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​Enhanced Loan Collections™

Problem account tracking and management

Enhanced Loan Collections automatically tracks loans that warrant special attention. This tracking and management solution maintains complete collection files and recovery tracking for past due, charged-off, and non-accrual loans; suspect accounts; and deposit accounts with negative balances. This system assigns accounts to collection officers and tracks the specific actions taken including all customer contact and responses, and each officer’s performance. Professional customer correspondence can be generated using more than 900 archived letters and each letter can have more than 30 variable embedded fields. Accounts that achieve the desired outcome are automatically removed from collection files.

This solution is available to banks automated by the SilverLake System® platform.

What It Does

  • Tracks loan and deposit accounts that warrant special attention.
  • Maintains complete collection files for past due, charged-off, and nonaccrual loans, as well as deposit accounts with negative balances.
  • Allows problem accounts to be placed into bank-defined queues and assigned to collection officers to work.
  • Tracks the specific actions taken including all customer contact and responses.
  • Allows loan and deposit accounts that do not automatically qualify for inclusion in the collection file to be manually added and tracked.
  • Provides letter-writing capabilities that can address specific circumstances with more than 900 archived letters, each with more than 30 variable fields.
  • Removes accounts that achieve the desired outcome from collection files.
  • Tracks each collection officer’s performance including the number of assigned accounts, the number of accounts cleared, and the average number of days accounts reside in collection files.

What It Does For You

  • Further automates the time-consuming, labor-intensive collections process.
  • Improves collection rates and operating efficiencies.
  • Enables suspect accounts to be monitored before becoming past due.
  • Supports the collections process with professional customer correspondence.
  • Supports the analysis of collection officer activities with automated performance tracking.
  • Product Briefs
    Enhanced Loan Collections Product Brief

    Focus your attention on building relationships with customers that can grow your business – not on managing and tracking problem accounts. With Enhanced Loan Collections, you can automate the specific actions associated with the loan collections process and spend time concentrating on more important things – like your customers.

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Jack Henry & Associates, Inc. ®