Field EMI Collection Solutions helps digitize the entire collection process eliminating human errors and providing real-time MIS for improving collection efficiency and reducing risk. It further helps in driving customer engagement through timely and relevant customer interventions.
Field EMI collections deals with repayment collections. Typically used in asset-backed lending, this helps agents to collect EMIs from customer premises, especially in cases where collections are by cash or in remote areas.
Setting up the system is easy, it requires mapping an organization’s existing collection processes such as demand generation, allocation, collection, deposit and customer account updation to fastCollect's process mapper. This flexibility helps the organization maintain its existing processes while getting the power of automation to manage better.
All transactions done in the field are updated in real-time with full traceability of transaction origin and linkage to the bank and NBFCs core banking system. MIS is available on real-time basis and can be further enriched through features for recording visit feedback such as postponement in payment date, cross-selling opportunity, condition of asset etc.