Digital Solution During HardshipCollections & Relationship Management – CollectRM by FINSS GLOBAL Financial Hardship Management When a “Customer” is unable to make their due repayments or existing financial obligations due to unforeseen circumstances or unexpected events is described as a Financial Hardship. During such situations majority of the lenders are supporting their customer to overcome…
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Establish & Implement Customer Contact Policies It is necessary to have Customer Contact Policies implemented within your company in order to manage your processes specially during Hardships. It can identify high impact areas during a Hardship to provide efficient design manuals and automated processes to manage and track correspondence documentation. It pave path to access…
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Balance Business with Customer Satisfaction If you are a Lender who has had to deploy a Hardship Team(s) the majority, if not all, of whom are working from home, then ideally you’ll need a system that is centrally managed, accessible from anywhere, minimises manual processing, is able to record, track and audit Customer interactions and…
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Balance Business with Customer Satisfaction At FinSSG we have built a solution, CollectRM (Collections & Relationship Management), to handle Debt Management with a focus on exceptional Customer Service. As a Lender managing Customer payments is key, but so are Customer Contact Polices. These need to be managed in a Compliant, Caring, Ethical and Pro-active way,…
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Manage Customer Expectations In Times of Hardships We are in unprecedented times and if you are a Lender, it should have highlighted to you that the impact will be on both you as a Business and your Customers. Your Business is suddenly faced with immediate Risk Mitigation actions, a focus on Provisioning and above all…
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How your bank can help if you’re having money troubles Banks want to help their customers, especially if they’re experiencing financial difficulties. Depending on your circumstances, banks may be able to assist in a variety of ways.Download the fact sheet What is financial hardship? Financial hardship occurs when you’re unable to meet your existing financial…
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If you’re dealing with the impact of the COVID-19 pandemic, or facing the impacts of drought, bushfire or flood, there are practical ways your bank can help Australian banks have hardship teams ready to help you, depending on your circumstances. Assistance could include: deferring loan payments, waiving fees and charges, helping with debt consolidation, waiving…
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