Business Objective
Kredin found a significant problem in the debt collection process and sought our assistance in putting together a framework that encapsulated both front and backed technology. The task was to help establish a fintech debt collection system that delivered real-time data to customers seeking debt recovery, streamline the process, and provided results - faster.
Business Challenge
Unsuitable Tracking System
The existing system had several fundamental issues that prevented ease of tracking and monitoring for the end consumer, i.e the lender.
Complex System
The process Kredin followed was complex and unstable for the general audience, topped with a sophisticated visual architecture that made it impossible for lenders to be on top of everything.
Semi-Automation Systems
Although automated systems existed but they were limited in their ability to render real-time data and avail reminders to the end consumer which made Kredin fall back, technologically.
Business Solution
A fintech software solution was adopted at both the front and back end levels, alongside third-party software integrations, to develop a smooth online cloud-based debt collection system that made debt collection comfortable, executed real-time reporting, and established better communication via automated reminders and push notifications.
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Key Benefits
An intelligent cloud-based solution to enhance cashflow and debt collection practices
- Improve Credit Collections
- Ensure Better Cash-flow Management
- Automate Payment Reminders
- Reduce Operational Cost
- Limit Disruptive Communications
- Provide Comprehensive Security
- Smart Payment Reminders
- Real-time Data Access
- Push Notifications
Business Impact
We Create a Valuable Difference
Debt Recovery Rate increased by
80%
Debt collection rate increased by
65%
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