The platform is built to help ARCs with comprehensive digital and insights-driven capabilities which can help in efficient debt resolution in retail and SME segments, the company said.
The Credgenics platform designed for ARCs offers detailed insight into every phase of overdue cases, including the communication history. This empowers ARCs to reconsider debt recovery approaches. The utilization of AI/ML models allows ARCs to assess the efficiency of communications and adjust outreach strategies to enhance recovery outcomes.
“ARCs play a crucial role in the financial services landscape, and our technology solution has been specifically designed keeping in mind their operational challenges and business expectations. We have already seen remarkable results with some of our leading ARC customers,” Rishabh Goel, Co-Founder and CEO of Credgenics said.
The platform provides policy monitoring to guarantee regulatory adherence for collection agencies and internal teams collaborating with the ARC. Automated trust settlement features facilitate smooth reconciliations and adaptable legal workflows for SARFAESI, legal notices, and other legal proceedings to improve resolutions.
The integrated mobile collections app transforms field recoveries, incorporating distinctive features like automatic case allocations, geo-tracking, geo-fencing, visit recording, and digital payments.”Leveraging Credgenics’ digitization and data-oriented capabilities has been instrumental in taking our debt recovery performance to the next level. The seamless digital edge, integrated approach, and comprehensive insights from data analytics have strengthened our legal communication process, expedited resolutions, and optimized overall processes,” said Mehul Gandhi, Chief Executive Officer at Reliance Asset Reconstruction Company Limited.