IBS-SoundBite Solution a great success at a long term IBS client
NEW LONDON, N.H., January 21, 2011 – IBS COLLECTION AND ASSET RECOVERY MANAGER –PROFESSIONAL (CARM-Pro) receives customer accolades for its' powerful integration with SoundBite. Longtime customer North Shore Bank (NSB), started using CARM-Pro in 2003 in both their Mortgage and Consumer loan collection areas. With the national economic downturn and subsequent rising delinquencies, NSB knew that they needed to stay focused on increased collection efforts. Additionally, there was an even greater need for better organization of collection activities and stronger tracking for compliance. Like many financial institutions today, North Shore Bank was also faced with the added challenge to control the growing delinquency problems without any staff additions! In short: do more work, do more complex work, do it under tighter regulatory awareness, and do it for less money. Sound simple?
As the AVP of Collections - Residential Mortgage Loans, Connie Hagen oversees the Collections department responsible for collecting on Mortgage loans. Connie turned to IBS; her Collection and Recovery Software vendor for guidance. Over the past seven years, Connie developed a strong partnership with IBS, continuing to work together and add products as they became available. Connie first heard about the IBS-SoundBite relationship in January 2009. With no economic recovery insight, Connie knew that the use of the automated voice messaging product could be the solution to her growing problem.
For a small, one-time configuration fee and nominal use charges, the CARM-Pro/SoundBite integration provides user defined, professionally created voice messages and an automatic interface to CARM-Pro. According to Hagen, "Within minutes of CARM-Pro/SoundBite initiating calls, we immediately start receiving callbacks from the customers stating they got a message to call us. We started using CARM-Pro/SoundBite in April 2009 and thought after a few months it might lose its effectiveness, but that has not happened! In the past, when our surge in delinquencies would come in, it would take 2 people, 3 to 4 days to call every account, and that was at a frantic calling schedule. With CARM-Pro/SoundBite when that surge now hits, all of the accounts, no matter how many, (50 or 1000) all are called within a matter of minutes and we immediately start to see the results of people returning the calls."
Rob Daley, IBS President and Co-Founder, believes in win-win partnerships. "Being in this industry, we are keenly aware of the impact the economic downturn has had on our clients. When Main Street folks are struggling, our Main Street financial institutions struggle too. Working with smaller budgets and staffs, we knew our clients were being challenged to keep on top of their collections and recovery efforts". Daley continues, "At IBS, our clients are not just a contract, our clients are our partners, so that means we're in this together. And that meant we needed to find a way to better meet Connie's growing concerns and needs".
IBS partnered with SoundBite Communications, a leading provider of on-demand automated customer communications, creating an interface to bring high-end outbound messaging solutions to IBS clients, providing updates to CARM-Pro at a fraction of the cost of traditional staff.
"This powerful tool allows institutions' collectors to focus on their higher priority accounts and activities, while the CARM-Pro/SoundBite solution professionally delivers institution "approved" past due communications to their debtors," says Rob Daley. "We are absolutely pleased with the simplicity of the interface and the bi-directional completeness (call results clearly documented in CARM-Pro) of the interface. The overwhelming effectiveness our clients experience once it is turned on is impressive! Clients can increase their call volume with virtually unlimited outbound capacity, for pennies, compared to FTE's".
"Partnerships are a fundamental way that IBS operates" says Daley. "Partners are our clients, they are our core system providers, and they are our complimentary product providers." Partner may be defined as business associates working to common interests, but to IBS, partners are far more. As President of IBS, I am proud to call North Shore Bank, a partner, and thrilled that NSB and Connie were willing to share their experience with all of us".
To read more about "Connie's Challenge" and learn more about the CARM-Pro/SoundBite integration, read the full Case Study at http://www.ibshome.com/uploads/emailnewsletterfiles/118.pdf.
IBS is the premier provider of debt management solutions to the financial industry. Introduced in 1989, IBS collections and asset recovery management software is directly licensed to almost 450 banks and credit unions in 46 states and the District of Columbia, along with another 340 institutions licensed through IBS partners. Privately held, IBS always has been, and remains exclusively dedicated to, enhancing and growing its software's functionality for collection and recovery professionals at financial institutions. IBS sales and marketing is complemented by a growing library of business partners: COCC, Open Solutions, FIS (formerly Metavante), RDSI
Banking Systems, Fiserv, R.C. Olmstead, SoundBite Communications, LexisNexis, ProfitStars and Greenflag by Transworld.
To learn more about IBS, visit www.ibshome.com.