TranzWare Debt Collector
An efficient automated system managing the recovery of delinquent accounts
Debt is one of the fastest growing problems in today’s society as people are enticed with cheap and easy ways to borrow money. As a result there is a growing culture of people spending more money than they earn leading to financial debt and a higher risk of account delinquency. Currently, as there are limited ways to control the level of debt an individual can accrue, retrieving bad debt is a critical issue.
TranzWare Debt Collector is an automated bad debt recovery system that enables the prompt and effective collection of payments. The system provides a financial institution with sophisticated debt case management based on a variety of algorithms.
TranzWare Debt Collector offers a range of actions that can be taken based on debt type, enables customer contact management and the automatic generation of customer letters (notifications, requests, reminders, etc.) as well as the planning of other types of customer contact, providing customer response receipt and registration and assists in taking further action based on the responses received. Debt cases can be managed manually, whereby a debt case officer plans his/her actions manually or automatically, whereby a business process algorithm is created in order to automate case management. The two methods can also be combined – a case can be managed automatically up to a certain point/event and then be assigned to an appropriate officer for further management.
TranzWare CMS (or other third party card system) manages the credit product itself, administers its financial side and manages the credit product lifecycle. Both the case officer and the algorithm have access to back office information such as repayment status, card limit extension, contract closure, etc. as this information directly affects the debt case investigation. Additionally during a case investigation, an algorithm or case officer can perform certain actions on a debtor’s card and account, such as blocking the account and/or applying charges and fees.
- Automatic, semi-automatic and manual debt case management
- Support for all card products, card types and account types
- Broad set of debt case conduct algorithms
- Case management rules and action templates
- Customer letters (notifications, requests, reminders, etc) generation
- Other types of customer contact, (e.g phone calls, emails)
- Debtor contact timetable setting and management
- Monitoring of contact history
- Entire debt recovery lifecycle automation ensuring decrease in human errors and costs of collections
- Advanced customisation capabilities: design of algorithms, rules, documents, etc.
- Improvement in customer service through set/automated customer interaction
- Reduction in customer churn rate