Effective collection of past due MFIs with SaaS Credit

    The activities of microfinance organizations have a number of features that significantly distinguish it from bank lending. One of the key features is the high risk of non-return. This is due primarily to the ease of obtaining a loan and a fairly loyal approach to assessing borrowers. In addition, in most cases, microcrediting does not provide any security for the loan. This approach is necessary for the existence and competitive activity of MFIs, but a large number of problem loans become its by-product. And this means that it is necessary to solve the problem of their return. The SaaS Credit microfinance business automation system , equipped with a well-thought-out collection module, can help with this .

    What is SaaS Credit?

    Manifold Workstation

    SaaS Credit is a cloud-based business automation system for microfinance organizations. The system is based on an integrated approach, which provides for the automation of all business processes of MFIs. In particular, a solution has been implemented to ensure the receipt of applications and the issuance of loans via the Internet, or, in other words, to actually create a business for issuing loans online. Thanks to its placement in the cloud, the system replaces an entire IT infrastructure, regardless of the territorial distribution of offices and credit points, as well as regardless of the location of the borrower.

    The software package itself has a modular structure, which allows a microfinance organization to use the functions necessary for it. Including the system, there is an advanced collection module, which greatly simplifies the work of MFIs in collecting bad debts.

    Capabilities of the SaaS Credit collection module The SaaS Credit

    General collector module settings

    business automation system collection module is designed to collect overdue debts. The module has extensive functionality, which can greatly simplify the work of collectors. The system makes it possible to use flexible settings. In particular, you can set the following parameters:
    • The number of days of delay in repayment, after which the loan debt is transferred for collection.
    • The number of days of delay, after which the loan is automatically subject to freezing.
    • Automatic distribution of the problem of debt between employees of the collection service;
    • Distribution of loans between employees of the collection service in manual mode.

    SaaS Credit makes it possible to effectively organize the work of a large number of employees. Overdue loans between employees can be distributed not only automatically, but also in manual mode. Moreover, all events in the process of collecting overdue debts are saved in the history, which is maintained for each loan individually.

    The system has a number of functions that simplify the work of the collector and make it more efficient. At the stage of negotiating with the borrower, the collector has the ability to set a reminder for himself. Also, the borrower can be assigned certain statuses, depending on how the interaction is progressing. In addition, an employee of the collection service has the ability to suspend the accrual of interest and penalties (together or separately) for problem loans. Thanks to this, one employee can accompany a large number of loans, while ensuring high collection efficiency.

    For owners or managers of microfinance organizations, the SaaS Credit collection module offers a convenient opportunity to monitor the work of the service for collecting overdue debts. There is a built-in system for evaluating the performance of each employee.

    The SaaS Credit cloud complex is actively developing, which opens up new opportunities for users. This also applies to the collector module. At the moment, the developers are testing the IP-telephony system, which will allow phone calls to borrowers directly from the interface of the SaaS Credit software package in the "pipelined" mode.

    Also popular now: