CASE STUDY OF A RENOWNED STATE-OWNED BANK
Corporate Background
The Recovery Division of a Public Bank faces the formidable task of collecting IDR 30 Billion in credit card debt each month. As a significant player in the financial recovery sector, their expertise and strategies in managing and recovering debt are critical for their success and its financial stability.
Previous Condition
- A significant portion of their accounts receivable involved cardholders with outstanding debts exceeding five years, complicating the collection process.
- The invalid contact numbers for a majority of these cardholders further hindered communication and recovery efforts.
Objective to be Achieved
- Innovative and effective solutions to enhance the debt recovery process and improve outcomes.
SOLUTIONS IMPLEMENTED
BPaaS Collection: Leveraging Business Process as a Service (BPaaS) for debt collection allowed for a more agile and scalable approach, integrating advanced technologies to streamline processes.
Skip Tracing Tools: The adoption of sophisticated skip tracing tools enabled the team to locate and contact debtors more efficiently, overcoming the obstacle of outdated or incorrect contact information.
Governance & Management System: The deployment of a robust governance and management system, backed by 15 years of industry experience, ensured that the recovery processes were managed effectively, with a focus on compliance, efficiency, and best practices.
OBJECTIVES SUCCESSFULLY ACHIEVED
- The strategic initiatives led to the division achieving 80% of its debt recovery target, a significant milestone reflecting the effectiveness of the solutions.
- The integration of advanced technologies and experienced management practices resulted in streamlined operations, improved communication with debtors, and a higher rate of successful debt recovery.
80%
of Debt Recovery Target Achieved
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