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.