Collections for Financial Services™ is a multi-channel solution that enables organizations to more intelligently manage their collections function. Powerful, real-time adaptive analytics rapidly identify and present the collections representative with the option that is most likely to facilitate a positive collection outcome, resulting in improved collections performance and a better customer experience.
Loan Default Management
The Default Management or Loss Mitigation capability provides the solution for businesses to process troubled loans, with offerings for all cycles of default strategies. The solution targets the most appropriate solution given the loan default stage and the borrower’s circumstances, such as a selective repayment plan to get the delinquent loans caught up, a modification plan to return the loan in default back to a scenario that works for all parties, or an alternative program such as foreclosure.
Default Management supports access to cases through multiple channels, contains robust document and condition management capabilities, provides rules-based calculation of modification types and amounts based on modification program guidelines, and includes a wizard to help business users quickly add or change programs to remain in compliance with various government and investor requirements.
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