Empowering field debt collections with seamless and digitized operations

The demand for high-speed and seamless internet services is rising quickly across the nation as a result of India’s rapid foray into the digital transformation path, particularly in the financial services sector.?According to a survey report, more than nine out of ten mobile phone users in India, complained about poor wireless connectivity, and two-thirds struggled with disrupted digital payments on older networks.

Mobile applications are expected to function even when there is little or no internet connectivity because of changing user behavior, digital adoption, and expectations for seamless access. Even though the app is well-liked by users, a lack of offline capabilities frequently causes app abandonment or user dissatisfaction, especially in operations.

CG Collect mobile app for field collections comes with an offline mode for uninterrupted operations?

Credgenics CG Collect mobile app for collections has transformed the way field debt collections operations are managed by banks, NBFCs, MFIs, and collections agencies. The door-to-door solution comprises a web-based application for managers or office staff, and a mobile app installed on the field agents’ and managers’ mobile phones. CG Collect enables lenders to monitor operations in real time,?digitize collections?to the last mile, simplify collections processes, and?transform the customer experience.?

From agent visit scheduling to convenient recording and reconciliation of collections, the debt collections software streamlines field recoveries and ensures mandatory verification of the recoveries made by their agents to avoid any misreporting.?

We have introduced the offline task updation feature in the app to enable the continuity of field operations even in areas with limited / no internet connectivity. The offline functionality in CG Collect enables collections agents to overcome difficulties like locating borrowers in remote areas, not being able to reach their daily collection target, and failing to upload the status of their field visits due to low internet bandwidth.

(If you wish to sign up for CG Collect, please contact us)

Users of the app (field agents) can carry out their essential daily tasks even without an internet connection. As a result, interruptions brought on by internet outages are avoided, unnecessary roaming network costs are reduced, and mobile battery usage is optimized.?

What’s new in this feature?

• Agents can track the pre-scheduled visits as well as update visit entries
• Visits saved in the online mode are visible and sorted in ascending order based on distance, even in the offline mode
• All the borrower details like Personal Information (PI), payment status, and balance amounts are visible?
• The updated list of completed visits, updated in offline mode, becomes visible when the user is back online.
• The offline mode also supports viewing / downloading / printing receipts

How will collections agents benefit from the offline features?

CG Collect allows field agents to perform the following functions even without internet connectivity –

• Tracking pre-planned visits/calls –?The agent’s operations and the daily meetings are not impacted due to limited internet connectivity. This ensures borrower information is handy so that the collections agents can take the next steps to prioritize PTP accounts. Agents can access and make the planned visits based on customers’ location data points even with limited bandwidth.
• Updating Visit forms, Recoveries (through all payment modes) & Dispositions on customers– With the addition of the offline feature, the possibility of fraud regarding the misrepresentation of borrower collections status and agent visits can be eliminated, allowing lenders to perform accurate reconciliation using the available payment methods and visit information.
• Real-time data sync on moving from offline to the online environment– Collection managers can manage data and reports for daytime collections using real-time synchronization, preventing any inconsistencies that might arise during field visits in the event of an internet outage. Once the agent is online, the system updates the offline-submitted visit status.

What does it mean for borrowers?

With the flexibility and ease of the application tracking the repayment status, borrowers won’t have to wait for the agents to update their repayments; instead, they can use the links for payments shared to help clear their EMIs or loan repayments and ensure that their credit scores are not impacted. The ability of agents to meet borrowers and collect in an offline setting expands the lender’s reach into regions where collections teams encounter difficulties because of a rise in default rates.

How will this support the debt collections ecosystem??

We expect the offline feature to help the collections teams streamline their field operations without being impacted by the device, internet connectivity, or bandwidth issues.

How will the offline features provide a positive boost to debt collections??

• Increased collections rates: Agents can perform their day-to-day tasks even in tier-3 and tier-4 cities, villages and remote areas without any concern of internet connectivity hampering them in achieving their collections targets.
• Ease of usage: Agents can access the mobile app anytime, anywhere, while the collections managers will receive real-time data updates of transactions once the agent’s app is online. There is no need for agents to make any changes in the system, as the app will detect the need for offline features automatically.
• Higher agent efficiency: With the ability to update status with or without internet connectivity, the app usage by the agents and collections managers will increase and help in mapping the repayments accordingly.

The offline feature in the CG Collect app will enable lenders and their field collections team to deal with cases effectively and efficiently, especially in rural India, to track and recover loan payments. Learn?more about our CG Collect app?and how this field loan collections app is helping collections teams automate and digitize last-mile collections.

To book a demo, visit?here