CARM-Pro™ debt collection and recovery technology by IBS is the sought-after solution for banks and credit unions seeking better banking strategies for growth.
This proven software’s comprehensive features empower financial institutions to grow their loan portfolio, increase income, and reduce risk.
With CARM-Pro™ you can now “soften” your credit standards, open a much larger market, and allow your bank to successfully manage credit risk with high end collection system technology.
Increase Bank Profitability with Customizable Debt Collection Technology
IBS pioneered customizable debt collection technology to solve the critical challenges of increasing bank profitability, growing loan volume, and reducing risk for all financial institutions.
CARM-Pro™ Collection and Recovery Manager – Professional™ is a dynamic debt collection system that maximizes your collections team’s productivity, enabling them to work more past due accounts than ever before.
CARM-Pro frees up time for collectors to work prior charge-offs and recover non-interest income that increases bank profitability
Rob Daley – IBS President
Get more work done, with the same staff, deploying comprehensive CARM-Pro™ automation capabilities.
Integrate your current banking policies, compliance strategy definitions and requisite collector actions to CARM-Pro’s unlimited database, and leverage full or collector action initiated work flows.
Then CARM-Pro™ will execute efficient workflows and sequencing of all required compliance steps.
Collectors can then efficiently customize and schedule all debtor outreach via automated, tracked and recorded delivery of email, postal mail, SMS and dynamic voicemail.
Efficient workflows and automated outreach allow for earlier and more frequent debtor communication.
This boosts productivity so much that it frees collectors to work prior charged-off accounts – thus increasing bank profitability by recovering non-interest income.
CARM-Pro™ user-friendly software also provides enhanced executive-level tracking and reports that support your bank or credit union leaders’ efforts to develop and enforce banking strategies for growth.
Increase Loan Volume and Decrease Delinquency Risk for Your Bank or Credit Union
Collectors can leverage the power of CARM-Pro™ debt collection software to automate much of the manual labor of collection work.
Full automation of collector actions and borrower outreach allows banks and credit unions to increase loan volume and process required collections steps faster, with the same or fewer staff members.
Any reduction of credit standards typically raises concern among executive management.
However, this high-end collection system technology allows for earlier and more frequent debtor communication, and manages risk to avoid a corresponding increase in losses and to gain a greater yield on higher interest loans.
It also decreases risk by not compromising the frequency of follow-up communications with delinquent debtors.
| Action | Before CARM-Pro™ | After CARM-Pro™ |
|---|---|---|
| Pre-alert debtors of reoccurring near term (future) payments due | Not Achievable | Yes |
| Initial contact immediately at past due status | Not Achievable | Yes |
| Much earlier subsequent debtor communications | Not Achievable | Yes |
| More frequent debtor communication during the delinquency | Not Achievable | Yes |
| Communicate to debtor via any debtor preferred communication channel: email, SMS, USPS, deliver pre-recorded blended voice messages or simplified dialing | Not Achievable | Yes |
How CARM-Pro™ Customizable Automated Collection Software Decreases Delinquency Risk and Prevents Some Charge offs
- Provides additional communication channels (pre-recorded voicemail, SMS, email)
- Expands the collection period beyond the daily hours that collectors are typically in the office
- Increases the probability of debtor contact and subsequent follow-through with payment
- Reminds borrowers of payment deadlines and holds them accountable
Execute Your Banking Strategies for Growth with Scalable Collection & Recovery Solutions
Every bank or credit union has its own unique banking strategy for growth.
CARM-Pro™ diligently enforces your financial institution’s strategy by enabling your collectors to store and leverage the data you require into unlimited inclusion and exclusion debtor selection parameters (for any action – communication, work list, etcetera) within CARM-Pro™.
This scalable, user-friendly software also allows for unlimited collector assignments, and quickly adapts to enforce changes to the ever-changing economic environment, policies and regulations that affect your debt collection and recovery strategy.
This robust debt collection system enables your collection staff to execute your financial institution’s collections strategy.
Collector workflows automate customized borrower outreach, to encourage faster payment and ensure that no communication steps are missed.
CARM-Pro™ automatically records all actions taken by each collector, by date and time.
This empowers collection agents to fully comply with your institution’s policies, as well as state and federal regulations, to minimize the risk of non-compliance.
Scalable CARM-Pro™ empowers bank & credit union executives to proactively implement bank branch growth strategies
How to Mitigate Risk in Banking: Use CARM-Pro™ Debt Collection Software
The best way to mitigate risk in banking is to leverage CARM-Pro™ to enforce your financial institution’s policies and protect the integrity of your banking process using automated debt collection software.
In the contemporary banking environment, state and federal regulators increasingly emphasize collection compliance.
The sold, insured, and guaranteed loans that your bank or credit union maintains are under more scrutiny than ever before.
This scrutiny necessitates risk mitigation with stringent debt collection processes and consistent follow through, as a single compliance error can expose your bank to the risk of significant loss.
Frequently Asked Questions About Banking Strategies for Growth
Banking Strategies for Growth
Every bank and credit union develops clearly-defined lending standards. Executive managers and board members are typically uncomfortable with lowering their institution’s credit approval standards. However, increasing loan volume by lending to borrowers with lower credit scores yields a higher interest spread, thus more interest income.
Lower credit scores can also lead to high delinquency rates. When financial institutions lower their standard for credit approval in conjunction with enforcing more aggressive collection policies on new loans, they can minimize delinquency risk by leveraging powerful CARM-Pro™ debt collection technology. CARM-Pro™ ensures consistent follow-through with frequent, multi-channel debtor communications that lead to faster loan repayment.
The best strategy to increase a bank or credit union’s loan portfolio is to create clearly defined policies, reduce credit standards, and use CARM-Pro™ debt collection technology to diligently enforce them. Financial institutions who increase their loan portfolio by lending to borrowers with lower credit scores gain a higher interest spread and greater interest income. Lending to clients or members with low credit scores can result in greater delinquencies, but financial institutions can minimize this risk by leveraging CARM-Pro™ to enforce more aggressive debt collection policies.
ARM-Pro™ debt collection software enables community banks to increase net income by improving debtor communications. For example, earlier and more frequent outreach, via the debtor’s preferred method (email, SMS, voice, or USPS) helps increase net income by reducing delinquencies, preventing some loan charge-offs, and lowering operating costs. Collectors gain a comprehensive 360-degree view of all borrower accounts, including the status of delinquency and data from their institution’s primary servicing system, which saves time and ensures compliance.
Banks and credit unions can easily and accurately manage credit risk with CARM-Pro™ debt collection software. This is because CARM-Pro™ efficiently streamlines and automates all the collection tasks defined by your internal policies and external entities (investors, insurers, and guarantors). Without CARM-Pro™, even the most experienced collectors do not perform and fully document every single required action at the required time. Collection steps that are missed, performed late, and improperly documented can lead to fines, penalties, and litigation losses for your financial institution.
When collectors leverage CARM-Pro™ technology, key collection steps are automatically completed and documented. This helps banks and credit unions manage credit risk and maintain reliable audit records.