OREANDA-NEWS. Under the project, Neoflex installed FICO Debt Manager v7 (FICO DM), a problem assets management system, and Neoflex Call Queue Manager (Neoflex CQM), a call planning system, also integrating the Bank's telephony with CISCO and other IT systems employed in the debt recovery process.

This end-to-end solution is designed to optimize procedures for credit reimbursement to be factored into the payment schedule in the early stages of default. The FICO DM system consolidates information regarding the loan, the borrower and all contacts with the borrower at the recovery stage. Based on the resultant data, debts are segmented on a portfolio basis and the respective operational procedures duly automated per portfolio. These may take the form of, inter alia, text messages to customers reminding them of an upcoming payment date, e-mail communications, notifications and demands.

Neoflex CQM makes it possible to customize specifications for outgoing calls, dial up clients automatically, and connect to the operator only when the customer answers. The system's main functions are to identify client numbers to which calls should be made, and to reschedule the call, depending on the result of the previous communication.

FICO DM performance is monitored using a variety of reporting functions built into its basic software. With a view to evaluating the work of the Problem Assets Department, Neoflex installed a report function specially configured to meet the requirements of its users and the Department's senior staff.

“The FICO Debt Manager system was put into operation in early August 2013 and it is now safe to say that the joint efforts of Uniastrum Bank and Neoflex have proved highly productive,” notes Anton Lazebny, Head of Risk Management at Neoflex. “Our practical business solution has enabled the Bank to process more customer contracts without the need for greater manpower”.

“Our first joint project with Neoflex was completed six month ago”, says Alexey Yemelyanov, Uniastrum's Vice President for Information Technologies. “Particularly noteworthy is the fact that deploying FICO Debt Manager has made it possible for our staff to benefit from the one-stop shop principle. Information regarding the customer, his/her loans and related communications are all contained in the system interface. Similarly, all data pertaining to the Bank-customer relationship are entered into Debt Manager, dramatically cutting labor costs and optimizing the performance of staff dealing with debt default”.