Collections Guides

The UX of Debt Collections

All too often, using a bank’s system feels like going back in time. Banks need to modernise to address a fundamental disconnect between their processes and the modern world.
This EXUS' guide takes us back to the history of UX, talks about the behavioural economics of it and gives a holistic view of great UX in banking.

The Next 5 Years of Debt Collections

The next five years of debt collections is not quantum computing, it is an evolution and increasing embrace of today’s disruptive technology. This EXUS' guide takes a realistic look at the future of debt collections in retail banking.
Let’s look at how the next 5 years will be formed for debt collections. 

The Cultural Considerations of Collections

“Money is a lot more than just a means of exchange or a store of value. It carries cultural weight, and as you move across cultures, attitudes shift quickly”.
Getting that right is one giant leap towards improving the performance of debt portfolios. Click here to Download the free guide!

The Psychology of Debt Collections

Debt collections has experienced a revolution in customer service over the last few years. Technology has transformed what used to be a stressful, antagonistic activity into a cooperative, consumer-led one. 

Let’s look at a few ways you can combine psychology with technology to build a truly successful collections operation.

Generic vs Specialised Debt Collections Software

It’s not quite the Rumble in the Jungle, but choosing debt collections software is a heavyweight title fight. 
Here’s the main event: you already know the experienced heavyweight. Banks have long relied on generic systems for debt collections. Now let’s see whether the leaner, more athletic contender can claim the championship in this twelve round title fight.

The Importance of Managing Collections Teams

In a collections and recovery operation environment, effective personnel management is not just a competitive advantage, but a strategic priority for forward-thinking collections departments. But how do you manage collections teams effectively? 
The Managing Collections Teams Manual is designed to help. 
 

Collections and Recovery Best Practices Toolkit

Download our presentation on slideshare to find out more!

6 Actionable Steps to Improve Retail Banking Collections & Recovery

Download the guide and evaluate how “best practices” employed by top financial institutions in the world can be adopted by your organisation.

Build your successful, digital, customer-focused debt collections channel

Client focus in debt collections isn’t just a nice-to-have; it’s a central component in successfully recouping delinquent debts.
The good news is there’s a better, more modern way. Download the Free Guide and get ready to build your debt collections channel. 

Learn How Mauritius Commercial Bank Improved Performance

Find out how the bank positioned itself for collections and recovery success with new tools and practices. Click here to learn more.

More revenue. Better collections.

Download The Collections and Recovery Best Practices Manual to generate more revenue, improve collections and streamline operations.

Increase Revenue with Better Collector Communication

Excellent communication with customers is critical to improving collections and recovery. Discover how collectors can communicate like pros with this free guide.

What You Must Know Before You Buy

Download our free Collections and Recovery Software Purchasing Guide and learn how to choose, evaluate and purchase a C&R solution.

A Secret Weapon for Collections Success

This collections technology is a secret weapon that banks, telecoms and utilities use to boost profits and kept promise ratios: Click here to download "Why Your Organization Needs a Self-Service Collections Solution".

 

Adopt These 4 Emerging Loan Technologies to Thrive

Discover which technologies will help your business significantly reduce the cost of servicing non-performing loans in this free guide. Download it today!

Increase Collections while maintaining Customer satisfaction

Are you ready to improve customer service efforts and make measurable impact on your bottom line results today?

We invite you to download a free copy of the handbook and increase your customers' satisfaction along with your collections results.

Case Studies

Southeast Europe bank improves contact rates and decreases service cost per customer using EXUS Collections Self Service

The problem

  • Difficulty to reach customers during working hours.
  • Strict regulatory restrictions were applied in terms of how often the debtor can be contacted.
  • When customers were contacted, collections agents found it difficult to propose on the phone complex repayment schemes and many alternative options for debt restructuring.
  • Some debtors felt uncomfortable having such discussions with the bank’s agents on the phone.

The Solution

  • Bank deployed new EXUS Financial Suite (EFS) product : EXUS Collections Self Service.
  • Bank offered a 24*7 online service to debtors for settling their debts, with all settlement/restructuring options available for reviewing without the “pressure” of an agent.
  • Debtors get detailed information per offering and select the most appropriate for them.
  • Debtors may also provide qualitative data (i.e. reasons for the inability to pay).

The Results

  • Decrease in the number of customers that cannot be reached.
  • Decrease in the cost of service per customer.
  • Increase in acceptance rate of settlements options.

Join forces for better results with 3rd party portals

The Problem                                     

  • No insight on actual team working on assigned portfolio.
  • No way to monitor agency performance and interact in real time.
  • No means to enforce bank’s contact strategy.
  • Disputes over calculating commissions.
  • Moderate performance of 3rd parties.

The Solution

  • Bank deployed the Outsourcing module of EXUS Collections.
  • Bank offered an online access to each DCA’s portfolio through the web.
  • Each DCA used its own CTI Infrastructure and dialer software, integrated with EXUS Collections in real time.

The Results

  • Seamless integration with all DCA’s,
  • Real time monitoring and adjustment of account handling prioritization.
  • Reduced number of complaints.
  • Fully automated process for calculating commissions.
  • Reduced bucket flow to higher buckets.

EXUS Collections

Click here to learn more about EXUS Collections.

5 EFS Debt Collections & Recovery Software treats in Sberbank d.d. bank

The bank has been present in the Republic of Croatia since 1997 and since January 18, 2013, operates under the name Sberbank d.d. 
  • One of the largest, fastest growing and most dynamic financial institutions in the world with a 170 years long business tradition
  • Member of the Sberbank Europe Group, which is currently present in 8 markets in the CEE region: Austria, Bosnia and Herzegovina (Sarajevo and Banja Luka), Croatia, Czech Republic, Hungary, Slovenia, Serbia and Germany
  • The leading bank in the market with the introduction of innovative products based on excellence and state-of-the-art technologies.

The Problem                                     

  • No collections system used.
  • Unsuccessful performance of the Collections Department.
  • Unsuccessful cooperation with previous vendors, who constantly raised CR’s and extra costs resulting in delays and extensions.
  • Insufficiently and inadequate compliance to the Croatian regulation authorities on banking activities.
  • Not attuned strategies with the plans of the Sberbank Europe Group so as to become a fully-fledged, self-funded and profitable universal bank.
  • Use of multiple systems for debt management and costs reduction, for similar kind of information

The Solution

Implementation of the EFS Debt Collections & Recovery Software offered: 
  • One system, supporting a wide range of activities, for effective results in terms of debt management and costs reduction
  • Easy to be parameterized from the bank’s administrator.
  • Combination of workflows and rules were used in order to provide solutions to Sberbank’s d.d. specific needs.
  • Tailor made documentation was delivered by our experienced consultants to European regulations that was based exclusively on Sberbank’s d.d. implementation.
  • Business administrators were properly and extensively from day one in order to be able to have full control and ownership of the system going forward

The Results

  • Supporting high level of Customer Service. 
  • Better and more concentrated control of External Agencies profitability.
  • Considerable decrease in fees for external agencies.
  • All collections activities are conducted through the EFS Debt Collections & Recovery Software functionalities.
  • Dispatch of letters to Croatian authorities is executed based on systematic criteria. 

EFS Debt Collections & Recovery Software 

Τhe EFS Debt Collections & Recovery Software excels at helping banks and energy supply companies in simplifying challenges to achieve higher performance and gain competitive advantage.
Click here to learn more about EXUS Financial Suite.

Changing the collections strategy of a Greek energy supplier in 35 days

The Karatzis Group is based in Crete and has been active since 1974 mainly in the Industrial and Tourism sector.  
  • It is listed in the Athens Stock Exchange, with 5 factories in Greece and Germany employing 900 and 200 employees respectively, with a corporate presence outside the Greek border in Germany, Italy, Russia, England, Spain and Romania
  • In 2016 extended its activity in the energy sector with the establishment of KEN S.A., a power supply company.

The Problem                                     

  • Management of debt within the company.
  • No participation of outsourcing companies in the collection process.
  • Limited experience of the Greek organizations operating in production and marketing of energy by private investors, as far as the management of past due accounts.
  • Particularly high need for organization and planning of Debt Collection Management for the energy production and marketing companies, due to the constantly changing market and its competitive conditions.

The Solution

Implementation of the EXUS Financial Suite (EFS) offered: 
  • High-performance integration between EXUS Financial Suite (EFS) with external Host Systems, due to our specialized consultants and the use of the Out-Of-The-Box Standard Interfaces utilities.
  • Quick parameterization of the required Collections Strategies, for optimizing in-house Portfolio, using EXUS Financial Suite (EFS) Segmentation and Portfolio Management features.
  • The analysis workshop, the integration and the testing were accomplished, resulting currently, the in-house Collections Agents to operate Campaigns on specific and designated Customers either Low or Medium Voltage performing targeted Recovery plans.

The Results

  • Fast deployment to Production.
  • Better results for the Company from the very first day of operational use.
  • All collections activities are conducted through the EXUS Financial Suite (EFS) functionalities.

EXUS Financial Suite (EFS)

Τhe EXUS Financial Suite (EFS) helps banks and energy supply organisations achieve higher performance and gain competitive advantage.
Click here to learn more about EXUS Financial Suite.

EXUS Blog

Debt collections and retail banking in Vietnam

Posted by Dimitris Vassiliadis

Vietnam finally emerged from the shadow of conflict and political tumult in 1976 when the Vietnam War fizzled to a close. But the war’s end didn’t bring much respite for the country’s fledgeling government.
Non-performing loans are on their way down, but the implementation of Resolution 42 in 2017 makes settling bad debt an absolute priority. And as the country’s populace has become more affluent, personal debt has climbed to record levels.
There’s pressure from two sides: Government regulation of NPL ratios and a new thirst for consumer loans among the Vietnamese population. So what’s next for debt collections in this high-pressure environment?
Read More

Get in Touch

EXUS Loan Collections Software can provide specialised solutions for financial institutions, banking, telecoms, utilities and hospitality sectors.  Contact us at info@exus.co.uk for more information.