on the market.
The full report is available to CELENT subscribed customers.

 

The report features the leading debt collections & recovery system providers in the world. CELENT has developed a framework for evaluating vendors, which is a standard representation of a vendor marketplace designed to show at a glance the relative positions of each vendor in four categories:
  • Advanced Technology,
  • Breadth of Functionality,
  • Customer Base (i.e., relative number of customers), and
  • Depth of Client Services

EXUS was ranked among the top 3 vendors in terms of Breadth of Functionality and Advanced Technology !

EXUS is a proven, modern loan collections system that meets the needs of all sizes of financial institutions. The solution covers the full lifecycle of collections and debt recovery, from disbursement through write-off or debt sale. The solution is flexible and feature rich, and capabilities can be quickly added as an institution’s needs evolve.
Following EXUS’ Best-in-Class award from Gartner a few years ago, this recent acknowledgement demonstrates EXUS commitment to providing financial institutions with the best debt collections technology in the world.

Customers’ Feedback

All information's are in one place, customer friendly - easy to use it.
… EXUS helped me apply advanced collection strategy based on risk characteristics and other strategies that caused an increase in collection efficiency and effectiveness
1. EXUS company has always listen their customers, adaptive and good support mindset. 2. They continuously improves their software packages. 3. Software; Easy to adapt, user platform, fast changing support.

SLA & Customer Service

At EXUS we continuously aim at improving the quality of service we provide to our clients, as well as our response speed. We understand how important this is to your organization.

Therefore, we are delighted to announce that we introduced a strict SLA and all customers invited to this service without extra charges.

EXUS Field Collector

Make every visit count

With the use of intelligent routing and a mobile app you can eliminate all manual work, human error, effort and cost. Our EXUS Field Collections app offers the ability to perform targeted visits based on an optimized plan that increases the probability of payment and hence increase the amount collected per unit of time. Field collectors are offered instant access to all customer data as well as the ability to register actions with support for geolocation information. Real time payments are also supported, meaning no valuable resources and time is wasted in performing unnecessary visits.  The mobile app can work in offline mode, especially in cases where the app cannot connect to the internet. Printing receipts and sending confirmation SMS and emails upon cash collection ensures transparency in the whole process. Once a visit is complete, the app automatically routes the field collector to the next one. During the day, a dashboard view provides real time insight on performance of the field collector both to him as well as to his supervisor.

EXUS Collections Self Service

Nowadays, there is a need for less-intrusive contact methods, such as using mobile communications, as well as self-service online payment plans. Unlike the past generation of debt-savvy delinquents, the new breed of debtors need a gentle touch. With the majority of population owning a smartphone and the majority of households having access to the internet, an online and mobile contact and payment strategy is an absolute must. Giving customers options is not only more convenient for them but it also encourages more people to pay: online via the website, via a link in an SMS, via an app, bank account, etc. EXUS provides a hassle free self-service debt solution. EXUS Collections Self Service helps organizations scale their collections capacity quickly and cost effectively through an online self-service collections tool, which targets specific customer segments proposing alternative debt settlement options. The substantial improvement in collections results, both in terms of quantity and quality, stems from the familiarity of modern debtors with this new-era tool. EXUS Collections Self Service is available on smartphones, tablets, PCs and can also interact via SMS with feature phones. The tool is pre-integrated with EXUS Collections application but may be integrated with other collections systems or even work stand-alone. It implements advanced security measures to guarantee privacy of customer data. The tool offers debtors a 24*7 service allowing for a private and rich experience which offers detailed information on debtors’ status and a variety of flexible options.

EFS Tasks functionality, available since version 6.08

 Often the agents treating with collections need to be able to register a task that should be accomplished in a future date and time.

This could be:

  • calling back a customer
  • Fill a document
  • check the status of an assigned work to a third party collaborator
  • file a legal action.

 

This feature allows defining tasks related with the Accounts.

From the Account Screen end user can create a new Task and give the date and time that this should be accomplished. Further description, or explanatory notes can also be added.

From the Tasks Screen the agent can review his tasks according to their status (open / closed) while the Supervisor can see all his own tasks plus those of his Groups/Departments/Company.

 

Working on behalf option is applicable in tasks as a User or a Supervisor can reassign task to another user in the Bank. By this way the Bank can ensure that important works will be fulfilled independently of sudden absences or other events.

 

Ask for your topic that you would like to cover in the next journal HERE

SLA & Customer Service

 

At EXUS we continuously aim at improving the quality of service we provide to our clients, as well as our response speed. We understand how important this is to your organization.
Therefore, we are delighted to announce that we introduced a strict SLA and all customers invited to this service without extra charges.

Hope you liked the 1st edition of EXUS Debt Collections & Recovery Journal

 

We welcome any feedback on what you liked or suggestions for what you’d like to see in the next edition.
Just send us an E-MAIL.

 

Best regards,

Niki SALIARI
Head of Customer Success

   

VANGELIS PTEROUDIS
Senior Account Manager