Expert Revenue Systems (XRS), a leading supplier of credit control and collections software, today announced that Transave Credit Union will deploy its cloud-based XRS Collector solution to enable more feature-rich, efficient, and effective collection of member arrears.
Transave Credit Union, a Sheffield based, not-for-profit, financial co-operative was founded in 1996. Total assets currently stand at over £40 million with more than 16,000 members. Membership is offered through over 60 organisations, Unite the Union and certain industrial sectors throughout the UK.
XRS Collector will seamlessly integrate with Transave’s core banking solution to provide a powerful collections tool that is flexible, intuitive, and easy to use. By automating workflow, communications, card payments, and promises to pay, XRS Collector will dramatically improve productivity and member engagement leading to higher arrears recovery and lower bad debt provisions and write-offs.
“We selected XRS as our credit control software partner because of their market leading expertise supporting Credit Unions in Ireland, the UK and the US. Our existing system was overly manual, inflexible, and lacked key functionality. XRS are a forward-thinking organisation, and their offering aligns with and supports our goals and values. As a community-based lender, we aim to collect arrears in an efficient yet ethical and responsible manner, particularly for members experiencing financial difficulty.
Simple but proactive approaches, such as using each member’s preferred communication method and simplifying the payment process will help us increase repayment rates and retain members”.
Ian Sibbald, Operations Director, Transave Credit Union
Pat Kelly, Managing Director, XRS