The ICS BANKS® Auto Collection System is an advanced software solution specifically designed for financial institutions to minimize the risks associated with managing overdue or delinquent accounts. This automated system provides effective monitoring of customer accounts with outstanding arrears, identifying available funds and preventing their use until the arrears are fully settled. By automating the entire collection, recovery, and tracking processes for past-due accounts, the system significantly enhances operational efficiency for financial institutions. It simplifies the comprehensive monitoring and management of various types of arrears, offering institutions the flexibility to customize their criteria based on specific requirements. Users can define selection options including arrear type, amount, date, and priority, ensuring tailored collection strategies. The system integrates seamlessly and in real-time with other ICS BANKS® products, such as ICS BANKS® Lending, Credit Cards settlement, discounted bills, and charges. This user-friendly integration empowers financial institutions to maintain efficient control over arrear collection, leveraging automated processes and robotics to achieve substantial time and money savings with high accuracy.

Features & Benefits

• Automated Account Monitoring
  • Effectively monitors customer accounts with outstanding arrears to identify available funds and prevent their use until arrears are settled.
• Enhanced Efficiency & Risk Mitigation
  • Automates the collection, recovery, and tracking processes for past-due accounts, significantly reducing risk and driving operational efficiency for financial institutions.
• Customizable Collection Criteria
  • Simplifies the monitoring and management of various arrear types, allowing institutions to customize criteria based on specific requirements, including arrear type, amount, date, and priority.
• Seamless Real-time Integration
  • Integrates seamlessly and in real-time with other ICS BANKS® products, such as Lending, Credit Cards settlement, discounted bills, and charges, for comprehensive control.
• Automated Processes & Robotics
  • Leverages automated processes and robotics to deliver substantial time and money savings with high accuracy in collection and recovery operations.