Credgenics Billzy payments solution allows ARCs to enhance efficiency and automate trust-based settlement processes, providing real-time visibility into loan repayments. The automated reconciliation process ensures precise matching of both sent and received payments.
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CG Collect mobile app for integrated field debt collections digitizes entire operations, facilitates faster negotiations for settlements, asset verification, and offers secure digital payments to make debt recovery efforts successful.
Learn moreCredgenics platform facilitates customizable legal process workflows, integrating SARFAESI, other cases, and e-courts for litigation management. It efficiently handles physical and digital legal communications, including real-time tracking and monitoring. The online dispute resolution platform covers arbitration, conciliation, and mediation proceedings through empaneled arbitrators, lawyers, and neutrals. Credgenics also offers robust debt settlement capabilities with tracking and approval features for Feet-On-Street (FoS) and calling teams.
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Equipped with automated and cloud-based calling for auto and predictive dialers, Credgenics platform streamlines call lists, increases connectivity and ensures comprehensive compliance.
Learn moreARCs benefit from data driven insights provided by Credgenics' Collections Analytics to enhance contactability and resolutions.
Credgenics advanced AI / ML models evaluate communication and channel effectiveness during follow-ups. The platform provides a 360-degree view of loan accounts. Borrowers with a significant risk value within specific segments are given priority for outreach.
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ARCs utilize a range of approaches, including negotiations, settlements, and legal processes, to recover debts. They may also engage in restructuring the debt, infusing capital, or selling the assets to maximize recovery and minimize losses for both lenders and investors.
ARCs typically handle non-performing loans, stressed assets, and distressed debt. These can include a variety of debts, such as bad loans, overdue payments, and financial assets facing challenges in recovery.
ARCs can issue a notice to the defaulting borrowers under Section 13(2) of SARFAESI, informing them of the outstanding debt and providing a 60-day window to repay the dues. This notice serves as a legal prerequisite before taking possession of the secured assets.
By adopting a collaborative and empathetic approach, ARCs can work alongside borrowers to find practical solutions, improve repayment prospects, and contribute to the overall success of debt recovery efforts. The ARCs can employ a combination of negotiation, legal mechanisms, asset management, and strategic resolution strategies. This collaborative engagement results in achieving mutually beneficial outcomes.
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