Collections

Specialized Services

Generating Collections Impact

Companies struggle to prevent non-aging losses due to bankruptcy, long-term illness, and death. Such accounts are prone to higher regulatory scrutiny, and therefore need to be managed by agents with specialized skill sets. Genpact’s specialized collections services include skip tracing, manual dialing of cell phones for customer consent, bankruptcy processing, loss mitigation, complaints management, dispute management, remote call monitoring, and compliance risk mitigation. Genpact has proven expertise working with clients across industries and delivers best-in-class turnaround time (TAT), process and regulatory compliance, and exceptions management.

Solutions

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Our solution draws on Genpact’s Lean DigitalSM approach that harnesses design-thinking methods, Lean principles, digital technologies and analytics, and deep domain expertise.

Our collections capabilities help determine the validity of bankruptcy and dispute claims while our expert teams are trained in regulatory guidelines and can process accounts according to compliance standards. We also use a combination of external tools and internal databases for skip tracing.

Genpact’s approach to managing skip accounts – borrowers that default on a payment and move without providing a valid forwarding address – delivers enhanced and faster collections by leveraging innovative contact channels and outbound dialer strategies, or automated dialing. We have also developed an automated process that improves productivity in locating skip accounts by close to 40%. By employing segmentation and predictive analytics we create models that prioritize accounts by risk for the most effective and efficient contact strategy.

In addition, our process capabilities are powered by our in-house workflow tools, which allow Genpact to service all accounts in an integrated manner. This helps in adhering to statutory guidelines and meeting best-in-class turnaround time.

Impact

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