"Business Collection (Level 2)" provides a comprehensive understanding of collections and recovery processes within banking institutions. Participants will explore the collections and recovery framework, utilizing customer knowledge and insights to optimize efficiency. The course covers active repayment management techniques, collection technology tools, and the importance of effective communication in collections. Participants will also learn about the role of collections agencies and steps for debt recovery.
Understand the collections and recovery framework that determines that bank’s policy and how customer knowledge and insight is used to optimize collections efficiency.
Identify the collections process, effected through active repayment management using ‘the Collections Ruler’.
Understand how collection technology, tools and management information can speed up process and optimize collections efficiency.
Tell the importance of using the right collection messages at the right time and how the tone of voice used in messages can improve collections efficiency.
Assess when it is appropriate to use a collections agency.
List the steps when repayment collection activity does not yield desired results, and it is time to put the account into debt recovery.
Collections managers and specialists in banking institutions=Credit analysts and risk managers involved in collections and recovery=Operations managers overseeing collections processes=Compliance officers ensuring adherence to collections policies
