The financial services organisations internationally face stricter and more complex regulatory framework of operations to meet the changing market requirements. Across Europe, Africa and the Middle East the appropriate management of non-performing loans to ensure prompt collections and handling are important elements that add to the bank’s profitability, performance and client experience.
The various use of modern applications give the client the freedom to communicate through various channels while expecting the same level of service and communication from the bank. In addition, the banking organisations apart from utilising modern technologies to communicate with the client, they also need to have the right mechanism in place to evaluate the performance of each client’s account and establish procedures to safeguard the entity and the bank’s policies. It is critical for the bank, not only as a regulatory demand but also as a key risk and performance indicator, to be able to monitor the overall client exposure and take timely corrective actions based on its specific client risk and business profile.
To achieve these objectives in the domain of collections and loan management, the organisation requires an end-to-end management of the loans process from origination to collection and litigation or write off. To this aim, an effective and complete collections management system shall operate as a key part of an integrated loan lifecycle management solution allowing all involved personnel to have the appropriate alerts, business and client information tasks as well as to be able to monitor and adapt to customer changing behavior. The appropriate system assists the bank to achieve this by covering all stages including risk parameters, counterparties and policies per country in order to provide the appropriate level of service for both the account handler as well as the client.
FMS.next incorporates a powerful Collections and Debt recovery solution that automates these operations. It has been successfully utilised in various banking organisations while it can easily accommodate the processes of investment firms for end-to-end Debt Management. Some of its key characteristics include:
- Facilities Integrator; offering a seamless integration with third party systems for credit lines, collaterals and all customer facilities, delinquent or not
- Policies and operations management; utilising the “product factory” concept to define policies and allow for constant adaptation to complex and evolving environments
- Decision support mechanism with business intelligence to facilitate planning based on specific financial organisation’s Collections and Loan Management policies and customer related strategy.
FMS.next deploys a flexible and modular architecture that allows for future enrichments as the market develops. Organisations benefits from the:
- Automation of the collection processes
- Facilitation of the recovery and restructuring process
- Risk management and assessment
- Ready to use interfaces for fast integration
- Customer service optimisation
- Compliance with the Regulatory Framework.
The solution’s rich functionality covers a wealth of related functions ranging from debtor portfolios planning, workflow based modelling, to web interfaces, call center integration and more.