Česká Spořitelna, the largest retail bank in the Czech Republic, today announced that it has chosen Talgentra’s Tallyman system to manage customers in arrears. Tallyman will also help manage the customer risk and debt provision requirements of BASEL II and the European Duty of Care Directive.
The Czech brand of the multinational IT services provider S&T was chosen to implement Tallyman.
Harald Walitsch, Chief Credit Risk Officer for Retail at Česká Spořitelna, said: “We are the largest retail loan provider in the Czech Republic and our strategy is to have a responsible approach to our customers. If they find themselves in a situation when, for various reasons, they are not able not able to keep the terms of their credit agreements, it is important that we know about it as soon as possible. Then we can work with them to delay the payment of instalments, extend the payment calendar and so on. Thanks to its warning system, the Tallyman system can decrease the number of clients who find themselves facing repossession orders.”
Tallyman will enable Česká Spořitelna to significantly reduce its write-off figure by adopting the most effective and proven techniques for ensuring provisioning and bad debt write-off is minimised. The bottom-line benefit will be improved profits and increased working capital due to reduced debt write-off and having less cash locked up in outstanding debt.
The use of the specialist Tallyman collection system - which includes customer segmentation capabilities - will also enable Česká Spořitelna to meet a variety of Basel II requirements including more accurate assessments of the risk level of individual customers, predictions of recovery rates and estimates for provisioning.
Tallyman manages the collections process by consolidating all customer communications relating to debt including phone calls, emails, letters and faxes into a single database. Many of the administrative elements of the collections processes such as the issue of personalised standard letters are then completed automatically by Tallyman.
However, Tallyman’s unique value lies in its ability to segment customers in arrears in the same way marketing departments segment customers and prospects using CRM systems – which is particularly vital for consumer debt management, where each case of arrears needs to be managed in an appropriate and sensitive manner.
Jiri Kost’al, CEO of S&T CZ, said: “As well as the localisation and implementation of Talgentra’s sophisticated system, Tallyman, we offer Česká Spořitelna users direct support to solve any request or problems that might occur. We have also provided reporting features for the Tallyman database via the Cognos Business Intelligence products.”
Brian Dewis, CEO of Talgentra, said: “Banks are looking for proven solutions to manage customers in arrears, keep revenue recovery rates high and minimise their risk levels. Companies already using Tallyman report a complete return on their investment within 12 months."
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