About the Customer
The client is one of the largest banks in the Philippines and offers retail banking services and a wide range of commercial banking products and services, including asset management, lending, treasury operations, and trade finance.
The Challenges
An increase in customer spending resulted in a surge in loan and credit card delinquencies for the client. The lack of automation made the collection management process time-consuming and error-prone. The bank also experienced an imperfect approval process, disjointed communication, and zero visibility in the collector’s workload, making collection-related activities much more difficult.
Streamlining Collections Management Process with Newgen
To overcome the barriers and enhance efficiency, the bank strategically decided to automate its collections management process. Since implementing Newgen’s Smart Collection Solution, the bank experienced increased resolution rates, improved efficiency in legal and repossession management, and omnichannel engagement with customers.
Read the complete case study to understand the business benefits achieved by the client by using the functionalities offered by our Smart Collection Solution.