Too often, with the purchase and installation of banking systems, debt recovery is last on the list of targeted features. Why? Perhaps it is our overly-optimistic human condition. Perhaps the subject makes most banking people uncomfortable. Seasoned executives know differently, however.
Debt recovery is a critical feature for any financial institution that offers loans.
In banking, cashflow is critical. It is common that when you have a customer in arrears this customer is also being contacted by other organizations. You need your needs to come first. And you can achieve this by ensuring that you have adequate debt recovery processes. XRS will help you attain this goal.
There are a number of approaches XRS recommends to ensure maximum debt collection.