Manage collections efficiently
Improve collection rates and lower your costs
Manage your collections more efficiently by use of data, analytical and automation solutions provided by CRIF – reduce your cost and improve collection rates.
Alerts and Triggers
Proactively monitor your existing customers who are due for collections through CRIF’s alerts and triggers service. The users will be informed of any updates on customer’s profile and will allow you to grab an opportunity to improve on your chances of recovering dues from such customers.
Skip Trace enables you with additional contact information on non-traceable customers, thus increasing your chances of collecting from such customers. CRIF’s skip trace does an iterative search to locate customer in our large database and provide you with up-to-date contact details – making your collection process more efficient.
Leverage power of statistics and analytics built on application data, credit bureau data and additional data points to help predict risk and support decisions. Our experts can build bespoke scorecards to make your application process more robust. You may explore a look-alike scorecard when you are starting a new line of business.
CRIF’s Collections solution allows lenders and other players to collect more with less in a smarter, easier way. This is done through a more effective management of accounts in arrears, using a structured definition of tasks, assignments and policies, and constant enforcement and monitoring which is automated and efficient. It helps in reducing time-to-action and thus time-to-recovery, optimizing resources, and better control over the entire process.
You have defined some internal policies for collections – early as well as late. You have built a scorecard for segmenting customers to help you prioritize collections. You have strategies for putting various customer pools to different channels and perhaps to different partners. What CRIF’s StrategyOne can help you do is to automate running of all of these in a very efficient manner without any need of coding. You as a business user can maintain and change all this quickly at clicks of a few buttons without any specific IT support.