CASE STUDY
32% Faster Bad Debts Processing in 6 Months
As a result of the Soft-collection stage renewal, the following tasks were completed by our team:
In 6 months our client has started processing bad debts 32% faster.
Our client – further referred to as the Bank – specializes in retail lending. The Bank is a significant player in the commercial retail banking sector in Central Europe. Its main operational field includes retail lending, credit card issuance, and deposits.
Our client cooperates with many retail chains, has about 150 branches, and is represented in over 100,000 points of sales.
The Bank has already had debt collection management software implemented. However, when the Bank’s management got in contact with our team, the necessity to upgrade was vital. The existing debt collection management software has become a bottleneck both in accuracy and performance.
The Bank already had software solution from FICO onboard, and its functions satisfied the Bank’s requirements. That’s why it was decided to use a new analogous FICO product as a basis for the new debt-collection automation technology.
As RNDpoint is a partner of FICO (since 2014), the vendor recommended our team and gave excellent references.
After a series of meetings with the Bank’s representatives, RNDpoint’s specialists discovered other flaws in the existing debt management system in the Bank:
The requirements of the Bank were coupled with a strict deadline. Development and implementation processes were to be done in 6 months.
In the negotiations, the Bank and RNDpoint agreed that it is necessary to realize the functions from the existing system in the new one. In addition, the new solution should be more customizable and productive.
After 6 months of hard and thorough work from both sides, the final result was reached. It included:
BRMS, System orchestration, Backend development, DWH, FICO Blaze Advisor, FICO Application Studio, Java, Oracle.
After launching the new system, the Bank recorded a significant improvement in debt collection effectiveness.
With every implemented iteration, RNDpoint’s cooperation with the Bank was taken to the next level of trust. The Bank has become one of our largest clients.
problematic debts processed 32% faster
the 1st stable product delivered in 2 months
the customer returned to us with new challenges