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FinnOne Neo Collections

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90+ customers use Nucleus Software's Collections module

FinnOne Neo Collections

Product Module Overview

FinnOne Neo Collections is a customer centric, web based and workflow driven solution that allows financial institutions to manage, monitor and control the delinquent loan accounts while automating the loan collections management framework. The workflow manager governs the entire business processes and the rule engine defines the supporting rules in line with their policies.

 

FinnOne Neo Collections empowers the institutions to define strategies for classification, allocation and follow-up actions as well as maintain details on repossessed asset, with support for valuation and disposal of repossessed asset.

FinnOne Neo Collections supports both cloud and on-premise deployments. It can be deployed quickly in partnership with leading cloud providers without high upfront capital expenditure. Cloud deployment provides flexibility in scale while optimizing costs by supporting pay-per-use models.

Business Benefits

FinnOne Neo Collections enables banks to proactively and efficiently manage their delinquent customers:

  • Customer Centricity
    Customer Centric approach with 360 degree view of all customer accounts
  • Enhanced Collections
    To decide the best strategy for classification, allocation and follow-up Actions
  • Simplified Operations
    Provides a configurable dashboard providing critical information
  • Adherence to business policies
    Configurable Workflow Management System and Rule Engine to govern entire business processes as per the policies
  • Seamless Integration
    Integration with Avaya and other third party predictive dialers

Functional Details

FinnOne Neo Collections, a multi-lingual and multi-Currency system with support for multi-locale and multi-entity, supports the following features:

  • Flexible sourcing, classification and allocation: Data sourcing from multiple host systems; configurable queuing logic for classification and allocation of delinquency cases
  • Settlement functionality: Configurable settlement workflow with separate approval matrix for waivers
  • Integration with Lending Analytics: Seamlessly integrated with Nucleus' Lending Analytics for efficient handling of self-cured cases and early identification of probable default
  • Integration with mobile platforms: Supports integration with mobile platforms to deliver faster and paperless transaction processing with reduced risk and higher transparency
  • Embedded rule engine: Integrated rule engine used for classification, allocation, escalation, communication, etc.
  • Collection strategies: Defines multiple collection strategies based on individual risk profiles to determine the best strategy for implementation
  • Auto dialler compatibility: Capability to interact with auto dialler systems
  • Repossession: Maintain details on repossessed asset, with support for valuation and disposal
  • Real-time payment capturing: Capability to update the payment information real time
  • Collection Agency/Agent Performance: Supervisor/Collection managers can define targets and setup multiple KPIs for their team to measure performance over a given time period

  • Strategy Evaluation report: Compares different collections strategies defined in the system to maximise collections

  • Service request Management: Customer can service their requests themselves while tracking them to closure

  • Multi-Currency Support: Defines loan accounts in different currencies leading to better visibility and enhanced decision making process

    • Legal case handling: Allows legal initiation management until closure
  • Pre-delinquency handling: Predicts accounts likely to turn delinquent and assigns individual approach for curing actions based on rules

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Technical HighLights

  • J2EE technology
  • SOA & multi-layer architecture
  • Database independence
  • Design to support multi-entity
  • Hooks to plug-in standard workflow engine
  • Policy frame work with factory supplied default
  • Value dated transaction
  • On-line process & bulk processing
  • High performance & low bandwidth usage