The very nature of consumer collection demands a specialised approach for each kind of customer. To encourage customers to settle bad debts, collectors must combine creativity with well-established rules, timeliness, and accuracy. Without exaggerating the number of needed resources, one thing is clear – automating the debt collection process helps professional issuer collector teams to handle bad debtors with efficiency.
The WAY4 Consumer Collection module allows issuers to automate debt collection workflow and manage the outsourcing of bad debts using their own collection strategies. Its rich facilities enable issuers to efficiently manage the complete lifecycle of collections while cutting operating costs, motivating the collection department staff, and providing exhaustive statistical information for management decision-making. It is fully integrated within the WAY4 transaction and product management framework that offers multi-institution and multi-language processing features.
The WAY4 Consumer Collection module helps you to bring your accounts up-to-date from past-due status in the least amount of time and cost. For accounts that cannot be brought up-to-date, the module helps to recover the maximum amount of money in the least time with a minimum number of resources.