Automate batch processing with advanced strategy drawing debt collection strategy to different Days-past-due and scoring results

‍Challenge

Financial institution faces challenges in managing complex debt collection, often struggling to recover funds efficiently while adhering to regulations and maintaining customer relations. Traditional, human-dependent processes lead to inconsistent communication, delays, and errors, which prolong recovery, increase costs, and heighten compliance risks. Rigid collection methods can further strain customer relationships if perceived as overly aggressive. To succeed, institutions must balance effective debt recovery with customer satisfaction, navigating strict regulations and carefully assigning appropriate actions.

Solution

SLS provides a comprehensive solution to automate the entire debt collection process, addressing the challenges faced by financial institution. Our system scales easily to manage high volumes of daily records, ensuring efficiency and accuracy. With flexible strategies and actions, our platform quickly adapts when the current approach needs to be adjusted. We allow precise control over strategy allocation, enabling the institution to tailor actions based on factors such as DPD and customer profile. In addition, the system provides real-time monitoring and automatically alerts relevant departments when issues arise, ensuring seamless operations and compliance. The solution uses generative AI to tailor email communications, ensuring messages are personalised with the correct first and last name and contextually appropriate syntax. Our system uses cachememory mechanisms to maintain consistent treatment across multiple loans for the same customer, guaranteeing that each interaction follows a consistent approach.

Key Results

• Improved Portfolio Management and Oversight: Provides complex control over the portfolio with real-time online monitoring and automated email notifications to address any inconsistencies.
• Significant Reduction in Processing Time: The debt collection process has been substantially improved, enabling the assignment of appropriate actions for each loan across more than 60,000 customers in under 2 minutes.
• Enhanced Data Quality and Accuracy: The solution has markedly improved data handling, eliminated errors and ensured correct action assignments, enhancing the overall quality of debt collection.
• Rapid Response to Changes: Adjustments to assignment strategies and their respective percentage shares can be implemented within 5 minutes, while new loan delay period strategies can be introduced within a single day.
• Elastic and Flexible Solution: The system automates actions effectively, eliminating the need for manual intervention on weekends and holidays, increasing operational efficiency.

Why Choose SLS?

The SLS platform provides:  

• Comprehensive workflow automation for debt collection processes.  
• Tools for real-time monitoring, error detection, and recalculation management.  
• Flexible and scalable solutions that adapt to changing business needs.  

With SLS, organizations can streamline debt collection operations, reduce costs, and recover debts more effectively. 

Questions Answered:

How can we reduce the time spent managing and monitoring debt collection workflows?  

• Answer: By automating workflows with the SLS platform, reducing manual oversight to a few minutes daily.  

How can we quickly adapt workflows to address operational changes?  

• Answer: SLS allows dynamic adjustments to processes and sequences, implemented in minutes instead of weeks.