African Bank Limited, the largest micro finance credit grantor in Africa, has selected Tallyman, from Talgentra Limited, to support its enterprise-wide collections operations in SA.
African Bank, with over one million personal loans, will implement Tallyman in order to streamline its revenue management processes and improve its efficiency at collecting outstanding debt.
Tallyman is a highly flexible software solution and will enable African Bank to centralise its collections process, allowing the bank`s 200 branches to access the collections database from a browser-based front end. The Tallyman system will give the bank a complete view of its customers` credit status and will enhance collections management and debt collection strategies. This will significantly reduce the level of under-performing loans. Tallyman will also be implemented at the bank`s subsidiary, Credit Indemnity, and its in-house debt collection agency, David Lewis & Associates.
African Bank selected Talgentra due to its international experience in customer revenue management, as well as the high degree of user control and flexibility of the Tallyman solution.
Customer profiling and segmentation are two of the key features of the Tallyman system. These risk management tools will enable African Bank to incorporate data elements into the collections system, which will lead to more effective segmentation, making it easier for the bank`s collectors to focus their efforts.
Through the use of Tallyman`s Java-based and database-independent technology, which will run on the bank`s MS SQL server platform, African Bank will significantly improve its ability to service the credit requirements of its growing portfolio of micro finance customers. This market segment has traditionally been underserviced due to the perceived high-risk profile of the clientele.
Angus Herselman, Managing Executive of the collections unit of African Bank, comments: "Customer relationship management (CRM) is a vital issue for African Bank and we are working at improving our credit offering and aligning it with our customers` requirements. An important aspect of CRM is the collections process - how it is managed and handled has a direct impact on customer satisfaction. The Tallyman solution is at the leading-edge of the industry and with it, we intend to take African Bank to the forefront of international best practice in collections. African Bank`s decision to implement this system and establish a robust customer revenue management policy is driven by the bank`s philosophy of responsible lending."
Dr David Harris, Managing Director of Talgentra Limited, adds: "African Bank`s commitment to customer revenue management is representative of the level of responsibility that lenders should be exhibiting in today`s society where consumer credit has reached record levels. Hopefully organisations like African Bank will set the standard for others to follow.
"The business benefits of good customer revenue management are undeniable - companies can really drive revenue and make a visible impact on their bottom line. A solid and fail-safe customer revenue management strategy is becoming paramount to every business that is committed to best practice in the credit industry and maximising revenue from their customer base."
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