Introduction

ITS-Collect system consists of multiple modules; each module performs a specific task, integrated to provide the full solution. The application is built using Oracle 9i as a database engine and it can run on any UNIX or NT platform that supports the Oracle 9i database.

ITS-Collect enables banking to implement a seamless, integrated, arrears management solution that covers all stages of the collections and recoveries life cycle, including delinquency and charge offs, internal recovery, legal recovery or external placement.

ITS-Collect focuses on automating a considerable number of collection procedures that can help in enhancing the business life cycle, as well as maintaining consistency and control of the company’s collection and recovery business processes.

Highlights

ITS-Collect was created to offer the following:

• Delivery of state-of-the-art Collection & Recovery System to support the collection process of overdue receivables and minimize the risks for delinquent client payments
• A solution that seamlessly interfaces with various systems including call centers and core banking systems
• Ability to deploy sophisticated and scalable strategies and work flow processes at both customer centric and product centric levels
• A scalable system that can process as many delinquent accounts as available
• Automation of the collection process offers companies the ability to reduce the time required to collect the overdue payments and hence, reduce cost
• Proper risk management
• Secure significant return on investment
• Integration with back end systems allows the company to automate its business process with the ability to introduce collection actions without the need of human intervention, such as automatically freezing client accounts and assets

Business Benefits

The ITS-Collect system offers the following business benefits:

• Minimizes Collection cost
• Implemented using Best Practice processes
• Focuses efforts on accounts that yield maximum collection
• Demonstrates seriousness of collection efforts
• Identifies and eliminates main sources of problems that result in collection delays and diminished service quality to the client
• The system has intelligence to learn and analyze behavior to anticipate delinquent accounts as early as possible in the process
• Improves the overall collection effort by staff
• Ensures account information flows easily and quickly between the bank and the legal department