With an aim to decrease the cost of debt collection and boost working capital by reducing debt write-offs, the bank will implement Experian’s Tallyman software, which will also help efficiently manage customers with arrears.
Axis Bank consumer lending & payments head Jairam Sridharan said that the bank chose Tallyman software as it provides the ability and flexibility to automate and customize processes as per requirements.
It will also enable the bank to decrease collections costs, implementation times and dependency on IT resources, while delivering the best possible customer services, Sridharan added.
As a part of Experian’s Debt Collection and Recovery suite, Tallyman automates the collections process across the complete lifecycle, ranging from administrating high-risk pre-delinquent customers through to debt recovery.
In order to allow collections departments to assign the appropriate collections activities sensitive to each individual case, the software also segments arrears portfolios into highly specific customer types.
Integrating Experian’s data, analytics and consulting, Tallyman promotes a more strategic approach to collections and assist companies enhance operational efficiencies, claims the company.
Headquarters in Dublin, with operational headquarters in Nottingham, California, and São Paulo, Experian has a work force of 17,000 staff and operates in 40 nations and had reported total revenue of $4.7bn, as of 31 March 2013.
