How Can Collections Management System Help Banks? – My Credit Score
Credit Collections Management Software (CCM) is a suite of integrated business applications that extend a bank’s accounts receivable and accounting system to facilitate credit management, billing and invoicing, remittance processing, dispute management, and collections processes. A credit collections management software typically supports credit facilitation, billing and invoicing, remittance processing, collections management, dispute resolution, and credit risk assessment. Banks spend a huge share of their income every year on CRM & ERP software, looked upon with the primary motive of getting more leads and closing more deals.
Buyer & Exporter Risk Assessment with CRIF Business Information Report
Are you thinking about buying a business or want to acquire another small business to expand your existing one? Or, want to add new suppliers to your business? If you answered yes to any of these questions, conducting due diligence becomes indispensable. Due diligence is a methodical investigation into the business, product, suppliers you are interested in buying. Due diligence should be conducted prior to transaction to eliminate risks. CRIF Business Information Reports lets you perform in-depth due diligence by looking at the key issues of the business including financial risks, legal issues, Operational risk and supplier and buyer relationships.
30+ Years of expertise in credit risk modelling and decision analytics
Lending is becoming more future-oriented and Predictive Analytics can help financial institutions be at the forefront of innovation. All types of credit risk management require data analytics, and increased data availability and processing tools will bring new credit risk management opportunities. Predictive analytics is the practice of deriving information from existing data in order to identify the likelihood of patterns and predict future outcomes and trends.
Improve Profitability From Existing Customers
CRIF's customer management solutions help you enhance customer retention and deepen relationships by engaging with your best customers and minimize risk by identifying customers who might become delinquent. Predictive Analytics Assess your existing customers and segment them for a variety of possible actions around marketing or risk management with the use of internal data and external data such as from credit bureau through a bespoke scorecard built by CRIF experts. Our Predictive Analytics solutions allow businesses to quickly identify and rank-order the relative possibility of a specified outcome, such as a consumer's probability of default or to make decisions on products and terms based on their level of credit risk. Decision Management
Perform Decision Analytics through CRIFs Business Rule Management System
CRIF’s user-friendly decision engine for automating decisions that leverage data & analytics. StrategyOne integrates in a single tool the components of design and execution of the essential strategies to manage all decision-making processes in a complete, effective and timely manner. Decision Management with StrategyOne Release your organization from the inflexibility and high costs of having hard-coded rules dispersed throughout your systems and adopt an enterprise decision management approach and technology that empowers business users.
Predictive Analytics & Scorecards
Lending is becoming more future-oriented and Predictive Analytics can help financial institutions be at the forefront of innovation. All types of credit risk management require data analytics, and increased data availability and processing tools will bring new credit risk management opportunities. Predictive analytics is the practice of deriving information from existing data in order to identify the likelihood of patterns and predict future outcomes and trends.
CRIF’s Basic Guide To Usage Of Policy Rules: Old Wine In A New Glass by Atrideb Basu
After the NBFC debacle, the Indian economy has seen liquidity drying up at a rapid pace. The lending industry has been affected so severely that credit growth has reduced to half by the end of September 2019 compared to what it was at the beginning of the year, as per the latest RBI data. While some significant non-banking financial companies have witnessed diminished revenues, others have ceased to exist. To understand how general credit policy rules affect the lending industry, we got in touch with Atrideb Basu, Senior Vice President, Products & Consulting at CRIF India. In an insightful interaction, Basu elaborated on how current lending policy rules are doing more harm than benefit the industry along with what can be done to improve the situation. “The concept of policy rules, in general, is very intriguing.
Manage Application Fraud
Technology has been the biggest agent of change in recent times, and more so, in the financial services sector. Be it financial transactions, customer experience, marketing of new products or channel distribution, digitization has permeated all departments of finance. With terms like 'digitization' and 'cashless transactions' on the rise, most physical and time-consuming transactions have been replaced by fast and convenient, real-time payments. But all this convenience does not come without the risk of opening new avenues for frauds.
Due Diligence plays a critical role in minimizing & managing risk in a business
In today's globalized economy, Due Diligence plays a critical role in making a success of a prospective business transaction, whether it be a merger, a contract with a new supplier or establishing a partnership with another company. The sole purpose of the due diligence is to minimize and manage risk before embarking in any kind of cooperation. At the end of the day, your company's standing, reliability, and degree of success, all depends upon selecting suitable and dependable customers, investors and partners. Our Business Information Reports can help you conduct due diligence checks and enable faster decision making without additional risk.
What is Customer Due Diligence and What is its importance? - Blog
Behind the smiling faces of the relationship managers greeting you generously, is a history of a systematic vetting carried out about you. Well, there is nothing wicked behind this considering the fact that engaging in a new business relationship is risky for businesses when we live in a world of frauds, impersonation, money laundering and terrorism. It is naturally difficult for banks to ascertain your claim of being who you say you are before they hand you over the money. In business terms, this process is more commonly known as ‘Customer Due Diligence’. Apparently we, as individuals, also perform due diligence knowingly and unknowingly.
