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Transforming Debt Recovery with Innovative Solutions

A Public Bank Recovery Division’s journey, from facing significant debt recovery challenges to implementing effective solutions and achieving remarkable success underscores the power of innovation, technology, and experienced governance in transforming business processes.

INDUSTRY

Banking

SOLUTION

BPaaS CC

FUNCTION

Collection

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Company 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.

Prior 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.

Objectives to achieve

Innovative and effective solutions to enhance the debt recovery process and improve outcomes.

Implemented solutions

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skip tracing tools enabled the team to locate and contact debtors more efficiently, overcoming the obstacle of outdated or incorrect contact information.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.

Goals achieved successfully

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