Credit Management is the lifeline for most of the Financial institutions. In a global economy hooked on credit, credit management is more important than ever before. As banks and financial institutions work to transform their credit management operations, getting it right means rethinking the customer journey.
Put simply, credit makes the world economy go around. With so much at stake, it’s easy to see why effective, efficient credit management is vital— and why failure to manage credit properly raises unacceptable risks to consumers and businesses alike. Notwithstanding the importance of this issue, however, banks and other financial institutions often struggle with the myriad shortcomings of their credit and collections operations.
With the recent nationwide lockdown due to the coronavirus in 2020, the traditional means of collections turned out to be more ineffective.
Moreover, in June 2020, the RBI tightened norms for recovery practices. RBI’s additional compliance guidelines for ethical collections now make it difficult to disburse loans speedily.
Recent events have put collection and recovery departments to the test and forced them to become more inventive. Some of the pressing challenges in Credit Managements include:
Manual management of credit operations
Not able to track the conversation between field collection agents and customer
Lack of data visibility from Third party Collection agencies
Misalingment of Collection communication strategies between the channels leading to lower engagement rates which leads to poor collection rates
Automation and full stack customer Engagement platform can offer simple solutions to the complex problem.
This Roundtable will bring some of the Industrial pioneers and thought leaders from Banks and Financial institutions. It allows the attendees to discuss some of the key challenges in Credit management, collection strategies and how technology adoption can simplify its challenges.
Presenting Partner
Exotel is one of Asia’s largest cloud telephony companies, working with 4,500+ businesses including top enterprises and start-ups. They solve communication problems for various industries be it Automobile, E-commerce, Cab aggregators, BFSI or Fintech. Exotel is a secure and reliable business phone system on the cloud. Simple to setup. No additional infrastructure or equipment required. Enables sales and support teams irrespective of where they work from.
Visit us at www.exotel.com
Our Speakers
Ranjeetsingh Lamba
Head of Contact Center
Edelweiss Financial Services
Bharathiraja Shanmugam
EVP & Head of Credit,
Collection and Strategy
Unity Small Finance Bank
Anurag Kumar
Business Head – Collection
& Credit improvement
Paisabazaar
Rahul Patil
Sr. Assistant Vice President
& Zonal Credit & Operations Head
Cholamandalam Investment & Finance Company Ltd
Sambandamurthy Venkatesan
Head Of Collections and Recovery
Fincare Small Finance Bank
Subha Sundaram
ABM Lead