Business Objective

Business Objective

To build a next-gen debt collection system for both creditors & debtors that can provide a seamless and authenticated cash-flow management

Client Kredin

Industry Fintech

Year 2016

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Business Challenge

1
Absence of Real-Time Collaboration

Due to a lack of coordination between collectors and debtors, the debt recovery process were inflexible and hard to manage. Also, the involvement of collection agents was making the entire workflow complex, time-consuming and less convenient

2
Third-Party Dependency

Owing to the involvement of several third-party vendors for handling tasks like print and mail services, credit check services, company registers was unmanageable. This, as a result, led into invalid or missing information, slow processing, and customer attrition

3
Limited & Complex Functionality

The existing system lacked advanced functionalities and supporting features like custom interest, claim calculation, etc. This, however, impacted the flow of operations and overall business performance

Business Solution

Successive adopted a centralized and automated approach to develop a modernized cloud-based debt collection system for efficient cash flow and debt management. We integrated Experian to ensure real-time credit reporting, improve flexibility and embedded an engaging interface that provided a highly personalized experience to users with much-reduced wait time

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