Innoviti Launches fastCollect

Innoviti today announced launch of fastCollect, a unique field collection solution, provided as a pay-per-use service for banks and NBFCs.  fastCollect 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.

The solution is relevant for asset-backed lending businesses and helps them manage repayments in businesses such as:

• Tractor,  Farm & Construnction Equipment Loans
• Utility and Commercial Vehicle Loans
• Car Loans
• Refinance
• SME Loans
• Personal & Home Loans

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.

Secure & Ready

• Certified under stringent PCI-DSS (Payment Card Industry-Data Security Standard) security standards.
• Available on a pay-per-use model, the solution can be setup within 48 hours for any new business collection process.

The solution has already been deployed with lead customers in India and South East Asia.

News In Brief

Expected Impact

Customer feedback indicates that digitization of information and its availability in real-time with qualitative feedback has helped improve productivity by over 20% and reduce risk by 25%.

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