100% Committed to Bank and Credit Union Collection and Recovery
– VIP enables Intelligent Banking Solutions to integrate and interface Collection and Asset Recovery Manager – Professional (CARM-Pro) with SilverLake, Core Director and CIF 20/20 New London, NH, August 1, 2020 – Intelligent Banking Solutions, a banking industry specialty firm, offering CARM-Pro (IBS’ premier debt collection management system) to financial institutions today announced that it […]
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With the proper bank collection system in place, helping to monitor risk and debt recovery, financial institutions could extend credit to previously underserved markets such as with low-dollar personal loans, and small businesses. The issue for many banks and credit unions is how to attract and serve many individuals and businesses lacking traditional creditworthiness. More […]
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Loans for low cash, short term personal use are one key way for financial institutions to cultivate assets. Another option is to underwrite more business loans. Money loaned in both cases calls for robust bank collection software to help loan account officers manage the process and monitor the risks. Lender sources including non-banks and alternative […]
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A constant and growing compliance burden for banks and credit unions adds to escalating costs and puts a heavier burden on vigorous collection systems to maintain order and help ensure profitability. Debt gathering is a billion-dollar industry with swelling and multifaceted legal concerns for financial institutions across departments but especially when gathering fees owed. This […]
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Loan impact on the bank debt collections process from Dodd-Frank reform requirements and other legislative changes is currently unclear. One certain situation is that bank collection software needs to help lenders adapt to regulatory changes via a number of robust and flexible capabilities. Amount of loan volume, as well as changes to investor, guarantor, and […]
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Loan volume growth is a top priority for community financial institutions. Money availability pressure on bankers has prompted a number of steps to make give borrowers more access to cash. Lender professionals have lowered interest rates. Credit standards have been relaxed to induce borrowing. Amount of application fees have been waived. This situation of fast […]
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Is your collection department in compliance? Are your representatives up-to-date on state, and federal applicable regulations? Is your collection automation technology up to date, and capable of enforcing adherence to your institutions legal obligations? Are agents representing your community bank or credit union in an honest and ethical way? Debt gathering is a billion-dollar industry […]
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Open-source software and cloud architecture helps provide cost-effective and flexible collections systems. It also moves bank debt recovery toward digital frameworks and business models. A cloud computing platform − a network of servers hosted internally, through a third-party provider or via a hybrid of both – allows banks and credit unions to move technology to […]
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The Consumer Financial Protection Bureau released a monthly snapshot highlighting consumer complaints about financial services. The report revealed problems with debt settlement companies and a great opportunity for financial institutions using robust debt collection services. When consumers submit a complaint that falls outside one of the bureau’s major complaint categories, their complaint falls under the […]
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