Collectius CMS (M) Sdn. Bhd. wins the Cloud - Financial Services award at the Malaysia Technology Excellence Awards 2021
Its DMS platform based on Microsoft Dynamics has been designed and customized for debt management.
Collectius CMS scored the Cloud-Financial Services trophy at the recently concluded Malaysia Technology Excellence Awards.
Collectius Group is the leading restructuring partner for financial institutions in Asia, with operations in the Philippines, Singapore, Malaysia, Thailand, and India. With nearly two decades of experience in credit management service and purchase of non-performing loan portfolios of distressed consumer debt, Collectius is modernizing the traditional debt management industry by digitally transforming and humanizing the process of recovery.
Collectius CMS (M) Sdn was established in 1999 and specializes in first and third-party international and domestic collection services. It engages with customers through a data-driven, self-service platform that ensures a full digital customer experience that is secure, convenient, and personal – the ‘Collectius way of collection.’
With their vision to create a world where every person – regardless of background – has the financial know-how to grow with the economy, Collectius launched a data-driven Debt Management System (DMS) powered by digital-first communication. The bespoke, cloud platform is based on Microsoft Dynamics and has been developed by experts from Stockholm-based Alternis Consulting together with Collectius.
Collectius’ decision to migrate to Microsoft Dynamics in Malaysia and its other markets was an initiative in the company’s overall strategy to employ innovative tools and data-driven insights to its customer-centric approach. By choosing Microsoft Dynamics, Collectius leveraged the benefits of Microsoft’s security and compliance measures to ensure quality and compliance.
The DMS platform has been designed and customized for the company’s business requirements and processes, including debt management. The robust platform serves as the foundation for Collectius to introduce different technological innovations to continuously improve both the customer experience as well as its internal processes both in the present and in the future.
The cloud system makes processes more seamless for both the customer and Collectius in several ways. First, Collectius has automated the sending of reminders to customers by programming certain triggers, such as a set number of days before payment is due – initiated by the data within the DMS system. Collectius’ power users can even create their automation using Microsoft no-code/low-code.
Second, having a cloud DMS easily allows Collectius to integrate other software and applications via API such as a calculation engine, payment gateways and an omnichannel communications system. This in turn enables Collectius’ ability to visualize and view data more easily and create dynamic dashboards for real-time tracking and monitoring of metrics including day-to-day collections to optimize decision making.
The cloud solution also enables a mobile Collectius workforce by allowing remote access to the system. This means that mediators can work effectively from home and in the field as they can easily access the DMS on-the-go using their mobile or iPad devices during site visits.
Ultimately, these advancements work together to improve the customer experience in line with Collectius’ customer-centric philosophy. For example, the real-time data flow ensures that when a payment is made by a customer, it is automatically deducted and reflected in the system as the data is automatically transferred. The new platform also has a customized omnichannel communications systems to allow Collectius customers to be in touch with the team as their needs require. Customers are able to communicate with Collectius via their preferred channel of communication such as phone, email, SMS or social media, and make payments digitally.
As the system works by unifying data and presenting a holistic overview of Collectius customers, Collectius mediators are equipped with a single customer view including information such as contact details, history, activity log, upcoming payments and payment plans. This benefits customers by affording continuity even while communicating with different mediators as the platform provides Collectius mediators a 360 view of the customer’s history.
Collectius mediators can create a bespoke experience by tailoring communications accordingly with this single customer view, which will serve to increase engagement with customers through personalized experiences and communications.