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HELPING 60+ CREDIT UNIONS BOOST CREDIT CONTROL RESULTS

Core banking software often lacks the functionality and flexibility for efficient and effective collections

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How Manchester Credit Union Revolutionised its Credit Control

A robust system is in place to achieve best practices in credit control. Manchester automates many previously manual tasks and actively encourages members to self-serve. This enables credit controllers to focus on more value-adding tasks and complex cases.

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WHY CREDIT UNIONS CHOOSE COLLECTOR

Boost Arrears Collected



Boost Arrears
Collected

Improve efficiency and effectiveness with automated workflows, self service, communications, and payment arrangements

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Improve Insight and Control

With structured, segmented credit control strategies backed up with live management information, and automatically scheduled KPI reporting

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Reduce
Provisions

By empowering members to manage their arrears online and by using advance notifications, early intervention and consistent, systematic processes

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Engage and Retain Members

By communicating with them through their preferred channels and offering convenient payment methods to suit their needs

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Reduce Costs and Resources

Leverage digital communications and payments to free up credit controller time and to save money versus more traditional methods

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Write Off and Outsource Less

Use strategic segmentation to catch arrears early and to monitor key risk indicators as accounts move through the credit control process

“The overriding feeling is one of actual control. Collector helped us to get a great overview of our data and automated many processes which saved lots of time. We wouldn’t be able to manage the number of accounts that we have without it.

It completely changed the way the credit control team were able to work and collect arrears. It has had a real, positive impact. The difference between the old system and Collector is huge. It actually motivates the staff to get through their work”
Ryan Young, Finance Manager, Manchester Credit Union

WHAT OTHER USERS HAVE TO SAY

“Collector provides structure and control which gives me peace of mind that all loans in arrears are being reviewed correctly. There is no way we could deal with the volume of work without RMS. It automates a lot of previously manual tasks, but also offers the flexibility to deviate from the process when required. It allows us to be proactive in our approach to credit control keeping arrears as low as possible.”

Angela Comer, Operations Manager, Leeds Credit Union

“The fact that it can be tailored to suit our needs is fantastic. The after-sales support from the guys in XRS has been brilliant”

Grace O’Neill, Credit Controller, Douglas Credit Union

“The solution has eased my workload and has improved the overall efficiency and effectiveness of our credit control department.”

Miriam Magee, Credit Control Supervisor, Letterkenny Credit Union

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